Fiscal volatility, financial crises and growth

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.

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Year of publication:	2012
Authors:	Afonso, António ; Jalles, João Tovar
Published in:	Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 19.2012, 18, p. 1821-1826
Publisher:	Taylor & Francis Journals

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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