Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/152872
Authors: 
Afonso, António
Ebert, Werner
Schuknecht, Ludger
Thöne, Michael
Year of Publication: 
2005
Series/Report no.: 
ECB Working Paper 438
Abstract: 
In this paper we review the linkages between the quality of public finances, that is, the level and composition of public expenditure and its financing via revenue and deficits, and economic growth. We review the various channels through which public finances affect growth and its underlying determinants (institutional framework, employment, savings and investment, innovation). The paper addresses the approaches used to assess the performance and efficiency of public spending, and surveys the empirical findings on the impact of fiscal variables on sustained economic growth.
Subjects: 
Efficiency
Growth
quality of public finances
JEL: 
H50
O40
Document Type: 
Working Paper

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