How does fiscal policy affect investment? Evidence from a large panel

Detalhes bibliográficos
Autor(a) principal: Afonso, António
Data de Publicação: 2015
Outros Autores: Jalles, João Tovar
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/25563
Resumo: We assess the relevance of fiscal components for private and public investment using data for a large panel of 95 countries for the period 1970–2008. Accounting for the usual econometric pitfalls, our results suggest a negative effect of government expenditure and of government consumption spending on private investment. Interest payments and subsidies have a negative effect on both types of investment (particularly in emerging economies). Social security spending has a negative effect on private investment for the full and OECD samples, whereas government health spending has a positive and significant impact on private investment. Moreover, stronger fiscal numerical rules decrease public investment.
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spelling How does fiscal policy affect investment? Evidence from a large panelBudgetary DecompositionPanel AnalysisNon-LinearitiesFiscal-RulesWe assess the relevance of fiscal components for private and public investment using data for a large panel of 95 countries for the period 1970–2008. Accounting for the usual econometric pitfalls, our results suggest a negative effect of government expenditure and of government consumption spending on private investment. Interest payments and subsidies have a negative effect on both types of investment (particularly in emerging economies). Social security spending has a negative effect on private investment for the full and OECD samples, whereas government health spending has a positive and significant impact on private investment. Moreover, stronger fiscal numerical rules decrease public investment.John Wiley & Sons, Ltd.Repositório da Universidade de LisboaAfonso, AntónioJalles, João Tovar2022-09-21T12:49:21Z20152015-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/25563engAfonso, António and João Tovar Jalles.(2015). "How does fiscal policy affect investment? Evidence from a large panel". International Journal of Finance & Economics, Vol. 20, No. 4: pp. 310-327.10.1002/ijfe.1518info: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:RCAAP2023-03-06T14:55:07Zoai:www.repository.utl.pt:10400.5/25563Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:09:24.260425Repositório 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 How does fiscal policy affect investment? Evidence from a large panel
title How does fiscal policy affect investment? Evidence from a large panel
spellingShingle How does fiscal policy affect investment? Evidence from a large panel
Afonso, António
Budgetary Decomposition
Panel Analysis
Non-Linearities
Fiscal-Rules
title_short How does fiscal policy affect investment? Evidence from a large panel
title_full How does fiscal policy affect investment? Evidence from a large panel
title_fullStr How does fiscal policy affect investment? Evidence from a large panel
title_full_unstemmed How does fiscal policy affect investment? Evidence from a large panel
title_sort How does fiscal policy affect investment? Evidence from a large panel
author Afonso, António
author_facet Afonso, António
Jalles, João Tovar
author_role author
author2 Jalles, João Tovar
author2_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Afonso, António
Jalles, João Tovar
dc.subject.por.fl_str_mv Budgetary Decomposition
Panel Analysis
Non-Linearities
Fiscal-Rules
topic Budgetary Decomposition
Panel Analysis
Non-Linearities
Fiscal-Rules
description We assess the relevance of fiscal components for private and public investment using data for a large panel of 95 countries for the period 1970–2008. Accounting for the usual econometric pitfalls, our results suggest a negative effect of government expenditure and of government consumption spending on private investment. Interest payments and subsidies have a negative effect on both types of investment (particularly in emerging economies). Social security spending has a negative effect on private investment for the full and OECD samples, whereas government health spending has a positive and significant impact on private investment. Moreover, stronger fiscal numerical rules decrease public investment.
publishDate 2015
dc.date.none.fl_str_mv 2015
2015-01-01T00:00:00Z
2022-09-21T12:49:21Z
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/10400.5/25563
url http://hdl.handle.net/10400.5/25563
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Afonso, António and João Tovar Jalles.(2015). "How does fiscal policy affect investment? Evidence from a large panel". International Journal of Finance & Economics, Vol. 20, No. 4: pp. 310-327.
10.1002/ijfe.1518
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 John Wiley & Sons, Ltd.
publisher.none.fl_str_mv John Wiley & Sons, Ltd.
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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