IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Log in (now much improved!) to save this paper

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

  • 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.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.udea.edu.co/portal/page/portal/bibliotecaSedesDependencias/unidadesAcademicas/FacultadCienciasEconomicas/ElementosDiseno/Documentos/BorradoresEconomia/BorradCIE_42.pdf
Download Restriction: no

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

as
in new window

Length: 52
Date of creation: 31 Aug 2011
Date of revision:
Handle: RePEc:col:000196:008986
Contact details of provider:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Ana María Iregui B. & Ligia Alba Melo B., . "La transmisión de la política monetaria sobre el consumo en presencia de restricciones de liquidez," Borradores de Economia 547, Banco de la Republica de Colombia.
  2. Kandel, Shmuel & Stambaugh, Robert F., 1991. "Asset returns and intertemporal preferences," Journal of Monetary Economics, Elsevier, vol. 27(1), pages 39-71, February.
  3. carlos E. Posada, . "Por qué ha Crecido el Gasto Público?," Borradores de Economia 051, Banco de la Republica de Colombia.
  4. Andreas Irmen & Johanna Kuehnel, 2008. "Productive Government Expenditure and Economic Growth," CESifo Working Paper Series 2314, CESifo Group Munich.
  5. Robert J. Barro, 1989. "Economic Growth in a Cross Section of Countries," NBER Working Papers 3120, National Bureau of Economic Research, Inc.
  6. Maurice Obstfeld, 1992. "Risk-Taking, Global Diversification, and Growth," NBER Working Papers 4093, National Bureau of Economic Research, Inc.
  7. John Y. Campbell & N. Gregory Mankiw, 1989. "Consumption, Income, and Interest Rates: Reinterpreting the Time Series Evidence," NBER Working Papers 2924, National Bureau of Economic Research, Inc.
  8. Hansen, Lars Peter & Singleton, Kenneth J, 1982. "Generalized Instrumental Variables Estimation of Nonlinear Rational Expectations Models," Econometrica, Econometric Society, vol. 50(5), pages 1269-86, September.
  9. Mihai Mutascu & Marius Milos, 2009. "Optimal Size Of Government Spending. The Case Of European Union Member States," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(11), pages 45.
  10. Carlos Esteban Posada & Andrea Rojas A., 2008. "El crecimiento económico colombiano: datos nuevos y modelos viejos para interpretar el perído 1925-2000," BORRADORES DE ECONOMIA 004508, BANCO DE LA REPÚBLICA.
  11. Fölster, Stefan & Henrekson, Magnus, 2000. "Growth Effects of Government Expenditure and Taxation in Rich Countries," SSE/EFI Working Paper Series in Economics and Finance 391, Stockholm School of Economics.
  12. Reinhart, Carmen & Ogaki, Masao & Ostry, Jonathan, 1996. "Saving Behavior in Low- and Middle-Income Developing Countries: A Comparison," MPRA Paper 6978, University Library of Munich, Germany.
  13. Daron Acemoglu, 2005. "Politics and Economics in Weak and Strong States," NBER Working Papers 11275, National Bureau of Economic Research, Inc.
  14. Mehra, Rajnish & Prescott, Edward C., 1985. "The equity premium: A puzzle," Journal of Monetary Economics, Elsevier, vol. 15(2), pages 145-161, March.
  15. Barro, Robert J., 1990. "Government Spending in a Simple Model of Endogeneous Growth," Scholarly Articles 3451296, Harvard University Department of Economics.
  16. David Aschauer, 1988. "Is public expenditure productive?," Staff Memoranda 88-7, Federal Reserve Bank of Chicago.
  17. John H. Cochrane & Lars Peter Hansen, 1992. "Asset Pricing Explorations for Macroeconomics," NBER Working Papers 4088, National Bureau of Economic Research, Inc.
  18. Robert E. Hall, 1981. "Intertemporal Substitution in Consumption," NBER Working Papers 0720, National Bureau of Economic Research, Inc.
  19. Mauricio A. Hernández & Munir A. Jalil B. & Carlos Esteban Posada, 2005. "El costo de los ciclos económicos en Colombia: una nueva Estimación," BORRADORES DE ECONOMIA 002478, BANCO DE LA REPÚBLICA.
  20. Carolina Mejía Mantilla & Mauricio Cárdenas & Mauricio Olivera, 2006. "La economía política del proceso presupuestal en Colombia," WORKING PAPERS SERIES. DOCUMENTOS DE TRABAJO 002988, FEDESARROLLO.
  21. Dar, Atul A. & AmirKhalkhali, Sal, 2002. "Government size, factor accumulation, and economic growth: evidence from OECD countries," Journal of Policy Modeling, Elsevier, vol. 24(7-8), pages 679-692, November.
  22. Carlos Estaban Posada & Wilman Gómez, 2002. "Crecimiento Económico Y Gasto Público Un Modelo Para El Caso Colombiano," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE, vol. 20(41-42), pages 5-86, June.
  23. Jorge E. Espitia, 2004. "La descentralización fiscal y el crecimiento económico: evidencia para Colombia," Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 22(46-1), pages 186-248, Diciembre.
  24. Jorion, Philippe & Giovannini, Alberto, 1993. "Time-series tests of a non-expected-utility model of asset pricing," European Economic Review, Elsevier, vol. 37(5), pages 1083-1100, June.
  25. Hansen, Lars Peter, 1982. "Large Sample Properties of Generalized Method of Moments Estimators," Econometrica, Econometric Society, vol. 50(4), pages 1029-54, July.
  26. Niloy Bose & M. Emranul Haque & Denise R. Osborn, 2007. "Public Expenditure And Economic Growth: A Disaggregated Analysis For Developing Countries," Manchester School, University of Manchester, vol. 75(5), pages 533-556, 09.
  27. repec:fth:harver:1435 is not listed on IDEAS
  28. Taiji Harashima, 2005. "An Estimate of the Elasticity of Intertemporal Substitution in a Production Economy," Macroeconomics 0508030, EconWPA.
  29. Epstein, Larry G & Zin, Stanley E, 1991. "Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: An Empirical Analysis," Journal of Political Economy, University of Chicago Press, vol. 99(2), pages 263-86, April.
  30. Carlos Esteban Posada & Carlos Caballero Argáez, 2003. "Una Nota Sobre Los Elementos Coyunturales Y Estructurales Del Deficit Fiscal En El Caso Colombiano Reciente," BORRADORES DE ECONOMIA 003718, BANCO DE LA REPÚBLICA.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:col:000196:008986. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Laura Maria Posada Arboleda)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.