Clements, Benedict J.; Faircloth, Christopher; … - International Monetary Fund (IMF) - 2007
policy issues, including the cyclicality of spending, public investment, public employment, and social expenditures. It finds … that primary expenditures have trended upward for the past ten years as a share of GDP, driven by increases in current … spending, in particular for social expenditures. Fluctuations in real spending have continued to follow a procyclical pattern …