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Public investment and economic growth in the European Union member states

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  • Donath, Liliana
  • Milos, Marius Cristian
  • Milos, Laura Raisa

Abstract

The issue of public investments became a very challenging subject for public decision makers since it incorporates the question of state performance, the quality of public finance and their effects on growth.The quality of public finance (QPF) is a multidimensional concept. It may be regarded as representing all the arrangements and operations regarding the financial politics that sustain the macroeconomic objectives, particularly the long-term economic growth. Financial policies at European level highlight the fact that a concentration of the public expenses in areas that stimulate the economic growth and a more efficient use of the public resources are key methods for sustaining the economic growth. The empirical proofs seem to support the assumption according to which certain types of public expenses can supply incentives and other can negatively influence the economic growth. The paper tries to reveal the effects of capital spending on economic growth (GDP per capita) for the European Union member states. The gross domestic product per capita and the capital expenses (functional classification of public expenses - “COFOG”) have been obtained by considering the Eurostat statistics, the measurement unit for the dependent variable and for the independent one is the EURO, while the period of analyze is of 7 years ( 2000-2006)

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 12954.

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Date of creation: 2008
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Handle: RePEc:pra:mprapa:12954

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Keywords: public spending; performance; efficiency; capital expenses;

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  1. António Afonso & Ludger Schuknecht & Vito Tanzi, 2006. "Public Sector Efficiency: Evidence for New EU Member States and Emerging Markets," Working Papers Department of Economics, ISEG - School of Economics and Management, Department of Economics, University of Lisbon 2006/01, ISEG - School of Economics and Management, Department of Economics, University of Lisbon.
  2. Donath Liliana & Milos Marius, 2008. "The prerequisites of public sector performance: governance and effectiveness," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, University of Oradea, Faculty of Economics, vol. 3(1), pages 222-227, May.
  3. Manuel Coutinho Pereira & Sara Moreira, 2007. "A Stochastic Frontier Analysis of Secondary Education Output in Portugal," Working Papers, Banco de Portugal, Economics and Research Department w200706, Banco de Portugal, Economics and Research Department.
  4. Philip R. Gerson, 1998. "The Impact of Fiscal Policy Variableson Output Growth," IMF Working Papers, International Monetary Fund 98/1, International Monetary Fund.
  5. António Afonso & Ludger Schuknecht & Vito Tanzi, 2005. "Public sector efficiency: An international comparison," Public Choice, Springer, Springer, vol. 123(3), pages 321-347, June.
  6. Alfonso Arpaia & Alessandro Turrini, 2008. "Government expenditure and economic growth in the EU: long-run tendencies and short-term adjustment," European Economy - Economic Papers, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission 300, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
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