Alternative models to explain the evolution of Spanish public spending
To study the evolution of public spending in Spain during 1964-2016, this article empirically con-trasts different alternative models, with variables from both the supply and demands sides, The usual methodology of unit roots and cointegration in time series is used to contrast models, using as a ba...
- Autores:
- Tipo de recurso:
- Fecha de publicación:
- 2019
- Institución:
- Universidad de Medellín
- Repositorio:
- Repositorio UDEM
- Idioma:
- spa
- OAI Identifier:
- oai:repository.udem.edu.co:11407/5597
- Acceso en línea:
- http://hdl.handle.net/11407/5597
https://doi.org/10.22395/seec.v22n51a8
- Palabra clave:
- Public spending
Public finance model
Public choice model
Public administration model
Unit roots
Cointegration
Gasto público
Modelo de finanças públicas
Modelo de eleição pública
Modelo de administração pública
Raízes unitárias
Cointegração
Gasto público
Modelo de hacienda pública
Modelo de elección pública
Modelo de administración pública
Raíces unitarias
Cointegración
- Rights
- License
- http://creativecommons.org/licenses/by-nc/4.0
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dc.title.eng.fl_str_mv |
Alternative models to explain the evolution of Spanish public spending |
dc.title.por.fl_str_mv |
Modelos alternativos para explicar a evolução do gasto público espanhol |
dc.title.spa.fl_str_mv |
Modelos alternativos para explicar la evolución del gasto público español |
title |
Alternative models to explain the evolution of Spanish public spending |
spellingShingle |
Alternative models to explain the evolution of Spanish public spending Public spending Public finance model Public choice model Public administration model Unit roots Cointegration Gasto público Modelo de finanças públicas Modelo de eleição pública Modelo de administração pública Raízes unitárias Cointegração Gasto público Modelo de hacienda pública Modelo de elección pública Modelo de administración pública Raíces unitarias Cointegración |
title_short |
Alternative models to explain the evolution of Spanish public spending |
title_full |
Alternative models to explain the evolution of Spanish public spending |
title_fullStr |
Alternative models to explain the evolution of Spanish public spending |
title_full_unstemmed |
Alternative models to explain the evolution of Spanish public spending |
title_sort |
Alternative models to explain the evolution of Spanish public spending |
dc.subject.eng.fl_str_mv |
Public spending Public finance model Public choice model Public administration model Unit roots Cointegration |
topic |
Public spending Public finance model Public choice model Public administration model Unit roots Cointegration Gasto público Modelo de finanças públicas Modelo de eleição pública Modelo de administração pública Raízes unitárias Cointegração Gasto público Modelo de hacienda pública Modelo de elección pública Modelo de administración pública Raíces unitarias Cointegración |
dc.subject.por.fl_str_mv |
Gasto público Modelo de finanças públicas Modelo de eleição pública Modelo de administração pública Raízes unitárias Cointegração |
dc.subject.spa.fl_str_mv |
Gasto público Modelo de hacienda pública Modelo de elección pública Modelo de administración pública Raíces unitarias Cointegración |
description |
To study the evolution of public spending in Spain during 1964-2016, this article empirically con-trasts different alternative models, with variables from both the supply and demands sides, The usual methodology of unit roots and cointegration in time series is used to contrast models, using as a basis autoregressive distributed delay models for the long term and error correction models for the short term. Of the three models that were taken in account, the one that best explains the behavior of the Spanish public sector is the public finance model to which the explanatory bureau-cracy variable has been added. |
publishDate |
2019 |
dc.date.accessioned.none.fl_str_mv |
2019-12-05T15:56:57Z |
dc.date.available.none.fl_str_mv |
2019-12-05T15:56:57Z |
dc.date.created.none.fl_str_mv |
2019-11-06 |
dc.date.issued.none.fl_str_mv |
2019-11-06 |
dc.date.none.fl_str_mv |
2019-04-01 |
dc.type.coarversion.fl_str_mv |
http://purl.org/coar/version/c_970fb48d4fbd8a85 |
dc.type.coar.fl_str_mv |
http://purl.org/coar/resource_type/c_2df8fbb1 |
dc.type.driver.none.fl_str_mv |
info:eu-repo/semantics/article |
dc.identifier.issn.none.fl_str_mv |
1692-2530 |
dc.identifier.uri.none.fl_str_mv |
http://hdl.handle.net/11407/5597 |
dc.identifier.doi.none.fl_str_mv |
https://doi.org/10.22395/seec.v22n51a8 |
dc.identifier.eissn.none.fl_str_mv |
2248-4078 |
dc.identifier.reponame.spa.fl_str_mv |
reponame:Repositorio Institucional Universidad de Medellín |
dc.identifier.instname.spa.fl_str_mv |
instname:Universidad de Medellín |
identifier_str_mv |
1692-2530 2248-4078 reponame:Repositorio Institucional Universidad de Medellín instname:Universidad de Medellín |
url |
http://hdl.handle.net/11407/5597 https://doi.org/10.22395/seec.v22n51a8 |
dc.language.iso.none.fl_str_mv |
spa |
language |
spa |
dc.relation.none.fl_str_mv |
https://revistas.udem.edu.co/index.php/economico/article/view/2962 |
dc.relation.ispartof.none.fl_str_mv |
Semestre Económico |
dc.relation.ispartofseries.none.fl_str_mv |
Semestre Económico Universidad de Medellín Vol. 22 Núm. 51 (2019) |
dc.relation.haspart.none.fl_str_mv |
Semestre Económico; Vol. 22 Núm. 51 abril-junio 2019 |
dc.relation.citationvolume.none.fl_str_mv |
22 |
dc.relation.citationissue.none.fl_str_mv |
51 |
dc.relation.citationstartpage.none.fl_str_mv |
169 199 |
dc.relation.citationendpage.none.fl_str_mv |
p. 169-199 |
dc.relation.references.none.fl_str_mv |
Alcaide, Julio. (1988). El gasto público en la democracia española: los hechos. En: Papeles de Economía Española, n.o 37, p. 2-41. Aranson, Peter y Ordeshook, Peter. (1977). Incrementalism, the fiscal illusion and the growth of government in representative democracies. Miami: University of Miami, 80 p. Bergstrom, Theodore y Goodman, Robert. (1973). Private Demands for Public Goods. En: American Economic Review, vol. 63, n.o 3, p. 280-296. Borcherding, Thomas; Bush, Winston y Spann, Robert. (1977). The effects on public spending of the divisibility of public outputs in consumption, bureaucratic power and the size of the tax-sharing group. En: Borcherding, Thomas. (Ed.). Budgets and Bureaucrats: The Sources of Government Growth. Ann Arbor: Umi Research Pr, p. 211-228. Borcherding, Thomas. (1985). The causes of government expenditure growth: A survey of the U.S. evidence. En: Journal of Public Economics, vol. 28, n.o 3, p. 359-382. Doi: doi.org/10.1016/0047-2727(85)90065-9 Borcherding, Thomas y Deacon, Robert. (1972). The demand for the services of non-federal governments. En: American Economic Review, vol. 62, n.o 5, p. 891-901. Bush, Winston y Denzau, Arthur. (1977). The voting behavior of bureaucrats and public sector growth. En Borcherding, Thomas (Ed.). Budgets and Bureaucrats: The Sources of Government Growth. Ann Arbor: Umi Research Pr, p. 90-99. Comin, Francisco y Díaz, Daniel (2005). Sector público administrativo y estado del bienestar. En: Tufannel, Xavier y Carrearas Albert. Estadísticas Históricas de España. Fundación BBVA. Madrid, p.873974. Courakis, Anthony; Moura-Roque, Fátima y Tridimas, George. (1993). Public expenditure growth in Greece and Portugal: Wagner´s law and beyond. En: Applied Economics, vol. 25, n.o 1, p. 125-134. Doi: 10.1080/00036849300000121 Cullis, John y Jones, Philip. (2009). Public Finance and Public Choice. Analytical Perspectives. Oxford: University Press, 560 p. Gemmell, Norman. (1990). Wagner s Law, Relative Prices and the Size of the Public Sector. En: Manchester School of Economics and Social Studies, vol. 58, n.o 4, p. 361-377. Doi: /abs/10.1111/j.1467-9957.1990.tb00428.x Gemmell, Norman. (Ed.). (1993). The Growth of the Public Sector: Theories and International Evidence. Aldershot: Edward Elgar Publishing, 261 p. Gemmell, Norman; Gill, Derek y Nguyen, Loc. (2016). Explaining the Size of the State in New Zealand, 1972-2014. Wellington: Victoria University of Wellington, 36 p. Hood, Christopher. (1991). A Public Management for All Seasons? En: Public Administration, vol. 69, p. 3-19. Jaén-García, Manuel. (2004). Evolución contemporánea del gasto público en España. Almería: Universidad de Almería, 240 p. Jaén-García, Manuel. (2016). Public expenditure and deficit in Spain (1958-2014). En: Semestre Económico, vol. 19, n.o 40, p. 17-52. Doi: doi.org/10.22395/seec.v19n40a1. Jaén-García, Manuel. (2017). A Demand Determinants Model for Public Spending in Spain. En: International Journal of Economics and Financial Issues, vol. 7 n,o 4, p. 372-386. Jordana, Jacint y Ramío, Carles. (2005). Gobierno y Administración. En: Tafunell, Xavier y Carreras Albert. Estadísticas Históricas de España .Madrid: BBVA, p.973-1026. Lowery, David y Berry, William. (1983). The Growth of Government in the United States: An Em-pirical Assessment of Competing Explanations. En: American Journal of Political Science, vol. 27, n.o 4, p. 665-694. Doi: 10.2307/2110888 Meltzer, Allan y Richard, Scott. (1978). Why Government Grows (and Grows) in a Democracy. En: Public Interest, vol. 52, p. 111-118. Meltzer, Allan y Richard, Scott. (1981). A Rational Theory of the Size of Government. En: Journal of Political Economy, vol. 89, n.o 5, p. 914-927. Meltzer, Allan y Richard, Scott. (1983). Tests of a rational theory of the size of government. En: Public Choice, vol. 41, n.o 3, p. 403-418. Ministerio de Hacienda y Administraciones Públicas (varios años): Boletín estadístico del personal al servicio de las Administraciones Públicas . http://www.minhafp.gob.es/es ES/Areas%20Tematicas/funcion%20publica/Paginas/boletin _ rcp.aspx. Ministerio de Hacienda y Administraciones Públicas (varios años). Estadísticas de los declarantes del impuesto sobre la renta . https://www.agenciatributaria.es/AEAT.internet/datosabiertos/catalogo/hacienda/Estadistica _ de _ los _ declarantes _ del _ IRPF. Mueller, Dennis. (2003). Public Choice III. Cambridge: Cambridge University Press, 768 p. Niskanen, William. (1968). The Peculiar Economics of Bureaucracy. En: American Economic Review, vol. 58, n.o 2, p. 293-305. Niskanen, William. (1971). Bureaucracy and Representative Government. Nueva Jersey: Transaction Publishers, 251 p. Neck, Reinhard y Schneider, Friedrich. (1988). The Growth of the Public Sector in Austria: An Exploratory Analysis. En: Contributions to Economic Analysis, vol. 171, p. 231-263. Doi: doi.org/10.1016/B978-0-444-70426-9.50015-9 Pesaran, Hashem. (1997). The Role of Economic Theory in Modelling the Long Run. En: Economic Journal, vol. 107, n.o 440, p. 178 191. Pesaran, Hashem y Shin, Yongcheol. (1999). An Autoregressive Distributed Lag Modelling Approach to Cointegration Analysis. En: Strom, Steiner (Ed.). Econometrics and Economic Theory in the 20th Century: The Ragnar Frisch Centennial Symposium. Cambridge: Cambridge University Press, p. 371 413. Pesaran, Hashem y Smith, Ron. (1995). Estimating long run relationships from dynamic heterogeneous panels. En: Journal of Econometrics, vol. 68, p. 79 113. Doi: doi.org/10.1016/0304-4076(94)01644-F Pollitt, Christopher. (1995). Justification by Works or by Faith? Evaluating the New Public Management. En: Evaluation, vol. 1, no. 2, p. 133-154. Doi: doi.org/10.1177/135638909500100202 Pommerehne, Werner y Schneider, Friedrich. (1978). Fiscal Illusion, Political Institutions and Local Public Spending. En: Kyklos, vol. 31, n.° 3, p. 381-408. Tridimas, George. (1992). Budgetary Deficits and Government Expenditure Growth: Toward a More Accurate Empirical Specification. En: Public Finance Quarterly, vol. 20, no. 3, p. 275-297. Doi: 10.1177/109114219202000301 Valle, Victorio. (1996). La hacienda pública de la democracia española: principales rasgos. En: Papeles de Economía Española, n.° 68, p 2-9. Wagner, Richard. (1976). Revenue structure, fiscal illusion and budgetary choice. En: Public Choice, vol. 25. |
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2019-04-012019-12-05T15:56:57Z2019-12-05T15:56:57Z2019-11-062019-11-061692-2530http://hdl.handle.net/11407/5597https://doi.org/10.22395/seec.v22n51a82248-4078reponame:Repositorio Institucional Universidad de Medellíninstname:Universidad de MedellínTo study the evolution of public spending in Spain during 1964-2016, this article empirically con-trasts different alternative models, with variables from both the supply and demands sides, The usual methodology of unit roots and cointegration in time series is used to contrast models, using as a basis autoregressive distributed delay models for the long term and error correction models for the short term. Of the three models that were taken in account, the one that best explains the behavior of the Spanish public sector is the public finance model to which the explanatory bureau-cracy variable has been added.Este artigo contrasta empiricamente modelos alternativos, com variáveis tanto do lado da oferta quanto do da procura, para estudar a evolução do gasto público na Espanha de 1964 a 2016. Utiliza-se a metodologia habitual de raízes unitárias e cointegração em séries temporais para comparar os modelos, tendo como base modelos de retardo distribuído autorregressivo para o longo prazo e modelos de correção de erros para o curto. Dos três modelos considerados, o que melhor explica o comportamento do setor público espanhol é o modelo de finanças públicas ao qual se agregou a variável explicativa da burocracia.El artículo contrasta empíricamente diferentes modelos alternativos, con variables tanto desde el lado de la oferta como de la demanda, para estudiar la evolución del gasto público en España en el período 1964-2016. Se utiliza la metodología habitual de raíces unitarias y cointegración en series temporales para contrastar los modelos, utilizando como base modelos de retardo distribuido auto-rregresivo para el largo plazo y modelos de corrección de errores para el corto. De los tres modelos considerados, el que mejor explica el comportamiento del sector público español es el modelo de hacienda pública al que se le ha añadido la variable explicativa de la burocracia.application/pdfPDFElectrónicospaUniversidad de MedellínFacultad de Derechohttps://revistas.udem.edu.co/index.php/economico/article/view/2962Semestre EconómicoSemestre Económico Universidad de Medellín Vol. 22 Núm. 51 (2019)Semestre Económico; Vol. 22 Núm. 51 abril-junio 20192251169199p. 169-199Alcaide, Julio. (1988). El gasto público en la democracia española: los hechos. En: Papeles de Economía Española, n.o 37, p. 2-41.Aranson, Peter y Ordeshook, Peter. (1977). Incrementalism, the fiscal illusion and the growth of government in representative democracies. Miami: University of Miami, 80 p.Bergstrom, Theodore y Goodman, Robert. (1973). Private Demands for Public Goods. En: American Economic Review, vol. 63, n.o 3, p. 280-296.Borcherding, Thomas; Bush, Winston y Spann, Robert. (1977). The effects on public spending of the divisibility of public outputs in consumption, bureaucratic power and the size of the tax-sharing group. En: Borcherding, Thomas. (Ed.). Budgets and Bureaucrats: The Sources of Government Growth. Ann Arbor: Umi Research Pr, p. 211-228.Borcherding, Thomas. (1985). The causes of government expenditure growth: A survey of the U.S. evidence. En: Journal of Public Economics, vol. 28, n.o 3, p. 359-382. Doi: doi.org/10.1016/0047-2727(85)90065-9Borcherding, Thomas y Deacon, Robert. (1972). The demand for the services of non-federal governments. En: American Economic Review, vol. 62, n.o 5, p. 891-901.Bush, Winston y Denzau, Arthur. (1977). The voting behavior of bureaucrats and public sector growth. En Borcherding, Thomas (Ed.). Budgets and Bureaucrats: The Sources of Government Growth. Ann Arbor: Umi Research Pr, p. 90-99.Comin, Francisco y Díaz, Daniel (2005). Sector público administrativo y estado del bienestar. En: Tufannel, Xavier y Carrearas Albert. Estadísticas Históricas de España. Fundación BBVA. Madrid, p.873974.Courakis, Anthony; Moura-Roque, Fátima y Tridimas, George. (1993). Public expenditure growth in Greece and Portugal: Wagner´s law and beyond. En: Applied Economics, vol. 25, n.o 1, p. 125-134. Doi: 10.1080/00036849300000121Cullis, John y Jones, Philip. (2009). Public Finance and Public Choice. Analytical Perspectives. Oxford: University Press, 560 p.Gemmell, Norman. (1990). Wagner s Law, Relative Prices and the Size of the Public Sector. En: Manchester School of Economics and Social Studies, vol. 58, n.o 4, p. 361-377. Doi: /abs/10.1111/j.1467-9957.1990.tb00428.xGemmell, Norman. (Ed.). (1993). The Growth of the Public Sector: Theories and International Evidence. Aldershot: Edward Elgar Publishing, 261 p.Gemmell, Norman; Gill, Derek y Nguyen, Loc. (2016). Explaining the Size of the State in New Zealand, 1972-2014. Wellington: Victoria University of Wellington, 36 p.Hood, Christopher. (1991). A Public Management for All Seasons? En: Public Administration, vol. 69, p. 3-19.Jaén-García, Manuel. (2004). Evolución contemporánea del gasto público en España. Almería: Universidad de Almería, 240 p.Jaén-García, Manuel. (2016). Public expenditure and deficit in Spain (1958-2014). En: Semestre Económico, vol. 19, n.o 40, p. 17-52. Doi: doi.org/10.22395/seec.v19n40a1.Jaén-García, Manuel. (2017). A Demand Determinants Model for Public Spending in Spain. En: International Journal of Economics and Financial Issues, vol. 7 n,o 4, p. 372-386.Jordana, Jacint y Ramío, Carles. (2005). Gobierno y Administración. En: Tafunell, Xavier y Carreras Albert. Estadísticas Históricas de España .Madrid: BBVA, p.973-1026.Lowery, David y Berry, William. (1983). The Growth of Government in the United States: An Em-pirical Assessment of Competing Explanations. En: American Journal of Political Science, vol. 27, n.o 4, p. 665-694. Doi: 10.2307/2110888Meltzer, Allan y Richard, Scott. (1978). Why Government Grows (and Grows) in a Democracy. En: Public Interest, vol. 52, p. 111-118.Meltzer, Allan y Richard, Scott. (1981). A Rational Theory of the Size of Government. En: Journal of Political Economy, vol. 89, n.o 5, p. 914-927.Meltzer, Allan y Richard, Scott. (1983). Tests of a rational theory of the size of government. En: Public Choice, vol. 41, n.o 3, p. 403-418.Ministerio de Hacienda y Administraciones Públicas (varios años): Boletín estadístico del personal al servicio de las Administraciones Públicas . http://www.minhafp.gob.es/es ES/Areas%20Tematicas/funcion%20publica/Paginas/boletin _ rcp.aspx.Ministerio de Hacienda y Administraciones Públicas (varios años). Estadísticas de los declarantes del impuesto sobre la renta . https://www.agenciatributaria.es/AEAT.internet/datosabiertos/catalogo/hacienda/Estadistica _ de _ los _ declarantes _ del _ IRPF.Mueller, Dennis. (2003). Public Choice III. Cambridge: Cambridge University Press, 768 p.Niskanen, William. (1968). The Peculiar Economics of Bureaucracy. En: American Economic Review, vol. 58, n.o 2, p. 293-305.Niskanen, William. (1971). Bureaucracy and Representative Government. Nueva Jersey: Transaction Publishers, 251 p.Neck, Reinhard y Schneider, Friedrich. (1988). The Growth of the Public Sector in Austria: An Exploratory Analysis. En: Contributions to Economic Analysis, vol. 171, p. 231-263. Doi: doi.org/10.1016/B978-0-444-70426-9.50015-9Pesaran, Hashem. (1997). The Role of Economic Theory in Modelling the Long Run. En: Economic Journal, vol. 107, n.o 440, p. 178 191.Pesaran, Hashem y Shin, Yongcheol. (1999). An Autoregressive Distributed Lag Modelling Approach to Cointegration Analysis. En: Strom, Steiner (Ed.). Econometrics and Economic Theory in the 20th Century: The Ragnar Frisch Centennial Symposium. Cambridge: Cambridge University Press, p. 371 413.Pesaran, Hashem y Smith, Ron. (1995). Estimating long run relationships from dynamic heterogeneous panels. En: Journal of Econometrics, vol. 68, p. 79 113. Doi: doi.org/10.1016/0304-4076(94)01644-FPollitt, Christopher. (1995). Justification by Works or by Faith? Evaluating the New Public Management. En: Evaluation, vol. 1, no. 2, p. 133-154. Doi: doi.org/10.1177/135638909500100202Pommerehne, Werner y Schneider, Friedrich. (1978). Fiscal Illusion, Political Institutions and Local Public Spending. En: Kyklos, vol. 31, n.° 3, p. 381-408.Tridimas, George. (1992). Budgetary Deficits and Government Expenditure Growth: Toward a More Accurate Empirical Specification. En: Public Finance Quarterly, vol. 20, no. 3, p. 275-297. Doi: 10.1177/109114219202000301Valle, Victorio. (1996). La hacienda pública de la democracia española: principales rasgos. En: Papeles de Economía Española, n.° 68, p 2-9.Wagner, Richard. (1976). Revenue structure, fiscal illusion and budgetary choice. En: Public Choice, vol. 25.http://creativecommons.org/licenses/by-nc/4.0http://purl.org/coar/access_right/c_abf2Semestre Económico; Vol. 22 Núm. 51 (2019): Abril-Junio; 169-199Public spendingPublic finance modelPublic choice modelPublic administration modelUnit rootsCointegrationGasto públicoModelo de finanças públicasModelo de eleição públicaModelo de administração públicaRaízes unitáriasCointegraçãoGasto públicoModelo de hacienda públicaModelo de elección públicaModelo de administración públicaRaíces unitariasCointegraciónAlternative models to explain the evolution of Spanish public spendingModelos alternativos para explicar a evolução do gasto público espanholModelos alternativos para explicar la evolución del gasto público españolComunidad Universidad de MedellínLat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degreesLong: 075 36 00 W degrees minutes Long: -75.6000 decimal degreesMedellínJaén García, Manuelinfo:eu-repo/semantics/articlehttp://purl.org/coar/version/c_970fb48d4fbd8a85http://purl.org/coar/resource_type/c_2df8fbb1Jaén García, ManuelLICENSElicense.txttext/plain1165http://repository.udem.edu.co/bitstream/11407/5597/1/license.txt12a2cf2979d6555fb1b620ab38ba657eMD51ORIGINALSemestre_economico_389.pdfapplication/pdf438470http://repository.udem.edu.co/bitstream/11407/5597/2/Semestre_economico_389.pdfa483cd6e2625668517cd93a3a9d88ac5MD52THUMBNAILSemestre_economico_389.pdf.jpgSemestre_economico_389.pdf.jpgIM Thumbnailimage/jpeg6733http://repository.udem.edu.co/bitstream/11407/5597/3/Semestre_economico_389.pdf.jpg525f0b7cc5800e5ba5c5ae8ecb7347cdMD5311407/5597oai:repository.udem.edu.co:11407/55972020-05-27 18:15:44.687Repositorio Institucional Universidad de Medellinrepositorio@udem.edu.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 |