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Public Expenditure and Growt: Emperical Evidence From Greece. International Jornal of Economics, 21-31. Angelopoulos, K., Economides, G., & Kammas, P. (2007). Tax-Spending Policies and Economic Growth Theoretical Predictions and Evidence From the OECD. European Journal of Political Economy, 23(4), 885-902. https://doi.org/10.1016/j.ejpoleco.2006.10.001 Aschauer, D. A. (1990). Is Governmet Spending in Stimulative? Contemporary Policy Issues, 8(4), 30-46. https://doi.org/10.1111/j.1465-7287.1990.tb00300.x Bachmann, R., & Sims, E. (2012). Confidence and the

References Abizadeh, S., & Gray, J. (1985). Wagner’s Law: a Pooled Time-Series Cross-Section Comparison. National Tax Journal, 687-694. Abubakar, A. B. (2016). Public Expenditure and Economic Growth in Nigeria: a Disaggregate Analysis. International Journal of Research in Economics and Social Sciences, 249-259. Acaravci, A., & Osturk, I. (2012). Foreign direct investment, Export and Economic Growth: Emperical Evidence from new EU countries. Institute for Economic Forecasting, 52-68. Afxentiou P.C., A. (1998). “Modeling the Relationship between Output and

Monetary Fund. DOI: 10.5089/9781484348796.001. Altunc, O.F., Aydın, C. (2013). The relationship between optimal size of government and economic growth: Empirical Evidence from Turkey, Romania and Bulgaria. Procedia - Social and Behavioral Sciences , 92 , 66–75. DOI: 10.1016/j.sbspro.2013.08.639. Aschauer, D.A. (1989). Is public expenditure productive? Journal of Monetary Economics , 23 (2), 177–200. DOI: 10.1016/0304-3932(89)90047-0. Asghari, R., Heidari, H. (2016). An investigation of the impact of size of the government on economic growth: Some new evidence from

Abstract

This study employs Autoregressive Distributed Lag (ARDL) bounds testing approach to co-integration and Granger causality technique to empirically examines the nature of relationship between infant mortality and public expenditure on health in Nigeria from 1980 – 2016. In addition, the study considers the roles of immunization, private health expenditure and external health resources on infant mortality in Nigeria. Among other things, the empirical results indicate the presence of significant conintegrating (long-run) relationship between infant mortality and government health expenditure (and private health expenditure, immunization and external health resources), coupled with the existence of bi-directional causal relationship between infant mortality and government health expenditure. In addition, the results also demonstrate that, government health expenditure, private health expenditure, immunization, and external health resources significantly influence infant mortality negatively both in the long and short term. Although, private health spending is shown as the major determinant of the reduction of infant mortality rate in Nigeria, due to the size of the coefficient of private health expenditure. In essence, the total overhaul of the Nigerian health sector, so as to improve the efficiency of the sector, as well curb the incidents of fund mismanagement which has plagued the sector overtime, coupled with the intensifying of immunization programs and activities are however recommended.

Abstract

This article provides a synthetic and easily understandable image of important financial characteristics of the Romanian public system to any person interested in the issue. It draws in general lines the etymology, legal and economic relevance of the budget, as well as the budget system structure and its development under the laws of public finances. It also presents the formation and use of budgetary flows, budgetary principles, consolidated general budget, economic and functional classification and surplus or deficit of budget. The current paper draws on the most known analysis indicators used in the literature. As a group, these analysis indicators convey the level (volume or size), the structure (the destination groups, subgroups, categories) and dynamics (the evolution in time) of budget and can be applied to both income and expenditure budgets. The paper’s objectives are to monitorize the evolution of the consolidated general budget and to analyse the employment deficit in the permissible limits (3%) in the reference period of the study (2012-2016)

Abstract

The fiscal and budget policies developed over the last few years by policy makers emphasize fiscal relaxation measures in order to stimulate economic growth. Expected by employers and employees alike, they sometimes lead to results opposite to those pursued, especially if they do not take into account the particularities of the economic domains concerned and the social realities of the state. Due to the limited and often insufficient financial resources, it is necessary to stimulate those areas considered as generators of growth, and a good example in this sense is the research, development and innovation. In the context of the difficulties of ensuring an optimal level of public funding, it becomes increasingly obvious that legislative changes of fiscal and budgetary nature and how they can be implemented can be both a basis for the sustainability of public finances and for increasing competitiveness and a disturbing factor in the labor market and progress.

Abstract

The purpose of the present paper is to find whether the spatial distribution of enterprise support policy funds meet the spatial objectives stated in Czech strategic documents related to enterprise support policy. Are more funds allocated in lagging regions, and does enterprise support policy contribute more to the convergence objective, or are more funds allocated in core regions, and does enterprise support policy contribute more to the competitiveness objective? These questions are answered by evaluating the Structural (and Cohesion) Fund (SF) expenditures that were allocated on operations categorised as part of enterprise support policy (2007-2013). The dependent variable relates to 206 regions, and SF expenditures are calculated for every inhabitant of a region. Moreover, two types of SF operation are distinguished: (a) innovationoriented operations; and (b) other enterprise support operations. Three explanatory variables are defined using Principal Components Analysis (PCA), and these components are understood as: (1) the social disadvantage of regions; (2) the innovation environment of regions; and (3) the quality of regional entrepreneurial environments. The associations between the dependent and explanatory variables are subsequently evaluated by methods of correlation and regression analysis. The findings provide some evidence for both the convergence and competitiveness objectives. Nevertheless, this evidence is rather limited due to a low spatial concentration of SF allocation, and the compensatory effect between the two thematic types of SF operations. Hence, while the quality of their innovation environment has a positive influence on regional SF allocation regardless of the thematic focus of SF operations, socially disadvantaged regions received more funds for SF operations which are not innovation-oriented. The capacity of potential beneficiaries to prepare and submit many project proposals for SF co-financing is the main reason for high or low SF allocation.

References Altunc, O. F., 2011. The relationship between public expenditures and economic growth: Empirical evidence for Turkey. Yönetim ve Ekonomi, 18 (2), 145-157. Antonis, A., Constantinos, K., and Persefoni, T., 2013. Wagner’s law versus Keynesian hypothesis: Evidence from pre-WWII Greece. Panoeconomicus, 60 (4), 457-472. http://dx.doi.org/10.2298/PAN1304457A Arisoy, I., 2005. The relationship between public expenditure and economic growth in the framework of Keynesian and Wagnerian hypothesis . Discussion Paper no. 2005/15. Turkish Economic Association

new age of uncertainty. Governance, 25 (1), 5-9. Department of Finance. (2011). Reforming Ireland’s budgetary framework: A discussion document. Retrieved from http://www.finance.gov.ie/sites/default/files/budgetref.pdf [13 April 2017]. Department of Public Expenditure and Reform. (2011). Public service reform plan. Dublin: Department of Public Expenditure and Reform. Department of Public Expenditure and Reform. (2014). Public service reform plan 2014-16. Dublin: Department of Public Expenditure and Reform. Department of the Taoiseach. (2008). Transforming public

Abstract

This paper studies the causal relationship between government revenue and government expenditure in Serbia, using quarterly data for the 2003 (Q1) - 2012 (Q4) period. In addition to the theoretical arguments regarding this causality, extensive empirical literature is also available. The problem of the fiscal deficit has been a significant burden for the economic system of Serbia for a number of years. Therefore, the relationship between government revenue and government expenditure represents an important issue that should be studied empirically in order to draw certain conclusions. In this paper, the Toda-Yamamoto long-run non-causality method is used to determine whether the causal relationship between government revenue and government expenditure exists in Serbia. The application of this method confirms the existence of a unidirectional (one-way) causality running from government expenditure to government revenue, which means that government expenditure Granger-causes government revenue.