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Middle East and Central Asia > Yemen, Republic of

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Cover IMF Working Papers
Government Expenditure and Economic Growth: An Empirical Investigation
International Monetary Fund
This paper examines the empirical evidence on the contribution that government and, in particular, capital expenditure make to the growth performance of a sample of developing countries. Using the Denison growth accounting approach, this study finds that social expenditures may have a significant impact on growth in the short run, but infrastructure expenditures may have little influence. While current expenditures for directly productive purposes may exert a positive influence, capital expenditure in these sectors appears to exert a negative influence. Experiments with other explanatory variables confirm the importance of the growth of exports to the overall growth rate.
Keywords:
WP; economic growth; government expenditure; capital expenditure; public spending; government consumption expenditure; capital infrastructure expenditure; expenditure priority; aggregate government expenditure; share of government consumption expenditure; expenditure category; maintenance expenditure; Capital spending; Current spending; Total expenditures; Human capital