Fiscal policy and growth: do financial crises make a difference?
Autor(a) principal: | |
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Data de Publicação: | 2010 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.5/2320 |
Resumo: | In this paper we assess to what extent in the existence of a financial crisis, government spending can contribute to mitigate economic downturns in the short run and whether such impact differs in crisis and non crisis times. We use panel analysis for a set of OECD and non-OECD countries for the period 1981-2007. The fiscal multiplier for the full sample for instrumented regular and crisis spending is about 0.6-0.8 considering the sample average government spending share of GDP of about one third. Altogether, we cannot reject the hypothesis that crisis spending and regular spending have the same impact using a variation of controls, sub-samples and specifications. |
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Fiscal policy and growth: do financial crises make a difference?Fiscal PolicyFinancial CrisisGrowthOECDEUPanel AnalysisIn this paper we assess to what extent in the existence of a financial crisis, government spending can contribute to mitigate economic downturns in the short run and whether such impact differs in crisis and non crisis times. We use panel analysis for a set of OECD and non-OECD countries for the period 1981-2007. The fiscal multiplier for the full sample for instrumented regular and crisis spending is about 0.6-0.8 considering the sample average government spending share of GDP of about one third. Altogether, we cannot reject the hypothesis that crisis spending and regular spending have the same impact using a variation of controls, sub-samples and specifications.ISEG - Departamento de EconomiaRepositório da Universidade de LisboaAfonso, AntónioGrüner, Hans PeterKolerus, Christina2010-10-04T13:02:33Z20102010-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/2320engAfonso, António, Hans Peter Grüner e Christina Kolerus. 2010. "Fiscal policy and growth: do financial crises make a difference?". Instituto Superior de Economia e Gestão - DE Working papers nº 10-2010/DE/UECE0874-4548info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:33:32Zoai:www.repository.utl.pt:10400.5/2320Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T16:50:21.530397Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Fiscal policy and growth: do financial crises make a difference? |
title |
Fiscal policy and growth: do financial crises make a difference? |
spellingShingle |
Fiscal policy and growth: do financial crises make a difference? Afonso, António Fiscal Policy Financial Crisis Growth OECD EU Panel Analysis |
title_short |
Fiscal policy and growth: do financial crises make a difference? |
title_full |
Fiscal policy and growth: do financial crises make a difference? |
title_fullStr |
Fiscal policy and growth: do financial crises make a difference? |
title_full_unstemmed |
Fiscal policy and growth: do financial crises make a difference? |
title_sort |
Fiscal policy and growth: do financial crises make a difference? |
author |
Afonso, António |
author_facet |
Afonso, António Grüner, Hans Peter Kolerus, Christina |
author_role |
author |
author2 |
Grüner, Hans Peter Kolerus, Christina |
author2_role |
author author |
dc.contributor.none.fl_str_mv |
Repositório da Universidade de Lisboa |
dc.contributor.author.fl_str_mv |
Afonso, António Grüner, Hans Peter Kolerus, Christina |
dc.subject.por.fl_str_mv |
Fiscal Policy Financial Crisis Growth OECD EU Panel Analysis |
topic |
Fiscal Policy Financial Crisis Growth OECD EU Panel Analysis |
description |
In this paper we assess to what extent in the existence of a financial crisis, government spending can contribute to mitigate economic downturns in the short run and whether such impact differs in crisis and non crisis times. We use panel analysis for a set of OECD and non-OECD countries for the period 1981-2007. The fiscal multiplier for the full sample for instrumented regular and crisis spending is about 0.6-0.8 considering the sample average government spending share of GDP of about one third. Altogether, we cannot reject the hypothesis that crisis spending and regular spending have the same impact using a variation of controls, sub-samples and specifications. |
publishDate |
2010 |
dc.date.none.fl_str_mv |
2010-10-04T13:02:33Z 2010 2010-01-01T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.5/2320 |
url |
http://hdl.handle.net/10400.5/2320 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Afonso, António, Hans Peter Grüner e Christina Kolerus. 2010. "Fiscal policy and growth: do financial crises make a difference?". Instituto Superior de Economia e Gestão - DE Working papers nº 10-2010/DE/UECE 0874-4548 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
ISEG - Departamento de Economia |
publisher.none.fl_str_mv |
ISEG - Departamento de Economia |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799130978307801088 |