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Asymmetric Government Expenditure: A Comparison of Advanced and Developing Countries

Author

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  • Ali Askin Culha

Abstract

This paper studies the responsiveness of government expenditures to business cycles and introduces an index of asymmetric government expenditures using panel data for a broad set of advanced and developing countries during the period 1981-2014. The empirical findings show that government expenditures tend to be procyclical in developing countries but acyclical in advanced economies. In addition, it is found that government expenditures respond in a countercyclical manner during bad times in advanced countries, but in a strongly procyclical manner during good times in developing countries. The results also indicate that the index of asymmetric government expenditures for developing countries tend to be higher than that of the advanced countries.

Suggested Citation

  • Ali Askin Culha, 2016. "Asymmetric Government Expenditure: A Comparison of Advanced and Developing Countries," Working Papers 1617, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    • Handle: RePEc:tcb:wpaper:1617
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    File URL: https://www.tcmb.gov.tr/wps/wcm/connect/EN/TCMB+EN/Main+Menu/Publications/Research/Working+Paperss/2016/16-17
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    More about this item

    Keywords

    Government expenditure; Procyclicality; Countercyclicality; Asymmetry;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General

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