Friday, November 14, 2014
Tweet[IWS] ADB: GOVERNMENT SPENDING AND INCLUSIVE GROWTH IN DEVELOPING ASIA [12 November 2014]
IWS Documented News Service
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School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
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Asian Development Bank (ADB)
ADB Economics Working Paper Series No. 415
GOVERNMENT SPENDING AND INCLUSIVE GROWTH IN DEVELOPING ASIA [12 November 2014]
by Seok-Kyun Hur
http://www.adb.org/publications/government-spending-and-inclusive-growth-developing-asia
or
http://www.adb.org/sites/default/files/publication/149219/ewp-415.pdf
[full-text, 46 pages]
This paper assesses the effects of fiscal policy on both equity and growth, specifically whether it is
possible to design fiscal spending so that it enhances equity without sacrificing economic growth and
vice versa. A cross-country panel vector autoregression (PVAR) using the World Development
Indicators confirms the growth effects of individual fiscal spending items as anticipated whereas
distributional effects were either temporarily positive or negligible for most fiscal items. However,
compared with Organisation for Economic Co-operation and Development members, spending on
public health and public education appeared to alleviate income inequality significantly in the Asian
Development Bank members. This implies that fiscal expenditure policies may contribute more to
inclusive growth in developing economies than in advanced ones.
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