Energy Subsidies and Public Social Spending is popular PDF and ePub book, written by Mr.Christian Ebeke in 2015-05-06, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Energy Subsidies and Public Social Spending can be Read Online from any device for your convenience.
Energy Subsidies and Public Social Spending Book PDF Summary
This paper shows that high energy subsidies and low public social spending can emerge as an equilibrium outcome of a political game between the elite and the middle-class when the provision of public goods is subject to bottlenecks, reflecting weak domestic institutions. We test this and other predictions of our model using a large cross-section of emerging markets and low-income countries. The main empirical challenge is that subsidies and social spending could be jointly determined (e.g., at the time of the budget), leading to a simultaneity bias in OLS estimates. To address this concern, we adopt an identification strategy whereby subsidies in a given country are instrumented by the level of subsidies in neighboring countries. Our Instrumental Variable (IV) estimations suggest that public expenditures in education and health were on average lower by 0.6 percentage point of GDP in countries where energy subsidies were 1 percentage point of GDP higher. Moreover, we find that the crowding-out was stronger in the presence of weak domestic institutions, narrow fiscal space, and among the net oil importers.
Detail Book of Energy Subsidies and Public Social Spending PDF
- Author : Mr.Christian Ebeke
- Release : 06 May 2015
- Publisher : International Monetary Fund
- ISBN : 9781475516364
- Genre : Business & Economics
- Total Page : 30 pages
- Language : English
- PDF File Size : 9,6 Mb
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