The Interrelation “Public Expenditure – GDP per capita†in the EC Countries After 2000

Venelin Boshnakov and Atanas Hubenov
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Atanas Hubenov: University of National and World Economy, Sofia, Bulgaria

Ikonomiceski i Sotsialni Alternativi, 2010, issue 1, 80-98

Abstract: The article presents the main results of an empirical study of the interrelation between the relative share of public expenditure in GDP – total and by functions of Government – and the level of wellbeing as well as its change in the ES countries. Several hypotheses are raised and an attempt for their testing their validity is made through the results of two estimated econometric models. The fi rst one is built for the relation between the shares of expenditures in GDP by all functions of Government and the level of GDP per capita. The second one is built for the relation between the shares of total public expenditure in GDP and the rate of change of the real GDP. The two models are estimated separately using data for two groups of countries – new (EU-12) and old EU member states (EU-15). For this purpose longitudinal data for the period 2000-2007 are used extracted from the informa- ? on platform of EUROSTAT that provides unifi ed methodology and comparativeness of the countrylevel data. The results obtained and related conclusions can assist the comparative analysis of public expenditure policies of the two groups of countries from the point of view of of their potential for conducting effi cient budgetary policy in order to counteract to the global financial crisis.

Keywords: structural-operational definition; Bulgarian nonprofit sector; associations; foundations; community centers (search for similar items in EconPapers)
JEL-codes: L31 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:nwe:iisabg:y:2010:i:1:p:80-98

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