Fiscal volatility, financial crises and growth

Antonio Afonso and Joao Jalles

Applied Economics Letters, 2012, vol. 19, issue 18, 1821-1826

Abstract: We use a panel of developed and emerging countries for the period 1970 to 2008 to assess how fiscal policy volatility and financial crises affect growth. We find that economic growth is lower in the presence of more volatile fiscal policy. Moreover, with a financial crisis government spending is stickier than revenue.

Date: 2012
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Working Paper: Fiscal Volatility, Financial Crises and Growth (2012)
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DOI: 10.1080/13504851.2012.667531

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