Gasto público y déficit fiscal en España (1958-2014)

La formulación de dos ecuaciones diferentes confirma la influencia del déficit en el crecimiento del gasto público en el período 1958-2014. El trabajo aporta dos novedades al análisis de los determinantes del gasto público en España: por una parte, se extiende considerablemente el período objeto de...

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2016
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Universidad de Medellín
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eng
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http://revistas.udem.edu.co/index.php/economico/article/view/1950
http://hdl.handle.net/11407/3085
http://dx.doi.org/10.22395/seec.v19n40a1
Palabra clave:
Public expenditure
gross domestic product
unit root
cointegration
break points.
Gasto público
producto interior bruto
raíz unitaria
cointegración
puntos de ruptura
Gasto público
produto interno bruto
raiz unitária
co-integração
pontos de ruptura.
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network_acronym_str REPOUDEM2
network_name_str Repositorio UDEM
repository_id_str
dc.title.spa.fl_str_mv Gasto público y déficit fiscal en España (1958-2014)
dc.title.alternativepor.por.fl_str_mv Despesa pública e do défice em Espanha (1958-2014)
dc.title.alternativeen.eng.fl_str_mv Public expenditure and deficit in Spain (1958-2014)
title Gasto público y déficit fiscal en España (1958-2014)
spellingShingle Gasto público y déficit fiscal en España (1958-2014)
Public expenditure
gross domestic product
unit root
cointegration
break points.
Gasto público
producto interior bruto
raíz unitaria
cointegración
puntos de ruptura
Gasto público
produto interno bruto
raiz unitária
co-integração
pontos de ruptura.
title_short Gasto público y déficit fiscal en España (1958-2014)
title_full Gasto público y déficit fiscal en España (1958-2014)
title_fullStr Gasto público y déficit fiscal en España (1958-2014)
title_full_unstemmed Gasto público y déficit fiscal en España (1958-2014)
title_sort Gasto público y déficit fiscal en España (1958-2014)
dc.subject.spa.fl_str_mv Public expenditure
gross domestic product
unit root
cointegration
break points.
Gasto público
producto interior bruto
raíz unitaria
cointegración
puntos de ruptura
Gasto público
produto interno bruto
raiz unitária
co-integração
pontos de ruptura.
topic Public expenditure
gross domestic product
unit root
cointegration
break points.
Gasto público
producto interior bruto
raíz unitaria
cointegración
puntos de ruptura
Gasto público
produto interno bruto
raiz unitária
co-integração
pontos de ruptura.
description La formulación de dos ecuaciones diferentes confirma la influencia del déficit en el crecimiento del gasto público en el período 1958-2014. El trabajo aporta dos novedades al análisis de los determinantes del gasto público en España: por una parte, se extiende considerablemente el período objeto de estudio; por otra, se usa el análisis de raíces unitarias y cointegración con puntos de ruptura, que no ha sido utilizado anteriormente en este caso.
publishDate 2016
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dc.date.accessioned.none.fl_str_mv 2017-03-14T12:52:02Z
dc.date.available.none.fl_str_mv 2017-03-14T12:52:02Z
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10.22395/seec.v19n40a1
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dc.identifier.doi.none.fl_str_mv http://dx.doi.org/10.22395/seec.v19n40a1
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dc.identifier.instname.spa.fl_str_mv instname:Universidad de Medellín
url http://revistas.udem.edu.co/index.php/economico/article/view/1950
http://hdl.handle.net/11407/3085
http://dx.doi.org/10.22395/seec.v19n40a1
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reponame:Repositorio Institucional Universidad de Medellín
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dc.language.iso.none.fl_str_mv eng
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dc.relation.spa.fl_str_mv http://revistas.udem.edu.co/index.php/economico/article/view/1950/1768
dc.relation.ispartofseries.spa.fl_str_mv Semestre Económico; Vol. 19, núm. 40 (2016)
dc.relation.haspart.spa.fl_str_mv Semestre Económico; Vol. 19, núm. 40 - julio/septiembre 2016
dc.relation.citationvolume.spa.fl_str_mv 19
dc.relation.citationissue.spa.fl_str_mv 40
dc.relation.citationstartpage.spa.fl_str_mv 17
dc.relation.citationendpage.spa.fl_str_mv 52
dc.relation.ispartofes.spa.fl_str_mv Semestre Económico
dc.relation.references.spa.fl_str_mv Asworth, J. (1995). The Empirical Relationship between Budgetary Deficits and Government Expenditure Growth: An Examination using Co-integration. In: Public Finance, Vol. 50, No. 1, pp. 1-18.
Beck, M. (1976). The Expanding Public Sector: Some Contrary Evidence. In: National Tax Journal, Vol. 29, No. 1, pp. 15-2.
Beck, M. (1981). Government Spending. Trend and Issues. New York: Praeger, First edition, 135p.
Bergstrom, T.C. and Goodman, R.P. (1973). Private Demands for Public Goods. In: American Economic Review Vol. 63, No. 3, pp. 280-296.
Borcherding, T.E. (1985). The Causes of Government Expenditure Growth: A Survey of the U.S. Evidence. In: Journal of Public Economics Vol. 28, No. 3, pp. 359-382.
Borcherding, T.E. and Deacon, R.T. (1972). The Demand for Services of Non-Federal Governments. In: American Economic Review, Vol. 62, No. 5, p. 891-901.
Buchanan J. and Wagner, R. (1977): Democracy in Deficit: The Political Legacy of Lord Keynes. Academic Press. New York, 185p.
Courakis, A.S.; Roque-Moura, F. and Tridimas, G. (1993). Public Expenditure Growth. In Greece and Portugal: Wagner´s Law and Beyond. In: Applied Economics, Vol. 25, No. 1, pp. 125-134.
Craigwell, R. (1991). Government deficits and spending in Barbados: An empirical test of the Buchanan-Wagner hypothesis. In: Public Finance, Vol. 46, No. 3, pp. 373-381.
Christopoulos, D. and Tsionas, E.G. (2003). Testing the Buchanan-Wagner hypothesis: European evidence from panel unit root and cointegration tests. In: Public Choice Vol. 115, No. 3, pp. 439-453.
Elliot, G.; Rothenberg, T. and Stock, J. (1996). Efficient Tests for an Autoregressive unit root. In: Econometrica, Vol. 64, No. 4, pp. 813-836.
Fuentes, E. and Barea, J. (1996). El Déficit Público en la Democracia Española. In: Papeles de Economía Española No. 68, pp. 86-191.
Hernández Garcia, G. (1996). La deuda pública en la democracia. In: Papeles de Economía Española No. 68, pp. 214-227.
Hondroyiannis, G. and Papapetrou, E. (2001). An investigation of the public deficits and government spending relationship: evidence for Greece. In: Public Choice, Vol. 107, No. 1-2, pp. 169-182.
Jaén, M. (1999). Gasto público, déficit y cointegración. Un análisis de la hipótesis Buchanan-Wagner en el caso español. In: Hacienda Pública Española Vol. 150, No. 3, p.161-172.
Jaén, M. (2011). Empirical analysis of Wagner´s law for the Spain´s regions. In: International Journal of Academic Research in Accounting, Finance and Management Sciences. Vol. 1, No. 1, p. 1-17.
Jaén, M. and Molina, A. (1997). Un estudio empírico de la ley de Wagner aplicado al caso español. In: Hacienda Pública Española, No. 141-142, pp. 277-285.
Jaén, M. and Molína, A. (1999). Evidencia Empírica Adicional sobre la Ley de Wagner: España 1901-1992. In: Hacienda Pública Española, No. 148, pp. 169-174.
Johansen, S. (1991). Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoagressive Models. In: Econometrica, Vol. 52, No. 6, pp. 1551-80.
Johansen, S. and Juselius, K. (1990). Maximun Likelihood Estimation and Inference on Cointegration-With Applications to the Demand for Money. In: Oxford Bulletin of Economics and Statistics, Vol. 52, No. 2, pp. 169-210.
Johansen, S. and Juselius, K. (1992). Testing Structural Hypotheses in a Multivariate Cointegration Analysis of the PPP and the UIP for UK. In: Journal of Econometrics, Vol. 53, No. 1-3, pp. 211-244.
Johansen, S.; Mosconi, R. and Nielsen, B (2000). Cointegration analysis in the presence of structural breaks in the deterministic trend. In: Econometric Journal, Vol. 3, No. 2, pp. 216-249.
Khan, A. H. (1988). Public Spending and deficits: Evidence from a developing economy. In: Public Finance, Vol. 43, No. 3, pp. 396-402.
Kuckuck, J. (2014). Testing Wagner´s Law at different stages of economic development. In: Finanzarchiv/Public Finance Analysis, Vol. 70, No. 1, pp. 128-168.
Kwiatkowski, D.; Phillips, P.; Schmidt,P. and Shin,Y. (1992). Testing the Null Hypothesis of Stationary against the Alternative of a unit root. In: Journal of Econometrics, Vol. 54, No. 1-3, pp. 159-178.
Legrenzi, G.; Milas, C (2002). The Role of Omitted Variables in Identifying a Long-run Equilibrium Relationship for the Italian Government Growth. In: International Tax and Public Finance, Vol. 9, No. 4, pp. 435-449.
Lilliefors, H (1967). On the Kolmogorv-Smirnov test for normality with mean and variance unknown. In: Journal of the American Statistical Association Vol. 62 pp. 399-402.
Lumsdaine, R. and D. Papell (1997). Multiple trend breaks and the unit root hypothesis. In: Review of Economics and Statistics, Vol. 79, No. 2, pp. 212-218.
MacKinnon, J, G. (1991). Critical Values for Cointegration Tests, Chapter 13. In: R. F. Engle and C. W. J. Granger (eds.), Long-run Economic Relationships: Readings in Cointegration, Oxford: Oxford University Press, 19p.
Ng, S. and Perron, P. (2001). Lag Length Selection and the Construction of unit root Tests with Good Size and Power. In: Econometrica, Vol. 69 No. 6, pp. 1519-1554.
Niskanen, W. (1978). Deficits, Government Spending and Inflation. What is the Evidence? In: Journal of Monetary Economics, Vol. 4, No. 3, pp. 591-602.
Perron, P (1989). The Great Crash, the Oil Price Shock and the Unit Root Hypothesis. In: Econometrica, Vol. 57, No. 1, pp. 215-36.
Perron, P. and Vogelsand, T. J. (1993). The Great Crash, the Oil Price Shock and the Unit Root Hypothesis: Erratum. In: Econometrica. Vol. 61, No. 1, pp. 248-249
Priesmeier, C. and Koester, G. (2012). Does Wagner´s law ruin the sustainability of German public finances? Discussion Paper, No. 8, Deutsche Bundesbank, 48p.
Provopoulos, G.A. (1982). Public spending and deficits: The Greek experience. In: Public Finance, Vol. 37, No. 3, pp. 422-446.
Raymond, J.L. and González-Páramo, J.M. (1988). Déficit, Impuestos y Crecimiento del Gasto Público. In: Papeles de Economía Española No. 37. pp. 125-144.
Schmidt, P. and Phillips, P.C.B. (1992). LM Test for a Unit Root in the Presence of Deterministic Trends. In: Oxford Bulletin of Economics and Statistics, Vol. 54, No. 3, pp. 257-287.
Serrano Sanz, J.M. (1999). Sector Público. Cap. 13. In: J.L. Garcia (dir): Lecciones de Economía Española. Madrid, Ed. Civitas, 4ª ed. Tridimas, G. (1992). Budgetary Deficits and Government Expenditure Growth: Toward a More Accurate Empirical Especification. In: Public Finance Quarterly, Vol. 20, No. 3, p. 275-297.
Yay, T. and Tastan, H (2009). Growth of Public Expenditures in Turkey during the 1950-2004 Period: an Econometric Analysis. In: Romanian Journal of Economic Forecasting, No. 4, pp. 101-118
Zivot, E. and Andrews, K. (1992). Further Evidence On The Great Crash, The Oil Price Shock, and The Unit Root Hypothesis. In: Journal of Business and Economic Statistics, Vol. 10, No. 10, pp. 251–70.
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spelling 2017-03-14T12:52:02Z2017-03-14T12:52:02Z2016-09-30http://revistas.udem.edu.co/index.php/economico/article/view/195010.22395/seec.v19n40a10120-6346http://hdl.handle.net/11407/3085http://dx.doi.org/10.22395/seec.v19n40a12248-4345reponame:Repositorio Institucional Universidad de Medellíninstname:Universidad de MedellínLa formulación de dos ecuaciones diferentes confirma la influencia del déficit en el crecimiento del gasto público en el período 1958-2014. El trabajo aporta dos novedades al análisis de los determinantes del gasto público en España: por una parte, se extiende considerablemente el período objeto de estudio; por otra, se usa el análisis de raíces unitarias y cointegración con puntos de ruptura, que no ha sido utilizado anteriormente en este caso.El propósito de este trabajo es analizar un modelo reducido de determinantes del crecimiento del gasto público desde el lado de la demanda. El modelo está basado en la hipótesis de Buchanan y Wagner pero se han añadido diversas variables que se consideran determinantes de demanda del gasto público. The objective of this study is to analyze a reduced model of the determinants of public spending growth from a demand side perspective. The model is based on the Buchanan and Wagner hypothesis but incorporates several other variables considered as determinants of public spending growth as well. The formulation of two different equations confirmed the influence of deficit on public spending growth during the period 1958-2014. This work provides two contributions to the analysis of public spending determinants in Spain. Firstly, the study period is considerably longer than that of others, and, secondly, unit root and cointegration analysis are used with breakpoints, which, to our knowledge, have not been previously utilized.O propósito deste trabalho é analisar um modelo reduzido de determinantes do crescimento do gasto público desde o lado da demanda. O modelo está baseado na hipótese Buchanan e Wagner mas se há adicionado diversas variáveis que se consideram determinantes de demanda do gasto público. A formulação de duas equações diferentes confirma a influência do déficit no crescimento do gasto público no período 1958-2014. O trabalho aporta duas novidades à análise dos determinantes do gasto público na Espanha. Por uma parte se estende consideravelmente o período objeto de estudo. Por outra se usa a análise de raízes unitárias e co-integração com pontos de ruptura que não há sido utilizado anteriormente neste caso.p.17-52Electrónicoapplication/pdfPDFengUniversidad de MedellínUniversidad de MedellínFacultad de Ciencias Económicas y Administrativashttp://revistas.udem.edu.co/index.php/economico/article/view/1950/1768Semestre Económico; Vol. 19, núm. 40 (2016)Semestre Económico; Vol. 19, núm. 40 - julio/septiembre 201619401752Semestre EconómicoAsworth, J. (1995). The Empirical Relationship between Budgetary Deficits and Government Expenditure Growth: An Examination using Co-integration. In: Public Finance, Vol. 50, No. 1, pp. 1-18.Beck, M. (1976). The Expanding Public Sector: Some Contrary Evidence. In: National Tax Journal, Vol. 29, No. 1, pp. 15-2.Beck, M. (1981). Government Spending. Trend and Issues. New York: Praeger, First edition, 135p.Bergstrom, T.C. and Goodman, R.P. (1973). Private Demands for Public Goods. In: American Economic Review Vol. 63, No. 3, pp. 280-296.Borcherding, T.E. (1985). The Causes of Government Expenditure Growth: A Survey of the U.S. Evidence. In: Journal of Public Economics Vol. 28, No. 3, pp. 359-382.Borcherding, T.E. and Deacon, R.T. (1972). The Demand for Services of Non-Federal Governments. In: American Economic Review, Vol. 62, No. 5, p. 891-901.Buchanan J. and Wagner, R. (1977): Democracy in Deficit: The Political Legacy of Lord Keynes. Academic Press. New York, 185p.Courakis, A.S.; Roque-Moura, F. and Tridimas, G. (1993). Public Expenditure Growth. In Greece and Portugal: Wagner´s Law and Beyond. In: Applied Economics, Vol. 25, No. 1, pp. 125-134.Craigwell, R. (1991). Government deficits and spending in Barbados: An empirical test of the Buchanan-Wagner hypothesis. In: Public Finance, Vol. 46, No. 3, pp. 373-381.Christopoulos, D. and Tsionas, E.G. (2003). Testing the Buchanan-Wagner hypothesis: European evidence from panel unit root and cointegration tests. In: Public Choice Vol. 115, No. 3, pp. 439-453.Elliot, G.; Rothenberg, T. and Stock, J. (1996). Efficient Tests for an Autoregressive unit root. In: Econometrica, Vol. 64, No. 4, pp. 813-836.Fuentes, E. and Barea, J. (1996). El Déficit Público en la Democracia Española. In: Papeles de Economía Española No. 68, pp. 86-191.Hernández Garcia, G. (1996). La deuda pública en la democracia. In: Papeles de Economía Española No. 68, pp. 214-227.Hondroyiannis, G. and Papapetrou, E. (2001). An investigation of the public deficits and government spending relationship: evidence for Greece. In: Public Choice, Vol. 107, No. 1-2, pp. 169-182.Jaén, M. (1999). Gasto público, déficit y cointegración. Un análisis de la hipótesis Buchanan-Wagner en el caso español. In: Hacienda Pública Española Vol. 150, No. 3, p.161-172.Jaén, M. (2011). Empirical analysis of Wagner´s law for the Spain´s regions. In: International Journal of Academic Research in Accounting, Finance and Management Sciences. Vol. 1, No. 1, p. 1-17.Jaén, M. and Molina, A. (1997). Un estudio empírico de la ley de Wagner aplicado al caso español. In: Hacienda Pública Española, No. 141-142, pp. 277-285.Jaén, M. and Molína, A. (1999). Evidencia Empírica Adicional sobre la Ley de Wagner: España 1901-1992. In: Hacienda Pública Española, No. 148, pp. 169-174.Johansen, S. (1991). Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoagressive Models. In: Econometrica, Vol. 52, No. 6, pp. 1551-80.Johansen, S. and Juselius, K. (1990). Maximun Likelihood Estimation and Inference on Cointegration-With Applications to the Demand for Money. In: Oxford Bulletin of Economics and Statistics, Vol. 52, No. 2, pp. 169-210.Johansen, S. and Juselius, K. (1992). Testing Structural Hypotheses in a Multivariate Cointegration Analysis of the PPP and the UIP for UK. In: Journal of Econometrics, Vol. 53, No. 1-3, pp. 211-244.Johansen, S.; Mosconi, R. and Nielsen, B (2000). Cointegration analysis in the presence of structural breaks in the deterministic trend. In: Econometric Journal, Vol. 3, No. 2, pp. 216-249.Khan, A. H. (1988). Public Spending and deficits: Evidence from a developing economy. In: Public Finance, Vol. 43, No. 3, pp. 396-402.Kuckuck, J. (2014). Testing Wagner´s Law at different stages of economic development. In: Finanzarchiv/Public Finance Analysis, Vol. 70, No. 1, pp. 128-168.Kwiatkowski, D.; Phillips, P.; Schmidt,P. and Shin,Y. (1992). Testing the Null Hypothesis of Stationary against the Alternative of a unit root. In: Journal of Econometrics, Vol. 54, No. 1-3, pp. 159-178.Legrenzi, G.; Milas, C (2002). The Role of Omitted Variables in Identifying a Long-run Equilibrium Relationship for the Italian Government Growth. In: International Tax and Public Finance, Vol. 9, No. 4, pp. 435-449.Lilliefors, H (1967). On the Kolmogorv-Smirnov test for normality with mean and variance unknown. In: Journal of the American Statistical Association Vol. 62 pp. 399-402.Lumsdaine, R. and D. Papell (1997). Multiple trend breaks and the unit root hypothesis. In: Review of Economics and Statistics, Vol. 79, No. 2, pp. 212-218.MacKinnon, J, G. (1991). Critical Values for Cointegration Tests, Chapter 13. In: R. F. Engle and C. W. J. Granger (eds.), Long-run Economic Relationships: Readings in Cointegration, Oxford: Oxford University Press, 19p.Ng, S. and Perron, P. (2001). Lag Length Selection and the Construction of unit root Tests with Good Size and Power. In: Econometrica, Vol. 69 No. 6, pp. 1519-1554.Niskanen, W. (1978). Deficits, Government Spending and Inflation. What is the Evidence? In: Journal of Monetary Economics, Vol. 4, No. 3, pp. 591-602.Perron, P (1989). The Great Crash, the Oil Price Shock and the Unit Root Hypothesis. In: Econometrica, Vol. 57, No. 1, pp. 215-36.Perron, P. and Vogelsand, T. J. (1993). The Great Crash, the Oil Price Shock and the Unit Root Hypothesis: Erratum. In: Econometrica. Vol. 61, No. 1, pp. 248-249Priesmeier, C. and Koester, G. (2012). Does Wagner´s law ruin the sustainability of German public finances? Discussion Paper, No. 8, Deutsche Bundesbank, 48p.Provopoulos, G.A. (1982). Public spending and deficits: The Greek experience. In: Public Finance, Vol. 37, No. 3, pp. 422-446.Raymond, J.L. and González-Páramo, J.M. (1988). Déficit, Impuestos y Crecimiento del Gasto Público. In: Papeles de Economía Española No. 37. pp. 125-144.Schmidt, P. and Phillips, P.C.B. (1992). LM Test for a Unit Root in the Presence of Deterministic Trends. In: Oxford Bulletin of Economics and Statistics, Vol. 54, No. 3, pp. 257-287.Serrano Sanz, J.M. (1999). Sector Público. Cap. 13. In: J.L. Garcia (dir): Lecciones de Economía Española. Madrid, Ed. Civitas, 4ª ed. Tridimas, G. (1992). Budgetary Deficits and Government Expenditure Growth: Toward a More Accurate Empirical Especification. In: Public Finance Quarterly, Vol. 20, No. 3, p. 275-297.Yay, T. and Tastan, H (2009). Growth of Public Expenditures in Turkey during the 1950-2004 Period: an Econometric Analysis. In: Romanian Journal of Economic Forecasting, No. 4, pp. 101-118Zivot, E. and Andrews, K. (1992). Further Evidence On The Great Crash, The Oil Price Shock, and The Unit Root Hypothesis. In: Journal of Business and Economic Statistics, Vol. 10, No. 10, pp. 251–70.http://creativecommons.org/licenses/by-nc-sa/4.0/http://purl.org/coar/access_right/c_abf2Semestre Económico Universidad de Medellín; Vol. 19, núm. 40 (2016); 17-522248-43450120-6346Public expendituregross domestic productunit rootcointegrationbreak points.Gasto públicoproducto interior brutoraíz unitariacointegraciónpuntos de rupturaGasto públicoproduto interno brutoraiz unitáriaco-integraçãopontos de ruptura.Gasto público y déficit fiscal en España (1958-2014)Despesa pública e do défice em Espanha (1958-2014)Public expenditure and deficit in Spain (1958-2014)Comunidad Universidad de MedellínLat: 06 15 00 N  degrees minutes  Lat: 6.2500  decimal degreesLong: 075 36 00 W  degrees minutes  Long: -75.6000  decimal degreesMedellíninfo:eu-repo/semantics/articlehttp://purl.org/coar/version/c_970fb48d4fbd8a85http://purl.org/coar/resource_type/c_2df8fbb1Jaén-García, Manuel; University of AlmeriaTHUMBNAILSemestre_Economico_296.pdf.jpgSemestre_Economico_296.pdf.jpgIM Thumbnailimage/jpeg6643http://repository.udem.edu.co/bitstream/11407/3085/3/Semestre_Economico_296.pdf.jpgda7181ef1c0f6c371915926ea31b820dMD53ORIGINALSemestre_Economico_296.pdfSemestre_Economico_296.pdfapplication/pdf1072947http://repository.udem.edu.co/bitstream/11407/3085/2/Semestre_Economico_296.pdf0e815880dc03bc839ad2fe97dd15a46cMD52Articulo.htmlArticulo.htmltext/html493http://repository.udem.edu.co/bitstream/11407/3085/1/Articulo.html22bff5175d91461e950887979a0e3a51MD5111407/3085oai:repository.udem.edu.co:11407/30852020-05-27 15:58:21.386Repositorio Institucional Universidad de Medellinrepositorio@udem.edu.co