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Please use this identifier to cite or link to this item: http://hdl.handle.net/10400.5/2642

Title: Political and Institutional Determinants of the Cyclicality of Fiscal Policy: Evidence from the OECD and Latin America
Authors: Venes, Nuno
Keywords: Fiscal policy
cyclicality
political and institutional determinants
OECD
Latin America
Issue Date: 2006
Publisher: ISEG – Departamento de Economia
Citation: Venes, Nuno. 2006. "Political and Institutional Determinants of the Cyclicality of Fiscal Policy: Evidence from the OECD and Latin America". Instituto Superior de Economia e Gestão - DE Working papers nº 19-2006/DE
Series/Report no.: DE Working papers;nº 19-2006/DE
Abstract: In this paper, we analyse the role of political and institutional variables on the cyclical patterns of central government expenditure and revenue. Working with a sample of 38 OECD and Latin-American countries in 1960-2003, we find that higher levels of income inequality are associated with stronger expenditure procyclicality, and that better institutions do not seem to mitigate this effect. IMF interventions are, in general, statistically insignificant in explaining the cyclical behaviour of expenditure, as well as the degree of development of financial systems. On the revenue side, income inequality leads to less procyclical policies. In general, political and institutional variables explain the cyclicality of government expenditure better than that of revenue.
URI: http://hdl.handle.net/10400.5/2642
ISSN: 0874-4548
Publisher version: https://aquila1.iseg.utl.pt/aquila/getFile.do?method=getFile&fileId=26455
Appears in Collections:DE - Documentos de trabalho / Working Papers

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