Testing the Robustness of Public Spending Determinants on Public Spending Decisions in Nigeria

This study tests the robustness of variables used in determining public spending in Nigeria from 1970 to 2016. This is achieved through the simultaneous use of a symmetric and asymmetric ARDL and Toda–Yamamoto causality procedures. The empirical findings reveal sufficient evidence of asymmetry in the behaviour of policy variables such as oil price, inflation rate, and the exchange rate. Hence, the conclusion that asymmetry significantly exists in key variables, used by Nigerian fiscal authorities for spending decision-making. Also, the asymmetric Toda–Yamamoto causality result reveals that increase in oil price, depreciation in the Naira value, and government revenue are the key determinants of public spending. Hence, the revenue-spend hypothesis. It is recommended that the re-investment of surplus proceeds from oil receipts should be given much priority. Specifically, the re-investment of such revenues into sectors such as manufacturing, construction, and information technology, will speed-up the diversification process of the revenue base; and sufficiently reduce the negative effects a decline in the oil price, and the Naira exchange rate will have on public spending. The policy of inflation targeting by the monetary authority should be sustained to check unwarranted inflationary trajectory; which may have an adverse effect on public spending value.     

公共资本性支出、经常性支出与内生经济增长

本文基于一个含有两类不同产出能力的公共商品的内生增长模型,通过数理分析得出在市场经济条件下最优公共支出结构的依据是公共商品各自的产出弹性.进而采用面板数据模型对13个发达国家1972～2009年的公共支出实践进行了实证研究.实证结果表明,经常性(资本性)支出对经济增长有正(负)效应.该研究结论为平衡预算下的公共支出结构决策提供了参考依据.     

Spending Time and Money within the Household*

We consider, both theoretically and empirically, the allocation of time and money within the household. The research question is whether a married person who enjoys more leisure than their partner also receives more consumption (which seems to indicate the outcome of power within the household) or receives less consumption (which seems to indicate differing intrahousehold preferences). We develop a simple parametric structural model with household production that is tested on survey data. We find that relative wages have an impact on power. For leisure, this effect is dominated by a conventional wage effect, in which the partner who has the higher wage takes less leisure.     

Public Debt,Productive Public Spending and Endogenous Growth

We analyse the effects of public debt in a basic endogenous growth model with productive public spending. We demonstrate that a discretionary policy in general violates the intertemporal government budget constraint along a balanced growth path. A balanced government budget gives a unique saddle point stable growth path. With a rule‐based policy, two saddle point stable balanced growth paths can occur, depending on the intertemporal elasticity of substitution of consumption and on the primary surplus policy. Higher debt goes along with smaller long‐run growth and we derive a condition such that a deficit‐financed increase in public spending raises the growth rate.     

Schumpeterian Growth with Productive Public Spending and Distortionary Taxation

Schumpeterian growth theory eliminates the scale effect by positing a process of development of new product lines that fragments the aggregate market in submarkets whose size does not increase with population or the size of the workforce. This entails the sterilization of the growth effects of selected fiscal variables. This insight is applied to shed new light on the role of distortionary taxes on consumption, household labor and assets income, corporate income, and of productive public spending. The framework allows the identification of which of these fiscal variables have permanent (steady‐state) growth effects, and which ones have only transitory effects. It also allows the transitional dynamics to be solved analytically and thus the analysis of the welfare effects of revenue‐neutral changes in tax structure. It is found that replacing taxes that distort labor supply with taxes that distort saving/investment choices raises welfare, and the intuition behind this surprising result is discussed.     

经济增长、地区收入差距与公共支出

建立包含公共基础设施的两地区内生增长模型,将公共支出政策纳入统一的分析框架,同时合并考虑政府调控的各种支出手段对区域发展的综合影响。该模型表明与转移支付和传统的区域政策相对照,旨在减少革新成本的公共支出政策能提高经济增长率,同时促进区域间平等。     

Public Spending and Private Investment: Evidence From Greece

The aim of this paper is to investigate whether there is a link between disaggregated measures of government expenditures and private investment in Greece. A cointegration analysis of a multivariate system of equations is applied in order to empirically estimate the long run relationships between private investment and different measure of government expenditures. Subsequently IRF and VDC are estimated. Government investment is found to assert a positive effect on private investment, supporting in this way the capital accumulation process. On the other hand, government consumption appears to compete for the same resources with government investment, while it negatively affects private investment. [E62]     

军费开支、治安水平与随机内生增长

建立一个随机宏观模型,考虑到军费开支和治安水平,采用随机最优化的方法,把军费开支作为宏观经济变量并进入个人效用和生产函数,得到经济达均衡时军费开支、个人收入的风险对治安水平的影响。同时求出最优的增长率和个人资本与财富比、消费和财富比。     

Tax Rate Variability and Public Spending as Sources of Indeterminacy

We consider a constant returns to scale, one sector economy with segmented asset markets of the Woodford type. We analyze the role of public spending, financed by labor income and consumption taxation, on the emergence of indeterminacy. We find that what is relevant for indeterminacy is the variability of the distortion introduced by government intervention. We show that the degree of public spending externalities in preferences affects the combinations between the tax rate and its variability under which indeterminacy occurs. Moreover, we find that consumption taxes can lead to local indeterminacy when asset markets are segmented.     

Women’s Employment and Public Spending: A Cross-Country Study

International Advances in Economic Research - The relationships between public spending, employment, and growth are already complex and yet this complexity increases when considering employment...     

我国政府公共支出规模变动趋势研究——对1996年—2003年样本数据的分析结论

改革开放二十多年,我国政府公共支出规模走出了一条“先降再升”的曲线,1996年以来呈现出不断扩大的趋势。进行国际比较的结果是:政府名义支出规模与发达国家差约20个百分点,与中等发达国家差约13个百分点,与同类型的国家差约5个百分点,基本与落后国家规模相当。其结论是:在积极的财政政策淡出以后,政府公共支出在结构优化的同时,规模还应稳健增长。     

The Impact of Public Health Spending on California STD Rates

This study assesses the impact of county-level public health spending on rates of sexually transmitted disease (STD) in California. Across a variety of empirical specifications, increases in own-county public health spending reduce rates of gonorrhea and syphilis. Indeed, a $1 increase in per capita public health spending reduces the gonorrhea (syphilis) rate by approximately 0.30 (0.60) percent. Spillover effects are also associated with public health spending, as increases in border-county spending reduce STD rates. To varying degrees of significance, county STD rates are also sensitive to lagged STD rates, county racial composition, whether or not a public university is located within the county, and a yearly time trend.     

财产税和地方公共支出对财产价值的影响

本文的目的是提供一些关于地方公共预算对社区内财产价值的影响的经验结论。通过财产税的转移理论，本文分析了整体税收对地主租金收入和对佃户付出的影响。研究结果表明了税收和支出方案对地方财产价值的影响方向，以及粗略估计的数量级。     

省级社会保障公共支出分类比较研究

中国省级社会保障公共支出存在着类型化的可能。通过选取"社会保障公共支出水平"、"经济发展水平"和"政府力量"三个变量作为分类框架和指标,利用2005—2008年度截面数据测算,可以将各省份区分为东中西三大类型区域。统计分析发现,这三类区域不仅在省级社会保障公共支出相对比重之间存在着显著的差异,而且各区域也形成了不同的社会保障发展机制。     

Public Spending on Industries,Private Investment and the Timing of International Trade Policy Changes

This paper incorporates public spending on industries (in terms of a durable public intermediate good) into a two-country, two-period, and two-sector, model with international labour mobility. The relationship between international trade policies, private investment, and public spending on industries has been examined. Due to international labour mobility, a policy change in one country also affect the relevant variables in the other country. The timing of the policy change is shown to be ciritical. [H30, F20]     

Public Preferences for Government Spending Priorities: Survey Evidence from Germany

Employing data from a representative survey conducted in Germany, this paper examines public preferences for the size and composition of government expenditure. We focus on public attitudes towards taxes, public debt incurrence and public spending in six different policy areas. Our findings suggest, first, that individual preferences for the use of additional tax money can be categorised as either capital‐oriented expenditure or public debt reduction. Second, we find that fiscal preferences differ along various dimensions. Specifically, personal economic well‐being, economic literacy, confidence in politicians, political ideology and time preference are significantly related to individual attitudes towards public spending, taxes and debt. The magnitude of the effects is particularly large for time preference, economic knowledge and party preference. Third, public preferences for public spending priorities are only marginally affected when considering a public budget constraint.     

财政政策、货币政策与国外经济援助

本文通过把国外经济援助分成直接对私人的经济援助和直接对政府的经济援助来讨论这两类经济援助对政府财政政策和货币政策的影响。我们发现对私人的经济援助的增加可以使得私人消费水平和政府公共消费水平增加 ,但是它也导致政府收入税税率和通货膨胀率的提高 ;另一方面 ,对政府的经济援助增加可以使得均衡时的私人资本存量、私人消费水平和政府公共消费水平增加 ,同时可以使得均衡时的收入税税率和通货膨胀率下降。