FISCAL POLICY AND GROWTH REVISITED: THE CASE OF THE SPANISH REGIONS*

Oscar Bajo-Rubio (), Carmen Diaz-Roldan and M.a Dolores Montávez Garcés
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M.a Dolores Montávez Garcés: Universidad Pública de Navarra

Working Papers from Instituto de Estudios Fiscales

Abstract: . In this paper we present an assessment of the effects of fiscal policy on economic growth, focusing on the role of public expenditure. Starting from a theoretical model where only those public expenditure items strictly presumed to influence the production process (i. e., public capital and transfers) are incorporated into the production function, we provide an empirical application for the case of the Spanish regions during the period 1967-1991. The results confirm the positive effect of public investment on growth, together with a positive effect of transfers but only for poorer regions.

Keywords: Economic growth; public investment; public transfers; regions. (search for similar items in EconPapers)
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Related works:
Working Paper: Fiscal Policy and Growth Revisited: The Case of The Spanish Regions (1999)
Working Paper: Fiscal Policy and Growth Revisited: An Application to the Case of the Spanish Regions (1999)
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Persistent link: https://EconPapers.repec.org/RePEc:hpe:wpaper:y:2002:i:19

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