Os efeitos da poupança pública sobre o crescimento econômico: análise para um painel de países

Thiago Ribeiro and Luiz Carlos Bresser-Pereira ()

No 171, Textos para discussão from FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil)

Abstract: This article analyzed the relations between public savings and economic growth. Initially, theoretician-descriptive analysis of these relations showed that the public savings is a more complete pointer of fiscal sustainability than the primary surplus and tends to present more positive effect on the product than the operational surplus. The estimated equations and the tests of robustness of the results of the posterior econometrical analysis, that used models of multiple regression for a panel of 38 nations, had proven, at high confidence levels, the hypothesis of positive relation between public savings and and per capita economic growth taxes – indicating the direction of causalidade between them –, besides supplying consistent and interesting results about the form of association between development and other variables. The central conclusion was that an increase of a unit in the public savings tax must lead, in average, to a rise of 0,17 units in the per capita economic growth tax

Date: 2009-03-18
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Persistent link: https://EconPapers.repec.org/RePEc:fgv:eesptd:171

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