Fiscal volatility, financial crises and growth

被引：19
|
作者：
Afonso, Antonio [2 ]
Jalles, Joao Tovar [1 ,3 ]
机构：
[1] European Cent Bank, Directorate Gen Econ, D-60311 Frankfurt, Germany
[2] Univ Tecn Lisboa, Dept Econ, UECE Res Unit Complex & Econ, ISEG UTL, Lisbon, Portugal
[3] Univ Aberdeen, Sch Business, Aberdeen AB24 3QY, Scotland
来源：
APPLIED ECONOMICS LETTERS | 2012年 / 19卷 / 18期
关键词：
growth; fiscal volatility; crises; panel analysis; POLICY;
D O I：
10.1080/13504851.2012.667531
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We use a panel of developed and emerging countries for the period 1970 to 2008 to assess how fiscal policy volatility and financial crises affect growth. We find that economic growth is lower in the presence of more volatile fiscal policy. Moreover, with a financial crisis government spending is stickier than revenue.
引用
收藏
页码：1821 / 1826
页数：6
相关论文
共 50 条
  • [31] Fiscal Convergence, Business Cycle Volatility, and Growth
    Furceri, Davide
    REVIEW OF INTERNATIONAL ECONOMICS, 2009, 17 (03) : 615 - 630
  • [32] The relationship between financial liberalization and stock market volatility: the mediating role of financial crises
    Ben Rejeb, Aymen
    Boughrara, Adel
    JOURNAL OF ECONOMIC POLICY REFORM, 2014, 17 (01) : 46 - 70
  • [33] Reserve accumulation, growth and financial crises
    Benigno, Gianluca
    Fornaro, Luca
    Wolf, Martin
    JOURNAL OF INTERNATIONAL ECONOMICS, 2022, 139
  • [34] Banking crises, financial dependence, and growth
    Kroszner, Randall S.
    Laeven, Luc
    Klingebiel, Daniela
    JOURNAL OF FINANCIAL ECONOMICS, 2007, 84 (01) : 187 - 228
  • [35] Fiscal crises
    Medas, Paulo
    Poghosyan, Tigran
    Xu, Yizhi
    Farah-Yacoub, Juan
    Gerling, Kerstin
    JOURNAL OF INTERNATIONAL MONEY AND FINANCE, 2018, 88 : 191 - 207
  • [36] Real exchange rate volatility, financial crises and exchange rate regimes
    Morales-Zumaquero, Amalia
    Sosvilla-Rivero, Simon
    APPLIED ECONOMICS, 2014, 46 (08) : 826 - 847
  • [37] Volatility-induced financial growth
    Dempster, Michael A. H.
    Evstigneev, Igor V.
    Schenk-Hoppe, Klaus R.
    QUANTITATIVE FINANCE, 2007, 7 (02) : 151 - 160
  • [38] Institutional causes, macroeconomic symptoms: volatility, crises and growth
    Acemoglu, D
    Johnson, S
    Robinson, J
    Thaicharoen, Y
    JOURNAL OF MONETARY ECONOMICS, 2003, 50 (01) : 49 - 123
  • [39] Seeking growth under financial volatility
    Bulmer-Thomas, Victor
    JOURNAL OF LATIN AMERICAN STUDIES, 2006, 38 : 861 - 862
  • [40] FINANCIAL DEVELOPMENT, SHOCKS, AND GROWTH VOLATILITY
    Mallick, Debdulal
    MACROECONOMIC DYNAMICS, 2014, 18 (03) : 651 - 688
12345