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Is Social Spending Procyclical?, Sanjeev Gupta, Alejandro Hajdenberg, Javier Arze del Granado

Abstract
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
Table Of Contents
Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. The Empirical Strategy and Data; 1. Descriptive Statistics; 1. Health and education Expenditure Trends; 2. Share of Education and Health Expenditures in Total Expenditures; III. Estimation Results; 3. Cyclicality of Public Expenditures; 4. Cyclicality of Total, Education, and Health Public Expenditures; 5. Cyclicality in Good Times and Bad Times; 6. Cyclicality of Expenditures by Level of Development; 7. Cyclicality of Expenditures by Level of Development; IV. Conclusions and Policy Implications
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (33 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781455254705

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