Quality of public finances and growth

Ludger Schuknecht, Werner Ebert, Michael Thöne and Antonio Afonso

No 438, Working Paper Series from European Central Bank

Abstract: 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

Keywords: efficiency; growth; quality of public finances (search for similar items in EconPapers)
Date: 2005-02
Note: 175489
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (44)

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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbwps:2005438

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