{
  "title": "Public Expenditure in Latin America: Trends and Key Policy Issues",
  "publication": "IMF Working Papers, February 1, 2007",
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  "summary": "This paper examines trends in government spending in Latin America from the mid-1990s to 2006. It also examines key policy issues, including the cyclicality of spending, public investment, public employment, and social expenditures.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Examines trends in government spending in Latin America from the mid-1990s to 2006.\n- Focus areas: the cyclicality of spending, public investment, public employment, and social expenditures."
    },
    {
      "heading": "Key findings",
      "content": "- Primary expenditures have trended upward for the past ten years as a share of GDP.\n- The upward trend was driven by increases in current spending, in particular for social expenditures.\n- Fluctuations in real spending have continued to follow a procyclical pattern.\n- There is substantial scope to improve the efficiency of:\n  - public investment,\n  - public employment,\n  - social spending."
    },
    {
      "heading": "Policy issues examined",
      "content": "- Cyclicality of spending: patterns and implications for stabilization and fiscal policy.\n- Public investment: quality and efficiency concerns.\n- Public employment: composition and cost-efficiency considerations.\n- Social expenditures: drivers of spending growth and efficiency of outcomes."
    },
    {
      "heading": "Implications and recommendations (as derived from the paper's analysis)",
      "content": "- Strengthen mechanisms to reduce procyclicality of real spending to improve fiscal stabilization.\n- Improve the efficiency of public investment to enhance returns on capital spending.\n- Reform public employment structures to raise efficiency and contain recurrent costs.\n- Enhance efficiency of social spending to better target outcomes while containing fiscal pressures.\n\nSource: Public Expenditure in Latin America: Trends and Key Policy Issues\n\n---\n\n Content in this bundle\n\n- wp0721 — Government Effectiveness\n  - wp0721 — Government Effectiveness (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp0721 — Government Effectiveness (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/public-expenditure-in-latin-america-trends-and-key-policy-issues-20244"
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    "Authors: Benedict J. Clements, Christopher Faircloth, Marijn Verhoeven",
    "Published: February 1, 2007",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451865851.001",
    "Examines trends in government spending in Latin America from the mid-1990s to 2006.",
    "Focus areas: the cyclicality of spending, public investment, public employment, and social expenditures.",
    "Primary expenditures have trended upward for the past ten years as a share of GDP.",
    "The upward trend was driven by increases in current spending, in particular for social expenditures.",
    "Fluctuations in real spending have continued to follow a procyclical pattern.",
    "There is substantial scope to improve the efficiency of:",
    "Cyclicality of spending: patterns and implications for stabilization and fiscal policy.",
    "Public investment: quality and efficiency concerns.",
    "Public employment: composition and cost-efficiency considerations.",
    "Social expenditures: drivers of spending growth and efficiency of outcomes.",
    "Strengthen mechanisms to reduce procyclicality of real spending to improve fiscal stabilization.",
    "Improve the efficiency of public investment to enhance returns on capital spending.",
    "Reform public employment structures to raise efficiency and contain recurrent costs.",
    "Enhance efficiency of social spending to better target outcomes while containing fiscal pressures.",
    "**_wp0721 — Government Effectiveness**"
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