Quality of public finances and growth
In this paper we review the linkages between the quality of public finances, that is, the level and composition of public expenditure and its financing via revenue and deficits, and economic growth. We review the various channels through which public finances affect growth and its underlying determinants (institutional framework, employment, savings and investment, innovation). The paper addresses the approaches used to assess the performance and efficiency of public spending, and surveys the empirical findings on the impact of fiscal variables on sustained economic growth. JEL Classification: H50, O40
|Date of creation:||Feb 2005|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +49 69 1344 0
Fax: +49 69 1344 6000
Web page: http://www.ecb.europa.eu/
More information through EDIRC
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.:
- Ohlsson, H. & Agell, J. & Lindh, T., 1995.
"Growth and the Public Sector: A Critical Review Essay,"
1995-09, Uppsala - Working Paper Series.
- Agell, Jonas & Lindh, Thomas & Ohlsson, Henry, 1997. "Growth and the public sector: A critical review essay," European Journal of Political Economy, Elsevier, vol. 13(1), pages 33-52, February.
- António Afonso & Ludger Schuknecht & Vito Tanzi, 2005.
"Public sector efficiency: An international comparison,"
Springer, vol. 123(3), pages 321-347, June.
- Afonso, António & Schuknecht, Ludger & Tanzi, Vito, 2003. "Public sector efficiency: an international comparison," Working Paper Series 0242, European Central Bank.
- António Afonso & Miguel St. Aubyn, 2005. "Non-parametric approaches to education and health efficiency in OECD countries," Journal of Applied Economics, Universidad del CEMA, vol. 0, pages 227-246, November.
- Olivier J. Blanchard, 1984.
"Debt, Deficits and Finite Horizons,"
NBER Working Papers
1389, National Bureau of Economic Research, Inc.
- Andrea Bassanini & Stefano Scarpetta & Philip Hemmings, 2001. "Economic Growth: The Role of Policies and Institutions: Panel Data. Evidence from OECD Countries," OECD Economics Department Working Papers 283, OECD Publishing.
- Andrea Bassanini & Stefano Scarpetta, 2001. "Does Human Capital Matter for Growth in OECD Countries?: Evidence from Pooled Mean-Group Estimates," OECD Economics Department Working Papers 282, OECD Publishing.
- Giuseppe Carone & Aino Salomaki & Herwig Immervoll & Dominique Paturot, 2004.
"Indicators of unemployment and low-wage traps (Marginal effective tax rates on labour),"
Labor and Demography
- Giuseppe Carone & Aino Salom�ki & Herwig Immervoll & Dominique Paturot, 2003. "Indicators of unemployment and low-wage traps (marginal effective tax rates on labour)," European Economy - Economic Papers 197, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
- Susan L. Averett & H. Elizabeth Peters & Donald M. Waldman, .
"Tax Credits, Labor Supply, and Child Care,"
University of Chicago - Population Research Center
92-9a, Chicago - Population Research Center.
- Sanghoon Ahn & Philip Hemmings, 2000. "Policy Influences on Economic Growth in OECD Countries: An Evaluation of the Evidence," OECD Economics Department Working Papers 246, OECD Publishing.
- Robert J. Barro & Paul M. Romer, 1991.
National Bureau of Economic Research, Inc, number barr91-1, October.
- Patricia M. Anderson & Phillip B. Levine, 1999.
"Child Care and Mothers' Employment Decisions,"
JCPR Working Papers
64, Northwestern University/University of Chicago Joint Center for Poverty Research.
- Hanna Polackova Brixi & Christian M.A. Valenduc & Zhicheng Li Swift, 2004. "Tax Expenditures--Shedding Light on Government Spending through the Tax System : Lessons from Developed and Transition Economies," World Bank Publications, The World Bank, number 15067.
- David Carey & Harry Tchilinguirian, 2000. "Average Effective Tax Rates on Capital, Labour and Consumption," OECD Economics Department Working Papers 258, OECD Publishing.
- Michael Bleaney & Norman Gemmell & Richard Kneller, 2001. "Testing the endogenous growth model: public expenditure, taxation, and growth over the long run," Canadian Journal of Economics, Canadian Economics Association, vol. 34(1), pages 36-57, February.
- António Afonso, 2004. "A Note on Public Spending Efficiency," CESifo DICE Report, Ifo Institute for Economic Research at the University of Munich, vol. 2(1), pages 35-39, 04.
- David E. Bloom & David Canning & Jaypee Sevilla, 2001. "The Effect of Health on Economic Growth: Theory and Evidence," NBER Working Papers 8587, National Bureau of Economic Research, Inc.
- Aschauer, David Alan, 1989.
"Is public expenditure productive?,"
Journal of Monetary Economics,
Elsevier, vol. 23(2), pages 177-200, March.
- Paul Cashin, 1994. "Government Spending, Taxes, and Economic Growth," IMF Working Papers 94/92, International Monetary Fund.
- Steven P. Cassou & Kevin J. Lansing, 1999.
"Fiscal Policy and Productivity Growth in the OECD,"
Canadian Journal of Economics,
Canadian Economics Association, vol. 32(5), pages 1215-1226, November.
- Isabel Busom, 2000. "An Empirical Evaluation of The Effects of R&D Subsidies," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 9(2), pages 111-148.
When requesting a correction, please mention this item's handle: RePEc:ecb:ecbwps:20050438. 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: (Official Publications)
If references are entirely missing, you can add them using this form.