Structural public balance adjustment effects on growth in 25 OECD countries and the eurozone

被引：7
|
作者：
Canale R.R. [1 ]
Liotti G. [1 ]
Napolitano O. [1 ]
机构：
[1] Department of Business and Economic Studies, University of Naples 'Parthenope', Via Generale Parisi, 13, Naples
来源：
Comparative Economic Studies | 2014年 / 56卷 / 4期
关键词：
cross-section analysis dynamic panel data analysis; Fiscal policy; growth; pooled mean group estimator; structural adjustment;
D O I：
10.1057/ces.2014.26
中图分类号：
学科分类号：
摘要：
The aim of the paper is to estimate the effects of structural public balance adjustment on growth in 25 OECD countries with special attention to selected Eurozone countries in the years 2000-2013. The estimates show a positive effect of discretionary fiscal policy on GDP growth and support the conclusion that structural adjustments have negative effects on growth irrespective of macroeconomic conditions. These results show that, if the reduction of the structural balance has to be considered as an objective to be achieved per se, such a goal should not be pursued in times of deteriorating macroeconomic conditions. © 2014 ACES. All rights reserved.
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页码：635 / 656
页数：21
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