Utilize este identificador para referenciar este registo: http://hdl.handle.net/10400.5/2138
Título: Economic growth and budgetary components: a panel assessment for the EU
Autor: Afonso, António
Gonzalez Alegre, Juan
Palavras-chave: economic growth
panel models
fiscal policy
Data: Jan-2008
Editora: European Central Bank
Citação: Afonso, António e Juan Gonzalez Alegre. 2008. "Economic growth and budgetary components: a panel assessment for the EU". European Central Bank working paper series nº 848-2008
Relatório da Série N.º: European Central Bank working paper series;nº 848-2008
Resumo: In this paper we test whether a reallocation of government budget items can enhance long-term GDP growth in a set of European countries. We apply modern panel data techniques to the period 1970-2006, and we use three alternative dependent variables in a growth regression: economic growth, total factor productivity and labour productivity. Our results are able to identify also the distortions induced by public expenditure in the private factors allocation. In particular, we detect a strong crowding-in effect associated to public investment, which have enhanced economic growth by boosting private investment. We also associate a significant dependence of productivity on public expenditure on education as well as the role of social security and health issues in growth and the labour market.
URI: http://hdl.handle.net/10400.5/2138
ISSN: 1725-2806
Versão do Editor: http://www.ecb.int/pub/pdf/scpwps/ecbwp848.pdf
Aparece nas colecções:DE - Documentos de trabalho / Working Papers

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