Incidence of Public Spending on Economic Growth in South American Countries, 1995-2018
The objective of this paper is to analyze the relationship between public spending directed to the education, health and research and development sectors, and the economic growth of South American countries, during the period 1995-2018. Given the structure of the data, a panel data model was estimat...
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| Format: | Online |
| Language: | spa |
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Universidad Pedagógica y Tecnológica de Colombia
2023
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| Online Access: | https://revistas.uptc.edu.co/index.php/cenes/article/view/14618 |
| _version_ | 1801705969461231616 |
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| author | Gomez Segura, Camilo Fabiam Cuellar Adames, Andres David Martínez Alvarado, Laura Camila |
| author_facet | Gomez Segura, Camilo Fabiam Cuellar Adames, Andres David Martínez Alvarado, Laura Camila |
| author_sort | Gomez Segura, Camilo Fabiam |
| collection | OJS |
| description | The objective of this paper is to analyze the relationship between public spending directed to the education, health and research and development sectors, and the economic growth of South American countries, during the period 1995-2018. Given the structure of the data, a panel data model was estimated in its specifications of first differences, fixed effects, and random effects. When controlling for heteroscedasticity and serial autocorrelation, the result is that education spending is the only one that is positively influencing economic growth, while there is insufficient empirical evidence for spending in other sectors to affirm that it had an impact on the development of the South American economies. |
| format | Online |
| id | oai:oai.revistas.uptc.edu.co:article-14618 |
| institution | Revista Apuntes del Cenes |
| language | spa |
| publishDate | 2023 |
| publisher | Universidad Pedagógica y Tecnológica de Colombia |
| record_format | ojs |
| spelling | oai:oai.revistas.uptc.edu.co:article-146182024-03-20T21:44:22Z Incidence of Public Spending on Economic Growth in South American Countries, 1995-2018 Incidencia del gasto público en el crecimiento económico de los países suramericanos, 1995-2018 Gomez Segura, Camilo Fabiam Cuellar Adames, Andres David Martínez Alvarado, Laura Camila public spending economic growth education health research and development panel data model. heterocedasticity gasto público crecimiento económico panel de datos heterocedasticidad autocorrelación serial educación salud investigación y desarrollo The objective of this paper is to analyze the relationship between public spending directed to the education, health and research and development sectors, and the economic growth of South American countries, during the period 1995-2018. Given the structure of the data, a panel data model was estimated in its specifications of first differences, fixed effects, and random effects. When controlling for heteroscedasticity and serial autocorrelation, the result is that education spending is the only one that is positively influencing economic growth, while there is insufficient empirical evidence for spending in other sectors to affirm that it had an impact on the development of the South American economies. El objetivo de este artículo es analizar la relación que existe entre el gasto público dirigido al sector de la educación, la salud y al área de investigación y desarrollo, y el crecimiento económico de los países suramericanos, durante el periodo 1995-2018. Dada la estructura de los datos, se estimó un modelo de datos de panel en sus especificaciones de primeras diferencias, efectos fijos y efectos aleatorios. Al controlar por heterocedasticidad y autocorrelación serial se obtiene como resultado que el gasto en educación es el único que está influyendo de manera positiva en el crecimiento económico, mientras que del gasto de los otros sectores no existe suficiente evidencia empírica para afirmar que tuvo un impacto en el desarrollo de las economías suramericanas. Universidad Pedagógica y Tecnológica de Colombia 2023-03-23 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer reviewed Article application/pdf text/xml https://revistas.uptc.edu.co/index.php/cenes/article/view/14618 10.19053/01203053.v42.n75.2023.14618 Apuntes del Cenes; Vol. 42 No. 75 (2023); 111-128 Apuntes del Cenes; Vol. 42 Núm. 75 (2023); 111-128 2256-5779 0120-3053 spa https://revistas.uptc.edu.co/index.php/cenes/article/view/14618/12736 https://revistas.uptc.edu.co/index.php/cenes/article/view/14618/13860 Copyright (c) 2023 Camilo Fabiam Gomez Segura, Andres David Cuellar Adames, Laura Camila Martínez Alvarado http://creativecommons.org/licenses/by-nc-sa/4.0 |
| spellingShingle | public spending economic growth education health research and development panel data model. heterocedasticity gasto público crecimiento económico panel de datos heterocedasticidad autocorrelación serial educación salud investigación y desarrollo Gomez Segura, Camilo Fabiam Cuellar Adames, Andres David Martínez Alvarado, Laura Camila Incidence of Public Spending on Economic Growth in South American Countries, 1995-2018 |
| title | Incidence of Public Spending on Economic Growth in South American Countries, 1995-2018 |
| title_alt | Incidencia del gasto público en el crecimiento económico de los países suramericanos, 1995-2018 |
| title_full | Incidence of Public Spending on Economic Growth in South American Countries, 1995-2018 |
| title_fullStr | Incidence of Public Spending on Economic Growth in South American Countries, 1995-2018 |
| title_full_unstemmed | Incidence of Public Spending on Economic Growth in South American Countries, 1995-2018 |
| title_short | Incidence of Public Spending on Economic Growth in South American Countries, 1995-2018 |
| title_sort | incidence of public spending on economic growth in south american countries 1995 2018 |
| topic | public spending economic growth education health research and development panel data model. heterocedasticity gasto público crecimiento económico panel de datos heterocedasticidad autocorrelación serial educación salud investigación y desarrollo |
| topic_facet | public spending economic growth education health research and development panel data model. heterocedasticity gasto público crecimiento económico panel de datos heterocedasticidad autocorrelación serial educación salud investigación y desarrollo |
| url | https://revistas.uptc.edu.co/index.php/cenes/article/view/14618 |
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