Fiscal Policy, Public Expenditure Composition, And Growth Theory And Empirics

Semmler, Willi; Greiner, Alfred; Diallo, Bobo; Rezai, Armon; Rajaram, Anand

doi:10.1596/1813-9450-4405

Cited by 59 publications

(34 citation statements)

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“…This is close to the 0.138 estimated by Calderòn and Servèn (2003) for the elasticity of GDP to infrastructure for a group of comparable middle-income countries in Latin America. The value for the elasticity of output with respect to human capital, , is put at 0.3 which is the average of the estimates used by Rioja (2005) and Semmler et al (2007). The constant returns to scale technology used in the model, thus, implies that the output elasticity of private capital is 0.58, which is close to the value of 0.60 estimated by Elias (1992) for a group of developing countries in Latin America.…”

Section: Model Calibration and Solutionmentioning

confidence: 52%

“…To this end, productive government spending is divided into investment in core public infrastructure assets (such as transport and communications systems, energy, water supply and sanitation) and public investment to enhance education and health services that increase the stock of human capital. As noted by Semmler et al (2007), decomposing the productive capacity of public capital in this way more realistically captures the longer gestation lag in creating human capital relative to typical physical infrastructure. Even more importantly for the purposes of this paper, the decomposition allows us to isolate the effects of different kinds of government spending.…”

Section: Producersmentioning

confidence: 99%

“…The share of human capital employed in private production is set to 0.94, which is in the range of values used by Semmler et al (2007) for a set of middle-and low-income countries.…”

Section: Model Calibration and Solutionmentioning

confidence: 99%

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Government Expenditures, Financing, and Economic Growth in Cape Verde

Christie¹,

Rioja²

2014

JEDS

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In the last 15 years, the economy of Cape Verde has grown steadily and doubled its GDP. Part of this success could be attributed to having one of the world's highest public investment shares of GDP. However, Cape Verde faces potential challenges due to allocating too much public investment to infrastructure versus human capital formation (health and education) and due to an increase in public debt. Using a two-sector endogenous growth model, we find that reallocating public spending from infrastructure to human capital can have large positive effects on long run growth rates.

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Section: Model Calibration and Solutionmentioning

confidence: 52%

Section: Producersmentioning

confidence: 99%

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Government Expenditures, Financing, and Economic Growth in Cape Verde

Christie¹,

Rioja²

2014

JEDS

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“…Literature on fiscal policy also reveals the effect of productive and unproductive spending by governments (Semmler et al, 2007). Public investment is defined as productive government expenditure and public consumption is defined as unproductive government expenditure.…”

Section: Re-thinking Counter-cyclical Policymentioning

confidence: 99%

Counter-Cyclical Challenges of Fiscal Policy: A Comparitive Analysis of South Africa and Brics Countries

Mellet

2014

MJSS

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“…23 Semmler et al (2007) develop in a theoretical framework of an economy where the government taxes optimally and spends on education and health, infrastructure, public consumption and transfers, and debt service. The model is calibrated and numerical examples are used to explore the impact of shifts in the consumption of government spending on long term per capita income and welfare.…”

Section: Other Selected Studies On the Growth-fiscal Linkmentioning

confidence: 99%

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

Wulf

Coutinho²,

Sassanpour³

et al. 2010

SSRN Journal

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Fiscal Policy, Public Expenditure Composition, And Growth Theory And Empirics

Cited by 59 publications

References 0 publications

Government Expenditures, Financing, and Economic Growth in Cape Verde

Government Expenditures, Financing, and Economic Growth in Cape Verde

Counter-Cyclical Challenges of Fiscal Policy: A Comparitive Analysis of South Africa and Brics Countries

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

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