Suchergebnisse

Using an unbalanced panel of 18 Uruguayan regional governments from 1991 to 2017, we explore the hypothesis of flypaper and asymmetrical effects on the regional public expenditures. Specifically, the flypaper hypothesis states that the propensity of sub-national governmental units to spend intergovernmental unconditional transfers is higher than the propensity to spend on the demand for regional public services by local private agents. The application of panel data techniques with the use of instrumental variables highlights the presence of sizeable flypaper effect but not asymmetry ones. Our estimations also identify that political economy factors play an important role in the regional budgeting processes in Uruguay. This paper contributes to the scarce empirical evidence about the effects of unconditional central government transfers on subnational finances for middle-income countries. ; Utilizando un panel desbalanceado de 18 gobiernos regionales uruguayos desde 1991 hasta 2017, exploramos las hipótesis de los efectos de papel matamoscas y de asimetría en el gasto público regional. En concreto, la hipótesis del papel matamoscas señala que la propensión de las unidades gubernamentales subnacionales a gastar las transferencias no condicionadas intergubernamentales es mayor que la propensión a gastar en la demanda de servicios públicos regionales por parte de los agentes privados locales. La aplicación de técnicas de datos de panel con el uso de variables instrumentales pone de manifiesto la presencia de un efecto papel matamoscas considerable, pero no de asimetría. Nuestras estimaciones también identifican que los factores de economía política juegan un papel importante en los procesos presupuestarios regionales en Uruguay. Este trabajo contribuye a la escasa evidencia empírica sobre los efectos de las transferencias no condicionadas del gobierno central en las finanzas subnacionales para los países de renta media.

This collection includes a selection of research by students of the PhD Program in Applied Economics (UAB) and the Master of Applied Research in Economics and Business (MAREB) - specialization in Applied Economics ; In this paper, we empirically analyse redistributive efficiency of fiscal policy -instruments and their degree of decentralisation- and its determinants for a sample of thirty-five developed and developing countries over the 2000-2016 period. To do this, a two-stage procedure is followed. First, we estimate the redistributive efficiency of fiscal policy - taking into account size and decentralisation degree of cash transfers and direct taxes- by employing a Data Envelopment Analysis (DEA) method. We obtain evidence that efficiency varies across countries and -on average- has diminished over time. Yet, fiscal decentralisation might not play a role in efficiency. Second, a truncated regression analysis is used to identify the potential factors that might explain redistribution efficiency variation across countries and time. Our results show that efficiency is associated with having a non-federal political system, high government effectiveness and democratic accountability, low education inequality and the existence of debt fiscal rules.

Abstract: In this paper we analyze the impact of exchange rate uncertainty on export flows among a panel of 27 countries throughout the 1994/01-2014/12 period. In order to do this, we apply a panel vector autoregressive model approach. By dividing the panel into two subgroups that involve manufacturing-exporting and commodity-exporting economies, we observe a different effect of exchange rate uncertainty on exports. This has a negative impact in manufacturing-exporting countries, but does not affect commodity exporting countries. This result appears to be explained by countries' economics characteristics, involving the flexibility or rigidities of the export adjustment arising exchange rate uncertainty.

AbstractIn this article, we empirically analyze the impact of central and subnational government spending on human development in a sample of 57 developed and developing countries over the period 2000–18. Specifically, we focus on the effects of health and education public expenditure on the Human Development Index (HDI) and its dimensions (life expectancy, education, and income). Applying data panel analysis, our empirical evidence shows the importance of central and subnational government health expenditure positively impacting on HDI and each of its components, while in the case of the education expenditure, this positive effect is only confirmed on the educational dimension of HDI. Our study shows how governments can stimulate human development, improving the well‐being of citizens, by allocating more resources to healthcare through the different administrative levels.

Altres ajuts: Acord transformatiu CRUE-CSIC ; Agencia Nacional de Investigación e Innovación (ANII) of Uruguay (POS_EXT_2018_1_153809) ; In this article, we empirically analyze the impact of central and subnational government spending on human development in a sample of 57 developed and developing countries over the period 2000-18. Specifically, we focus on the effects of health and education public expenditure on the Human Development Index (HDI) and its dimensions (life expectancy, education, and income). Applying data panel analysis, our empirical evidence shows the importance of central and subnational government health expenditure positively impacting on HDI and each of its components, while in the case of the education expenditure, this positive effect is only confirmed on the educational dimension of HDI. Our study shows how governments can stimulate human development, improving the well-being of citizens, by allocating more resources to healthcare through the different administrative levels.

This article analyses the redistributive efficiency of social transfers and direct taxation in a panel of 28 developed economies during the period 1995–2010. In order to explore how redistribution is achieved through these fiscal policies, a two-stage approach is applied. First, we evaluate their redistributive efficiency – the degree of redistribution attained for a given level of transfers and taxes – using data envelopment analysis (DEA). We find lower redistributive efficiency in Southern Europe and the United States and higher efficiency levels in the Nordic and Central European countries and Australia. Second, we use panel regression analysis to identify the determinants of efficiency differences and reveal the crucial role of government quality as well as factors affecting the redistributive profile of fiscal policies.