Study on Quality of Public Finances in Support of Growth in the Mediterranean Partner Countries of the EU

Abstract

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Quality of Public Finance and Economic Growth in the Czech Republic

“…Their paper analyzes whether a convergence to a new pattern of public finances with a higher share of productive expenditures is arising in the euro zone. Coutinho et al (2010) point out that discussions on fiscal policy were primarily centered on the functions of economic stabilization, income redistribution and resource allocation until the early 1990´s. Long-term growth was not usually viewed as an end itself, and fiscal policy was often not sufficiently tailored to the different circumstances and priorities of countries at different stages of development.…”

“…In line with Coutinho et al (2010), we include the first lag of government expenditures to GDP ratio to account for the size of the government in Model 2. We also include the first lag of the revenues to GDP ratio to control the way in which fiscal policy is financed.…”

Determinants of Growth and Inflation in Southern Mediterranean Countries

“…Another important data source is the United Nations E-Government Development Database, which provides, for instance, an infra-structure index, but only for a few years since 2003. 11 We also look at data on government expenditures as a ratio to GDP but the overall size of the government does not appear to be related to growth performance, and data on the detailed composition of government expenditures are limited for this set of countries (see Coutinho et al, 2009). 12 See Freedom in the World (2011).…”

“…38 Coutinho et al (2009) attempt to analyse the growth effects of fiscal policy using detailed fiscal data, but the study has several limitations due to data availability, and the set of countries is slightly different. 39 The World Bank Doing Business rankings, and the World Bank Logistics Performance Index (LPI), for instance can be exploited in the future, when significant time series information is available.…”