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Is Social Spending Procyclical?

Author/Editor: Arze del Granado, Javier | Gupta, Sanjeev | Hajdenberg, Alejandro
Authorized for Distribution: October 1, 2010
Electronic Access: Free Full Text (PDF file size is 1,139KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: This paper studies the cyclical behavior of public spending on health and education in 150 countries during 1987 - 2007. It finds that spending on education and health is procyclical in developing countries and acyclical in developed countries. In addition, education and health expenditures follow an asymmetric pattern in developing countries; they are procyclical during periods of positive output gap and acyclical during periods of negative output gap. Furthermore, the degree of cyclicality is higher the lower the level of economic development.
 
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Series: Working Paper No. 10/234
Subject(s): Business cycles | Developed countries | Developing countries | Education | Fiscal policy | Government expenditures | Health care
Author's keyword(s): Fiscal policy | business cycles | social spending
 
English  
    Published:   October 1, 2010        
            Format:   Paper
    Stock No:   WPIEA2010234   Pages:   22
    Price:   US$18.00 (Academic Rate: US$18.00 )
       
     
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