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Fiscal deficits and growth in developing countries

Abstract:

This paper examines the relation between fiscal deficits and growth for a panel of 45 developing countries. Based on a consistent treatment of the government budget constraint, it finds evidence of a threshold effect at a level of the deficit around 1.5% of GDP. While there appears to be a growth payoff to reducing deficits to this level, this effect disappears or reverses itself for further fiscal contraction. The magnitude of this payoff, but not its general character, necessarily depends o...

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Publication status:
Not Published
Peer review status:
Not peer reviewed
Version:
Author's Original

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Institution:
University of Oxford
Oxford college:
St Cross College
Department:
Social Sciences Division - Economics
Role:
Author
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Institution:
University of Oxford
Oxford college:
St John's College
Department:
Social Sciences Division - Economics
Role:
Author
Series:
University of Oxford Department of Economics Discussion Paper Series
Publication date:
2002-01-01
ISSN:
1471-0498
URN:
uuid:d0c31795-76e7-4d14-87a0-5dac2b534088
Local pid:
ora:1667

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