Search results for "Spending"

Asymmetric decentralisation, economic cycle, regional and local government’s borrowing in Spain

2014

This paper investigates the evolution of sub-central government borrowing in Spain over the period 1996–2011. The arguments and figures provided show that the intense process of political and fiscal decentralisation that took place over the 1990s and 2000s did not lead to higher debt ratios in terms of GDP at these tiers of government until 2007. Although a kind of overspending bias was in effect until the late 2000s, the paper shows that the evolution of GDP and tax revenues provided regional and local governments with enough resources to vigorously pursue their devolved public policy responsibilities and still keep their debt ratios under control. However, since 2008, when the world finan…

The Deadly Embrace between the Banks and the State in Spain, 1850-2015

2017

espanolEste trabajo analiza las relaciones financieras entre el sector bancario y la Hacienda publica en la Espana contemporanea. Los sistemas fiscales han sido insuficientes, generando un deficit presupuestario cronico. Este forzo una gestion irresponsable de la deuda publica hasta 1987. Ello impidio que los deficits presupuestarios pudiesen financiarse con deuda emitida en las bolsas, y obligo al Estado a recurrir a la banca (publica y privada). La evolucion de las nuevas series de las carteras de deuda publica se explica por la busqueda de rentabilidad de los bancos y por los cambios en la regulacion bancaria y la represion financiera que favorecieron al statu quo bancario. Se analizan l…

Measuring consumers’ level of satisfaction for online food shopping during COVID-19 in Italy using POSETs

2021

Abstract The pandemic COVID 19 has upset the economic, social, financial, and general behavioral systems. Global crisis has a large impact overall and related fallouts significantly affect existent structural paradigms in every country and region across the world. In particular, the spread of COVID-19 pandemic has led to having to rethink the way we produce and consume food. Within this global change, a rise in the number of consumers who purchase food products online in order to comply with the rules aimed at limiting the circulation of the virus should be emphasized. Consequently, probably causing a long-term positive effect on m-commerce. The purpose is to elaborate on the index of the s…

Co-movement of public spending in the G7

2010

Abstract The size of government in the G7 countries in the last fifty years follows a common pattern (see the left panel of Fig. 1 below): it grows in the first three decades, and then turns flat at the beginning of the nineties, for all countries alike. We highlight this common pattern in a dynamic factor model, and argue that a satisfactory explanation for it would be desirable.

Socioeconomic effects and the role of public spending decomposition on income mobility: a moderated regression model

2022

The aim of this paper is to investigate, empirically, what components of public spending imply a decreasing effect on income mobility, and what components create income opportunities, also discussing the role of government effectiveness. The role of the components of government expenditure is analysed in the association between intergenerational income mobility and socioeconomic characteristics, which are relevant for the life chances of children. Using the Global Database on Intergenerational Mobility, containing estimates of intergenerational income mobility at country level, and applying the moderated regression model, the results show strikingly consistent patterns. A country with more …

State Budget Constrains for 2013

2013

Abstract The state budget for 2013 is characterized by major constraints generated by the date of payment for the loans committed in the previous period, the high level of the payment arrears from the budget to the real economy, the insurance of the money amount required for the operational programs co-financing and by the acceptance of a lower budget deficit than in 2012, with negative consequences for the economic growth and that doesn’t ensure premises for reducing development gaps between Romania and other EU countries. Decreasing the economy financing by excessive budget deficit reduction is completed this year by the banks financing lines, which is still a handicap for financing the r…

Tourism expenditure and tourism intra-destination mobility

2022

The Impact of Government Spending on the Private Sector: Crowding-Out versus Crowding-In Effects

2009

The aim of this paper is to analyze the impact of government spending on the private sector, assessing the existence of crowding-out versus crowding-in effects. Using a panel of 145 countries from 1960 to 2007, the results suggest that government spending produces important crowding-out effects, by negatively affecting both private consumption and investment. Moreover, while the effects do not seem to depend on the different phases of economic cycle, they vary considerably among regions. The results are economically and statistically significant, and robust to several econometric techniques.

International Fiscal-Financial Spillovers:the Effect of Fiscal Shocks on Cross-Border Bank Lending

2019

This paper sheds new light on the degree of international fiscal-financial spillovers by investigating the effect of domestic fiscal policies on cross-border bank lending. By estimating the dynamic response of U.S. cross-border bank lending towards the 45 recipient countries to exogenous domestic fiscal shocks (both measured by spending and revenue) between 1990Q1 and 2012Q4, we find that expansionary domestic fiscal shocks lead to a statistically significant increase in cross-border bank lending. The magnitude of the effect is also economically significant: the effect of 1 percent of GDP increase (decrease) in spending (revenue) is comparable to an exogenous decline in the federal funds ra…

How does public spending affect technical efficiency? Some evidence from 15 European countries

2020

The relationship between government size and economic growth has been widely debated. Revisiting the subject from a distinct angle with respect to the mainstream approach, we provide an empirical analysis of the impact of government size on technical efficiency. The aim of this paper is to estimate the impact of public sector's size and of public expenditure components on 15 European countries’ technical efficiency from 1996 to 2014 by using a True Random Effect model. Using the total public expenditure as a proxy for the government size we estimate simultaneously national optimal production function and technical efficiency by controlling for income distribution and institutional quality. …