Expenditure Composition, Fiscal Adjustment, and Growth in Low-Income Countries [electronic resource] Clements, Benedict J..

Clements, Benedict J.
Washington, D.C. : International Monetary Fund, 2002.
Government document
1 online resource (40 p.)
IMF eLibrary
IMF Working Papers; Working Paper No. 02/77.
IMF Working Papers; Working Paper No. 02/77

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Annual budget. (search)
Budget balance. (search)
Budget balances. (search)
Budget composition. (search)
Budget constraint. (search)
Budget deficit. (search)
Budget deficits. (search)
Budget imbalances. (search)
Budgetary consolidation. (search)
Budgetary positions. (search)
Capital expenditure. (search)
Capital expenditures. (search)
Composition of expenditure. (search)
Composition of expenditures. (search)
Composition of government spending. (search)
Composition of public spending. (search)
Economic growth. (search)
Expenditure. (search)
Expenditure categories. (search)
Expenditure composition. (search)
Expenditure items. (search)
Expenditure priorities. (search)
Expenditure reform. (search)
Expenditures. (search)
Fiscal adjustment. (search)
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Fiscal adjustments. (search)
Fiscal affairs. (search)
Fiscal affairs department. (search)
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Fiscal Policy. (search)
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Fiscal position. (search)
Fiscal positions. (search)
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Fiscal stance. (search)
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General. (search)
Government budget. (search)
Government budget balance. (search)
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Government expenditure. (search)
Government expenditures. (search)
Government spending. (search)
Primary deficit. (search)
Production. (search)
Public debt. (search)
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Public expenditure. (search)
Public expenditure composition. (search)
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Public expenditures. (search)
Public Expenditures, Investment, and Finance. (search)
Public sector wage bill. (search)
Public spending. (search)
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Structural adjustment. (search)
Tax administration. (search)
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Central African Republic. (search)
Gambia, The. (search)
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This paper assesses the effects of expenditure composition as well as fiscal adjustment on economic growth in a sample of 39 low-income countries during the 1990s. The paper finds that strong budgetary positions and fiscal consolidation are generally associated with higher economic growth in both the short and long terms. The composition of public outlays also matters: Countries where spending is concentrated on wages tend to have lower growth, while those that allocate higher shares to capital and nonwage goods and services enjoy faster output expansion. Expenditure composition, along with the size of the fiscal consolidation and initial fiscal conditions, affects the sustainability of adjustment. Initial fiscal conditions also have a bearing on the nexus between fiscal deficits and growth.
Description based on print version record.
Baldacci, Emanuele.
Clements, Benedict J.
Gupta, Sanjeev.
Mulas-Granados, Carlos.
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