When is government expenditure likely to be procyclical? While economists tend to anticipate counter-cyclical expenditure, recent studies report procyclical expenditure. This paper explores the impact of political ideology on the cyclicality of government expenditure. Predictions are tested with...

This paper explores the way governments rely on budgets. Budgets are classified with reference to functions (e.g. defence, education, etc.), but expenditure from one budget (e.g. the overseas budget) can prove as effective as expenditure from another budget (e.g. the environment budget) when...

This paper examines the effects of inflation targeting (IT) on output growth over the "globalization years" of 1986-2004. Employing static panel data methods that control for traditional growth determinants, trade openness and financial globalization, the paper finds that the adoption of a fully...