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| Author: | Woo, J. |
| Title: | Economic, political, and institutional determinants of public deficits |
| Journal: | Journal of Public Economics
2003 : MAR, VOL. 87:3-4, p. 387-426 |
| Index terms: | ECONOMICS POLITICS BUDGET SENSITIVITY ANALYSIS REGRESSION ANALYSIS |
| Language: | eng |
| Abstract: | The authors examine a large set of economic, sociopolitical, and institutional variables in a panel of 57 developed and developing countries over the period of 1970-1990 to derive robust conclusions about which variables are important in explaining cross-country differences in public sector deficits. Financial depth, income inequality, assassinations, cabinet size, and centralization of authority in budgetary decisions are found to be significant and robust determinants of public deficits. The authors also propose a working hypothesis and provide supporting econometric evidence: social polarization is important in explaining differences in fiscal outcomes across countries. |
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