Institutional and Non-Institutional Determinants of Volatile Non-Systematic Discretionary Spending: A Panel Data Analysis
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Volatility in discretionary public spending has diverse implications for overall economic performance. This study investigates institutional and non-institutional factors of non-systematic discretionary public spending. The study considers a panel of 55 economies for a period of 1990-2019 and applies GMM estimation technique. The findings suggest that in aggregated sample, institutional determinants significantly reduce volatility in non-systematic discretionary public spending; nevertheless, non-institutional determinants promote such spending volatility. Additionally, disaggregated analysis suggests an inverse situation in developing economies.
2019 ◽
Vol 7
(2)
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pp. 169-182
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2018 ◽
Vol VI
(Issue 3)
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pp. 98-114
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2019 ◽
Vol 2
(1)
◽
pp. 1