2008
DOI: 10.1016/j.ejpoleco.2007.06.008
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Public finances and long-term growth in Europe: Evidence from a panel data analysis

Abstract: Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in… Show more

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Cited by 168 publications
(115 citation statements)
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“…The coefficient on initial subsample GDP per capita is negative and significant, which is consistent with the assumption of the conditional convergence of growth rates reported in previous studies (Barro, 1991;Mankiw et al, 1992;Kneller et al, 1999). Inflation affects economic growth rate negatively, supporting the hypothesis that, among other things, inflation increases investment uncertainty and, therefore, reduces economic agents' incentives to invest Galli, 2001 andRomero-Avila and Strauch, 2008). Trade openness has a posi tive and significant effect on the growth rate, which is consistent with previous findings (Dollar, 1992;Edwards, 1998;Frankel and Romer, 1999;and Dollar and Kraay, 2003).…”
Section: On Economic Growthsupporting
confidence: 74%
“…The coefficient on initial subsample GDP per capita is negative and significant, which is consistent with the assumption of the conditional convergence of growth rates reported in previous studies (Barro, 1991;Mankiw et al, 1992;Kneller et al, 1999). Inflation affects economic growth rate negatively, supporting the hypothesis that, among other things, inflation increases investment uncertainty and, therefore, reduces economic agents' incentives to invest Galli, 2001 andRomero-Avila and Strauch, 2008). Trade openness has a posi tive and significant effect on the growth rate, which is consistent with previous findings (Dollar, 1992;Edwards, 1998;Frankel and Romer, 1999;and Dollar and Kraay, 2003).…”
Section: On Economic Growthsupporting
confidence: 74%
“…Some empirical studies find a negative effect, e.g. Hansson and Henrekson (1994), Arjona et al (2003) and Romero-Avila and Strauch (2008), while others obtain a positive impact, e.g. Herce et al (2001) and Zhang and Zhang (2004).…”
Section: Direct Effects Of Fiscal Policy On Tfpmentioning
confidence: 99%
“…In addition to Fölster and Henrekson (2001), papers by Dar and AmirKhalkhali (2002), Romero-Avila and Strauch (2008), Bergh and Karlsson (2010) and Afonso and Furceri (2010) all find a statistically and economically significant negative correlation between aggregate government size and growth in rich countries. The omission of the latter two can of course be explained by them being published later, but the main impression is nevertheless that Colombier is not fully accurate in his description of existing literature.…”
Section: Related Literaturementioning
confidence: 99%