How large is the government spending multiplier? (Record no. 24003)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 02410cam a22003494a 4500 |
| 001 - CONTROL NUMBER | |
| control field | 5500 |
| 003 - CONTROL NUMBER IDENTIFIER | |
| control field | The World Bank |
| 006 - FIXED-LENGTH DATA ELEMENTS--ADDITIONAL MATERIAL CHARACTERISTICS--GENERAL INFORMATION | |
| fixed length control field | m d |
| 007 - PHYSICAL DESCRIPTION FIXED FIELD--GENERAL INFORMATION | |
| fixed length control field | cr cn||||||||| |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 020129s2010 dcu i001 0 eng |
| 024 8# - OTHER STANDARD IDENTIFIER | |
| Standard number or code | 10.1596/1813-9450-5500 |
| 035 ## - SYSTEM CONTROL NUMBER | |
| System control number | (The World Bank)5500 |
| 100 1# - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Kraay, Aart |
| 245 10 - TITLE STATEMENT | |
| Title | How large is the government spending multiplier? |
| Medium | [electronic resource] : |
| Remainder of title | Evidence from World Bank lending / |
| Statement of responsibility, etc | Aart Kraay |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication, distribution, etc | Washington, D.C., |
| Name of publisher, distributor, etc | The World Bank, |
| Date of publication, distribution, etc | 2010 |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 1 online resource (46 p.) |
| 520 3# - SUMMARY, ETC. | |
| Summary, etc | This paper proposes a novel method of isolating fluctuations in public spending that are likely to be uncorrelated with contemporaneous macroeconomic shocks and can be used to estimate government spending multipliers. The approach relies on two features unique to many low-income countries: (1) borrowing from the World Bank finances a substantial fraction of public spending, and (2) actual spending on World Bank-financed projects is typically spread out over several years following the original approval of the project. These two features imply that fluctuations in spending on World Bank projects in a given year are in large part determined by fluctuations in project approval decisions made in previous years, and so are unlikely to be correlated with shocks to output in the current year. World Bank project-level disbursement data are used to isolate the component of public spending associated with project approvals from previous years, which in turn can be used to estimate government spending multipliers, in a sample of 29 aid-dependent low-income countries. The estimated multipliers are small, reasonably precisely estimated, and rarely significantly different from zero. |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Banks & Banking Reform |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Capital investment |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Debt Markets |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Domestic investment |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Economic change |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Economic growth |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Economic Stabilization |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Public Sector Development |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Public Sector Economics |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Urban Economics |
| 700 1# - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Kraay, Aart |
| 776 18 - ADDITIONAL PHYSICAL FORM ENTRY | |
| Main entry heading | Print version: |
| Display text | Kraay, Aart. |
| Title | How large is the government spending multiplier? |
| Place, publisher, and date of publication | Washington, D.C., The World Bank, 2010 |
| 830 #0 - SERIES ADDED ENTRY--UNIFORM TITLE | |
| Uniform title | Policy research working papers. |
| 830 #0 - SERIES ADDED ENTRY--UNIFORM TITLE | |
| Uniform title | World Bank e-Library. |
| 856 40 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="http://elibrary.worldbank.org/doi/book/10.1596/1813-9450-5500">http://elibrary.worldbank.org/doi/book/10.1596/1813-9450-5500</a> |
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