Public Expenditure and Economic Growth in Togo
| dc.contributor.author | Yovo, Koffi | |
| dc.date.accessioned | 2020-11-16T16:04:27Z | |
| dc.date.available | 2020-11-16T16:04:27Z | |
| dc.date.issued | 2017-02-21 | |
| dc.description.abstract | This paper assesses the impact of the level and composition of public expenditure on growth in Togo. To this end, a neoclassical growth model was estimated using the Two-Stage Least-Squares method.The findings highlight that public expenditure during the period 1980–2009 had no significant positive effect on economic growth. However, public consumption had a negative impact and public investment a positive impact on growth. The maximum level at which public consumption becomes harmful to economic growth is estimated at 16%. Similarly, the minimum level of investment required to boost growth is estimated at 5.7%. All things being equal, a reallocation of public expenditure following the estimated optimal composition involves an additional increase in growth of 24%. Moreover, the study finds that increasing public expenditure involves a crowding-out effect, suggesting the need to review the way in which public expenditure can be financed more efficiently. | en_US |
| dc.identifier.isbn | 978-9966-61-022-5 | |
| dc.identifier.uri | https://publication.aercafricalibrary.org/handle/123456789/1165 | |
| dc.publisher | African Economic Research consortium | en_US |
| dc.relation.ispartofseries | Research Paper 331;RP 331 | |
| dc.subject | Public consumption | en_US |
| dc.subject | , public investment, | en_US |
| dc.title | Public Expenditure and Economic Growth in Togo | en_US |