Public finance, governance, and growth in transition economies : empirical evidence from 1992-2004 / Taras Pushak, Erwin R. Tiongson, and Aristomene Varoudakis
- Bib ID:
- 4270658
- Format:
- Book
- Author:
- Pushak, Taras
- Online Version:
- CONNECT TO ONLINE RESOURCE (PDF VERSION)
Broken link? let us search Trove , the Wayback Machine , or Google for you.
- Description:
-
- [Washington, D.C.] : World Bank, Europe and Central Asia Region, Poverty Reduction and Economic Management Unit, 2007
- 31 p. : ill. ; 28 cm.
- Series:
- Policy research working papers ; 4255.
- Summary:
-
This paper revisits the early empirical literature on economic growth in transition economies, with particular focus on fiscal policy variables-fiscal balance and the size of government. The baseline model uses a parsimonious specification, drawn from Fischer and Sahay (2000), of economic growth as a function of initial conditions, stabilization, liberalization, and structural reform. The paper expands the data used in previous analyses by up to 10 years and finds unambiguous evidence that fiscal balance matters for growth, while confirming other previous findings on the correlates of economic growth in transition economies. In addition, the paper extends the baseline model and explores potential sources of nonlinearities in the relationship between growth and public finance. A key finding is that determinants of growth may vary in relative importance, depending on the underlying institutional quality. The evidence indicates that there could be higher growth payoffs from macroeconomic stability and public expenditure in countries characterized by relatively better public sector governance as measured by relevant indicators. In addition, the size of government matters for growth in a nonlinear manner: Beyond indicative thresholds of expenditure levels, public spending has a negative impact, while at levels below the threshold, there is no measurable impact on economic growth.
- Notes:
-
- "June 2007"--Cover.
- Includes bibliographical references (p. 23-25).
- Also available on the World Wide Web.
- Subject:
-
- Fiscal policy -- Developing countries -- Econometric models
- Finance, Public -- Developing countries -- Econometric models
- Developing countries -- Politics and government -- Econometric models
- Developing countries -- Economic conditions -- Econometric models
- Developing countries -- Economic policy -- Econometric models
- Other authors/contributors:
- Copyright:
-
In Copyright
You may copy under some circumstances, for example you may copy a portion for research or study. Order a copy through Copies Direct to the extent allowed under fair dealing. Contact us for further information about copying.
Copyright status was determined using the following information:
- Material type:
- Literary Dramatic Musical
- Published status:
- Published
- Publication date:
- 2007
Copyright status may not be correct if data in the record is incomplete or inaccurate. Other access conditions may also apply. For more information please see: Copyright in library collections.
Request this item
Request this item to view in the Library’s reading room.
Feedback
Similar items
- Taxation of financial assets in developing countries / Christophe Chamley
- Imports of developing countries : an empirical model of intertemporal allocation and financial constraints / L. Alan Winters
- What would happen if all developing countries expanded manufactured exports? / Will Martin
- Trademark protection or protectionism? / Eugenia Baroncelli, Ekaterina Krivonos, Marcelo Olarreaga
- How "natural" are natural monopolies in the water supply and sewerage sector? : case studies from developing and transition economies / Céline Nauges and Caroline van den Berg