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The Composition of Public Expenditure and Growth : A Small-Scale Intertemporal Model for Low-Income Countries / Bayraktar, Nihal
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Bayraktar, Nihal
- Series:
- Policy research working papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Budget Constraint.
- Debt Markets.
- Economic Theory and Research.
- Expenditure.
- Finance and Financial Sector Development.
- Government Spending.
- International Bank.
- Investment and Investment Climate.
- Investment Decisions.
- Macroeconomics and Economic Growth.
- Private Capital.
- Public Investment.
- Public Sector Economics and Finance.
- Public Sector Expenditure Analysis and Management.
- Public Spending.
- Tax.
- Tax Collection.
- Local Subjects:
- Budget Constraint.
- Debt Markets.
- Economic Theory and Research.
- Expenditure.
- Finance and Financial Sector Development.
- Government Spending.
- International Bank.
- Investment and Investment Climate.
- Investment Decisions.
- Macroeconomics and Economic Growth.
- Private Capital.
- Public Investment.
- Public Sector Economics and Finance.
- Public Sector Expenditure Analysis and Management.
- Public Spending.
- Tax.
- Tax Collection.
- Physical Description:
- 1 online resource (74 pages)
- Other Title:
- Composition Of Public Expenditure And Growth
- Place of Publication:
- Washington, D.C., The World Bank, 2007
- System Details:
- data file
- Summary:
- This paper presents a small-scale intertemporal model of endogenous growth that accounts for the composition of public expenditure and externalities associated with public capital. Government spending is disaggregated into various components, including maintenance, security, and investment in education, health, and core infrastructure. After studying its long-run properties, the model is calibrated for Haiti, using country-specific information as well as parameter estimates from the literature. A variety of policy experiments are then reported, including a reallocation of spending aimed at creating fiscal space to promote public investment; an improvement in fiscal management that leads to a reduction in tax collection costs; higher spending on security; and a composite fiscal package.
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