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dc.contributor.authorOdedokun, Matthew O.en_US
dc.date.accessioned2011-12-14T09:40:24Z-
dc.date.available2011-12-14T09:40:24Z-
dc.date.issued2001en_US
dc.identifier.urihttp://hdl.handle.net/10419/52829-
dc.description.abstractThe study is an empirical test of the effects of different categories of government expenditure, revenue and deficits on economic growth in developing countries. It is based on panel data of annual series over the last three decades for 103 countries, which are further classified into low-income, high-income, mineral exports dependent, and foreign aid dependent groups. Our findings suggest that the effects of the fiscal variables on growth vary across these groups of countries. But broadly, capital expenditure have been detrimental to growth, just as current expenditure on goods and services, while expenditure on wages and salaries is growth-promoting. Also, functional expenditure on general administration and defense have retarded growth while spending on education and, to some extent, transport and communications sector are growth-friendly. Other economic and functional categories of spending generally have mixed effects, which are sometimes statistically insignificant. Non-tax revenue retards growth in only high-income and mineral exporting groups of countries. Taxes on income and profits are growth-retarding, just as taxes on domestic goods and services in all groups, except mineral exporting one. Taxes on international trade are found to be growth-promoting in only the low-income and foreign aid dependent groups of countries. Foreign grants promote growth in only the group of countries that heavily depend on them while fiscal deficits, whether domestically or foreign financed, retard growth.en_US
dc.language.isoengen_US
dc.publisherUNU-WIDER Helsinkien_US
dc.relation.ispartofseriesWIDER Discussion Papers // World Institute for Development Economics (UNU-WIDER) 2001/72en_US
dc.subject.jelO23en_US
dc.subject.jelO40en_US
dc.subject.ddc330en_US
dc.subject.keywordfiscal policyen_US
dc.subject.keywordpublic financeen_US
dc.subject.keywordeconomic growthen_US
dc.subject.stwÖffentliche Finanzwirtschaften_US
dc.subject.stwFinanzpolitiken_US
dc.subject.stwEntwicklungsländeren_US
dc.titlePublic finance and economic growth: Empirical evidence from developing countriesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn335128726en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:WIDER Discussion Papers, United Nations University (UNU)

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