Government Spending Multipliers in Developing Countries : Evidence from Lending by Official Creditors
This paper uses a novel loan-level dataset covering lending by official creditors to developing country governments to construct an instrument for government spending. These loans typically finance multi-year spending projects, with disbursements linked to the stages of project implementation. The identification strategy exploits the long lags between approval and eventual disbursement of these loans to isolate a predetermined component of public spending associated with past loan approval decisions taken before the realization of contemporaneous shocks. In a large sample of 102 developing countries over the period 1970-2010, the one-year spending multiplier is reasonably-precisely estimated to be around 0.4.
Saved in:
| Main Author: | |
|---|---|
| Format: | Journal Article biblioteca |
| Language: | en_US |
| Published: |
American Economic Association
2014-10
|
| Subjects: | government spending multipliers, fiscal policy, |
| Online Access: | http://hdl.handle.net/10986/16313 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| id |
dig-okr-1098616313 |
|---|---|
| record_format |
koha |
| spelling |
dig-okr-10986163132021-04-23T14:03:28Z Government Spending Multipliers in Developing Countries : Evidence from Lending by Official Creditors Kraay, Aart government spending multipliers fiscal policy This paper uses a novel loan-level dataset covering lending by official creditors to developing country governments to construct an instrument for government spending. These loans typically finance multi-year spending projects, with disbursements linked to the stages of project implementation. The identification strategy exploits the long lags between approval and eventual disbursement of these loans to isolate a predetermined component of public spending associated with past loan approval decisions taken before the realization of contemporaneous shocks. In a large sample of 102 developing countries over the period 1970-2010, the one-year spending multiplier is reasonably-precisely estimated to be around 0.4. 2013-11-25T19:27:41Z 2013-11-25T19:27:41Z 2014-10 Journal Article American Economic Journal: Macroeconomics http://hdl.handle.net/10986/16313 en_US CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo American Economic Association American Economic Association Publications & Research :: Journal Article Publications & Research |
| institution |
Banco Mundial |
| collection |
DSpace |
| country |
Estados Unidos |
| countrycode |
US |
| component |
Bibliográfico |
| access |
En linea |
| databasecode |
dig-okr |
| tag |
biblioteca |
| region |
America del Norte |
| libraryname |
Biblioteca del Banco Mundial |
| language |
en_US |
| topic |
government spending multipliers fiscal policy government spending multipliers fiscal policy |
| spellingShingle |
government spending multipliers fiscal policy government spending multipliers fiscal policy Kraay, Aart Government Spending Multipliers in Developing Countries : Evidence from Lending by Official Creditors |
| description |
This paper uses a novel loan-level dataset covering lending by official creditors to developing country governments to construct an instrument for government spending. These loans typically finance multi-year spending projects, with disbursements linked to the stages of project implementation. The identification strategy exploits the long lags between approval and eventual disbursement of these loans to isolate a predetermined component of public spending associated with past loan approval decisions taken before the realization of contemporaneous shocks. In a large sample of 102 developing countries over the period 1970-2010, the one-year spending multiplier is reasonably-precisely estimated to be around 0.4. |
| format |
Journal Article |
| topic_facet |
government spending multipliers fiscal policy |
| author |
Kraay, Aart |
| author_facet |
Kraay, Aart |
| author_sort |
Kraay, Aart |
| title |
Government Spending Multipliers in Developing Countries : Evidence from Lending by Official Creditors |
| title_short |
Government Spending Multipliers in Developing Countries : Evidence from Lending by Official Creditors |
| title_full |
Government Spending Multipliers in Developing Countries : Evidence from Lending by Official Creditors |
| title_fullStr |
Government Spending Multipliers in Developing Countries : Evidence from Lending by Official Creditors |
| title_full_unstemmed |
Government Spending Multipliers in Developing Countries : Evidence from Lending by Official Creditors |
| title_sort |
government spending multipliers in developing countries : evidence from lending by official creditors |
| publisher |
American Economic Association |
| publishDate |
2014-10 |
| url |
http://hdl.handle.net/10986/16313 |
| work_keys_str_mv |
AT kraayaart governmentspendingmultipliersindevelopingcountriesevidencefromlendingbyofficialcreditors |
| _version_ |
1756573157384257536 |