Government expenditure and economic growth in the EU : long-run tendencies and short term adjustment /
This paper analyses both the long and the short-run relation between government expenditure and potential output in EU countries by means of pooled mean group estimation (Pesaran, Shin, and Smith (1999)). Results show that, over a sample comprising EU-15 countries over the 1970-2003 period, it canno...
| Κύριος συγγραφέας: | Arpaia, Alfonso. |
|---|---|
| Corporate συγγραφέας: | European Commission : Directorate-General for Economic and Financial Affairs. |
| Άλλοι συγγραφείς: | Turrini, Alessandro 1966- |
| Μορφή: | Βιβλίο |
| Γλώσσα: | English |
| Στοιχεία έκδοσης: |
Brussels- Belgium :
European Comission : Directorate-General for Economic and Financial Affairs,
2008.
|
| Σειρά: |
European Economy. Economic papers ;
300. |
| Διαθέσιμο Online: |
http://ec.europa.eu/economy_finance/publications/publication_summary12026_en.htm. |
| Ετικέτες: |
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| 100 | 1 | |a Arpaia, Alfonso. | |
| 245 | 1 | 0 | |a Government expenditure and economic growth in the EU : |b long-run tendencies and short term adjustment / |c Alfonso Arpaia, Alessandro Turrin. |
| 260 | 0 | |a Brussels- Belgium : |b European Comission : Directorate-General for Economic and Financial Affairs, |c 2008. | |
| 300 | |a 51 σ. : |b διαγ. πιν. ; |c 30 εκ. | ||
| 490 | 1 | |a European Economy. Economic papers ; | |
| 520 | 0 | |a This paper analyses both the long and the short-run relation between government expenditure and potential output in EU countries by means of pooled mean group estimation (Pesaran, Shin, and Smith (1999)). Results show that, over a sample comprising EU-15 countries over the 1970-2003 period, it cannot be rejected the hypothesis of a common long-term elasticity between cyclically-adjusted primary expenditure and potential output close to unity. However, the long-run elasticity decreased considerably over the decades and is significantly higher than unity in catching-up countries, in fast-ageing countries, in low-debt countries, and in countries with weak numerical rules for the control of government spending. The average speed of adjustment of government expenditure to its long-tem relation is 3 years, but there are significant differences across countries. Anglo-Saxon and Nordic countries exhibit in general a faster adjustment process, while adjustment in Southern European countries appears somehow slower. | |
| 580 | |a Economic Papers. | ||
| 700 | 1 | |a Turrini, Alessandro |d 1966- | |
| 710 | 2 | |a European Commission : Directorate-General for Economic and Financial Affairs. | |
| 773 | 0 | 8 | |a Economic Papers |g February 2008, No 300. |
| 830 | |a European Economy. Economic papers ; |v 300. | ||
| 852 | |a INST |b UNIPILB |c KET |e 20090217 |p EEEP 300 |q EEEP 300 |t NOLOAN |y 23 |4 1 | ||
| 856 | 4 | 1 | |u http://ec.europa.eu/economy_finance/publications/publication_summary12026_en.htm. |