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Please use this identifier to cite or link to this item: http://hdl.handle.net/10400.5/2604

Title: Economic Growth and Budgetary Components: a Panel Assessment for the EU
Authors: Afonso, António
González Alegre, Juan
Keywords: economic growth
panel models
fiscal policy
Issue Date: 2007
Publisher: ISEG – Departamento de Economia
Citation: Afonso, António e Juan González Alegre. 2007. "Economic Growth and Budgetary Components: a Panel Assessment for the EU". Instituto Superior de Economia e Gestão - DE Working papers nº 29-2007/DE/UECE
Series/Report no.: DE Working papers;nº 29-2007/DE/UECE
Abstract: 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/10400.5/2604
ISSN: 0874-4548
Publisher version: https://aquila1.iseg.utl.pt/aquila/getFile.do?method=getFile&fileId=26500
Appears in Collections:UECE - Documentos de Trabalho / UECE - Working Papers
DE - Documentos de trabalho / Working Papers

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