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Tamaño óptimo del gasto público colombiano: una aproximación desde la teoría del crecimiento endógeno

Listed author(s):
  • Alvis, Camilo

    ()

  • Castrillón, Cristian

    ()

Resumen: Este artículo tiene como propósito hacer una estimación econométrica del modelo de gasto público y crecimiento económico de Barro (1990). La estimación se realizó mediante el método generalizado de los momentos (GMM) para la economía colombiana durante el periodo de 1950-2007. Los resultados obtenidos sugieren que el tamaño óptimo del sector público se sobrepasó empezando la década de los noventa. Además, se encontró que el tamaño del gasto público que maximiza la tasa de crecimiento del PIB per cápita depende del grado relativo de aversión al riesgo. Incluso, se encontró que la elasticidad de sustitución intertemporal es muy baja para el periodo analizado.

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Paper provided by UNIVERSIDAD DE ANTIOQUIA - CIE in its series BORRADORES DEPARTAMENTO DE ECONOMÍA with number 008986.

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Length: 52
Date of creation: 31 Aug 2011
Handle: RePEc:col:000196:008986
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