Government Spending (Expenditure) and Economic Growth: Based on First and Second level COFOG Data

• 영문명: Government Spending (Expenditure) and Economic Growth: Based on First and Second level COFOG Data
• 발행기관: 한국재정학회(구 한국재정·공공경제학회)
• 저자명: 정성호(Seong-Ho, Jeong)
• 간행물 정보: 『한국재정학회 학술대회 논문집』2017년도 추계학술대회 논문집, 1~11쪽, 전체 1쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2017.09.30

영문 초록

This study investigates the effect of a specific government spending on the per capita output by using Classification of the Functions of Government (COFOG) data. We analyzed not only the effect of the first level (division) category on the per capita output, but also specified the impact of the second level R&D data (group). The result of the empirical analysis showed that the government spending on the education has the most important role in the economic growth as it has both strong short-run and long-run effect on GDP per capita. Besides, the R&D spending on the education has the significant long-term growth effect in the analysis of the second level R&D data. In sum, the government spending on education is the most influential factor of the economic growth in the sample of the developed countries and they could promote their economic growth via re-composition of their spending portfolio toward human capital accumulation.

목차

previous studies & direction

Theoretical underpinnings

Trend of Gov’t Spending

Data (GFS vs. SNA)

COFOG 체계

Empirical Specification

Results

Discussion and Conclusion

키워드

COFOG Economic Growth Governmet Expenditure