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Public finances and long-term growth in Europe: Evidence from a panel data analysis

机译:欧洲的公共财政和长期增长:面板数据分析的证据

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This paper addresses the question whether public finance reform can affect trend growth in the EU-15. Focusing on time series patterns, we investigate whether there have been persistent trends in economic growth and fiscal variables over the last 40 years. In addition, we estimate a distributed lag model, which I) indicates that government size measured either with total expenditure or revenue shares, government consumption and direct taxation negatively affect growth rates of GDP per capita, while public investment has a positive impact, and 2) provides robust evidence that distortionary taxation affects growth in the medium-term through its impact on the accumulation of private capital.
机译:本文探讨了公共财政改革是否会影响欧盟15国的趋势增长的问题。针对时间序列模式,我们调查了过去40年中经济增长和财政变量是否存在持续的趋势。此外,我们估计了一个分布滞后模型,该模型I)表明以总支出或收入份额衡量的政府规模,政府消费和直接税对人均GDP的增长率产生负面影响,而公共投资则具有积极影响,2 )有力的证据表明,扭曲性税收通过影响私人资本的积累而影响中期增长。

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