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This paper studies the relation between government spending composition and long-run behavior of Colombian real Exchange rate given the recomposition since 2004 from public consumption to public investment. Our results suggest that empirical models work better when the relative price of non-tradables is used as a measure of the real Exchange rate instead of an index based on the purchasing power parity. Besides, there is evidence that real exchange rate behavior is mainly explained by supply side factors and that without the recomposition, expected real Exchange rate would have been close to the observed one. [ABSTRACT FROM AUTHOR]

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This paper is aimed at developing a stochastic macroeconomic model useful to explain the effects of unexpected jumps in government spending per capita and in demographic variables on per capita economic growth. To do this, it is assumed that the stochastic dynamics of output and population are driven by mixed diffusion- jumps processes modulated by a Markov Chain. The most important results are that extreme sudden jumps in government spending per capita and in the population growth rate impact negatively the rate of per capita output growth. In particular, if there is a sudden sharp jump in the rate of population growth, then capital per capita suddenly decreases impacting negatively per capita output. Finally, the theoretical findings are supplemented with empirical evidence about the Mexican case obtained through a model that takes in account the volatility of the growth rates of the population and the per capita public expense as well as the surprises in the jump intensities of both variables. [ABSTRACT FROM AUTHOR]

Proper management of government budgets ensures sustained economic growth of the governed entities; so the purpose of this research is to determine the degree of financial efficiency of the public administration of the states that make up the Western region of Mexico. The main results shows that the analyzed states continue to maintain a strong dependence of federal resources, the most autonomous state followed by Querétaro Aguascalientes. Regarding the investment capacity to Aguascalientes and Colima is seen as the best states weighted in this area; Michoacan is the state with more bureaucratic cost (44.76%) followed by Guanajuato (34.83%) and Jalisco (33.32%); while states that exceed 100 from the sum of these two indicators are on or are spending Michoacán first followed by Nayarit, Jalisco, Guanajuato and Zacatecas. [ABSTRACT FROM AUTHOR]

This paper estimates public and private (household) spending per student on education in early childhood, primary and secondary education in Spain, in public educational institutions and in publicly-funded private educational institutions. We use 2007 data from the Household Spending on Education Survey and the Statistics on Public Spending on Education. Public expenditure on education per student in publicly-funded private educational institutions was 49.9% that spent on public educational institutions. The cost assumed by families in public institutions was 38.7% that spent on publicly-funded private educational institutions. The total expenditure per student on publicly-funded private educational institutions was 66.9% that spent on public educational institutions. Enrollment in publicly-funded private educational institutions implies a reduction of public expenditure on education and the transfer of part of those educational expenses to families. [ABSTRACT FROM AUTHOR]

In the framework of a monetary economy with labor and debt (public and private), the effects of government as a promoting agent to boost up technological change are studied. Through a model of endogenous growth, the growth rates of all sectors are characterized in the perfect foresight equilibrium. Moreover, the impact on economic welfare of taxes and government spending to impulse technological change is assessed. Finally, in a simulation exercise, the initial optimal level of government spending (which maximizes welfare), in which the government should incur to adequately address technological change, is examined. [ABSTRACT FROM AUTHOR]

This paper develops a model of endogenous growth where the government acts as a promoting agent to boost technology in agribusiness. In the framework of a monetary economy, the optimal level of government spending to enhance technology in the agricultural industry is characterized. Moreover the impact of such a spending on economic welfare is assessed. Finally, a number of agro-oriented policies to increase growth in the sector are established. [ABSTRACT FROM AUTHOR]

The relationship between fiscal policy (FP) and economic growth has been dealt with using a theoretico-practical corpus known as "models of endogenous growth (MEG)", which assumes that FP can affect growth, as long as the instruments for applying spending and the inflow of resources carry certain characteristics. On the spending side, it is thought that some kinds of outlay are productive and others are not, while on the income side it is assumed that incomes can either be distortional or non-distortional. Although the present document agrees with some of the views postulated by MEG, it diverges from it due to its lack of attention to the possibility that FP can result in a deficit, looking basically at a context of public finance in equilibrium. [ABSTRACT FROM AUTHOR]

This study develops an endogenous growth model in which the government intervenes in the generation of technology. In the framework of a monetary economy the optimum amount of government spending is characterized to promote the technological level, and, as a consequence, economic growth. Meanwhile, it analyzes the impact that this spending has on economic welfare. Finally, some recommendations are made for industrial policy, oriented towards increasing the marginal product of capital. [ABSTRACT FROM AUTHOR]