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Government spending and sustainable economic growth: based on first- and second-level COFOG data

Title
Government spending and sustainable economic growth: based on first- and second-level COFOG data
Author
강성훈
Keywords
COFOG; economic growth; first- and second-level spending data; government expenditure; panel analysis
Issue Date
2019-08
Publisher
ROUTLEDGE JOURNALS
Citation
PUBLIC MONEY & MANAGEMENT, Page. v. 40, issue 2, page. 140-148
Abstract
The authors look at the effect of the composition of government spending on per capita GDP level using Classification of the Functions of Government (COFOG) data. Government spending on education was found to significantly impact per capita GDP in the short term. R&D spending on education and recreation, culture and religion was found to have a significant long-run GDP effect. This paper suggests that developed countries can successfully promote economic growth by redirecting their total spending portfolio toward education and by increasing their R&D spending on education and recreation, culture and religion.
URI
https://www.tandfonline.com/doi/full/10.1080/09540962.2019.1651035https://repository.hanyang.ac.kr/handle/20.500.11754/152586
ISSN
0954-0962; 1467-9302
DOI
10.1080/09540962.2019.1651035
Appears in Collections:
COLLEGE OF POLICY SCIENCE[S](정책과학대학) > POLICY STUDIES(정책학과) > Articles
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