VOLATILITY OF PUBLIC EXPENDITURES AND LONG RUN GROWTH (Niestabilnosc wydatków publicznych a dlugookresowy wzrost gospodarczy)
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The impact of public expenditures' volatility on the long run growth rate of GDP is a topic not often discussed in the literature. Nevertheless, the results of exiting works uniformly indicate that expenditures' volatility is detrimental for long run growth. The main goal of this work is to reassess this empirical link. The main novelty of this paper is that besides using cross section data, it also employs panel data to show that indeed this relationship is statistically significant and negative.
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