Fiscal Spending and Economic Growth: Some Stylized Facts

Celine Carrere and Jaime de Melo

No P35, Working Papers from FERDI

Abstract: Using an “event analysis”, this paper complements the cross-country approach to the study of fiscal correlates of growth. Data on fiscal expenditures and growth for a database of 140 countries (118 developing countries) over 1972-2005 are reorganized around turning points providing a summary but encompassing description of “what is in the data”. For this sample, the probability of occurrence of a fiscal event is about 10%, and, the probability of a growth event once a fiscal event had occurred is around 26 %. For developing countries, fiscal events followed by growth events occur under situations of (i) significantly lesser deficit, (ii) fewer resources devoted to non-interest General Public Services and (iii) shift in primary expenditures towards Transport & Communication.

JEL-codes: E62 H62 O11 O23 (search for similar items in EconPapers)
Date: 2012-01
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Citations: View citations in EconPapers (12)

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Related works:
Chapter: Fiscal Spending and Economic Growth: Some Stylized Facts (2015)
Journal Article: Fiscal Spending and Economic Growth: Some Stylized Facts (2012)
Working Paper: Fiscal Spending and Economic Growth: Some Stylized Facts (2012)
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