Fiscal volatility, financial crises and growth

Applied Economics Letters

Volumn 19, Issue 18, 2012, Pages 1821-1826

  Afonso, António ^a,b   Jalles, João Tovar ^b,c  

^a UNIVERSITY OF LISBON   (Portugal)

^b EUROPEAN CENTRAL BANK   (Germany)

^c UNIVERSITY OF ABERDEEN   (United Kingdom)

Author keywords

crises; fiscal volatility; growth; panel analysis

Indexed keywords

ECONOMIC GROWTH; FINANCIAL CRISIS; FISCAL POLICY; GOVERNMENT; PANEL DATA; PUBLIC SPENDING;

EID: 84861163398     PISSN: 13504851     EISSN: 14664291     Source Type: Journal    
DOI: 10.1080/13504851.2012.667531     Document Type: Article

References (16)

1. Afonso, A., Agnello, L. and Furceri, D. 2010. Fiscal policy responsiveness, persistence, and discretion. Public Choice, 145: 503-30.
2. Afonso, A. and Furceri, D. 2008. EMU enlargement, stabilisation costs and insurance mechanisms. Journal of International Money and Finance, 27: 169-87.
3. Afonso, A. and Furceri, D. 2010. Government size, composition, volatility and economic growth. European Journal of Political Economy, 26: 517-32.
4. Aghion, P., Barro, R. and Marinescu, I. 2006. Cyclical budgetary policies: their determinants and effects on growth mimeo
5. Barro, R. and Lee, J. W. 2010. International data on educational attainment, updates and implications, WP 42, Center for International Development, Cambridge, MA: Harvard University.
6. Beetsma, R. and Giuliodori, M. 2010. Discretionary fiscal policy: review and estimates for the EU. Economic Journal, 121: 34-32.
7. Bond, S., Hoeffler, A. and Temple, J. 2001. GMM estimation in empirical growth models, CEPR Discussion Paper No. 3048, London: CEPR.
8. Driscoll, J. and Kraay, A. 1998. Consistent covariance matrix estimation with spatially dependent panel data. Review of Economics and Statistics, 80: 135-57.
9. Easterly, W. and Rebelo, S. 1993. Fiscal policy and economic growth: an empirical investigation. Journal of Monetary Economics, 32: 417-58.
10. Easterly, W. R. 2001. The lost decades: developing countries stagnation in spite of policy reform 1980-1998. Journal of Economic Growth, 6: 135-57.
11. Fölster, S. and Henrekson, M. 2001. Growth effects of government expenditure and taxation in rich countries. European Economic Review, 45: 1501-20.
12. Laeven, L. and Valencia, F. 2010. Resolution of banking crises: the good, the bad, and the ugly, IMF Working Paper No. 10/146, Washington, DC: IMF.
13. Pesaran, H. 2004. General diagnostic tests for cross section dependence in panels, Cambridge Working Papers in Economics 0435, Cambridge, UK: University of Cambridge.
14. Plosser, C. I. 1992. The Search for Growth, Kansas City, MO: Federal Reserve Bank of Kansas City.
15. Sachs, J. and Sala-i-Martin, X. 1992. Fiscal federalism and optimum currency areas: evidence for Europe from the United States, CEPR Discussion Papers No. 632, London: CEPR Discussion Papers. CEPR
16. von Hagen, J. 1992. "Fiscal arrangements in a monetary union-some evidence from the US". In Fiscal Policy, Taxes, and the Financial System in an Increasingly Integrated Europe, Edited by: Fair, D. and de Boissieux, C. 337-60. Deventer: Kluwer Academic Publishers.