The impact of efficiency on the economic growth of emerging economies : the case of Colombia
Giménez, Víctor (Universitat Autònoma de Barcelona)
Prior Jiménez, Diego (Universitat Autònoma de Barcelona)
Tortosa-Ausina, Emili (Universitat Jaume I)

Data:	2018
Resum:	As is well established (Robinson and Acemoglu, 2012), the economic performance of countries depends on the quality level of its institutions. Referring to economic performance, this paper establishes the aggregate efficiency of 133 countries in the generation of GDP by using the production theory framework and considering the participation of human as well as physical capital. Additionally, to what extent the aggregated performance depends on the level of quality and effectiveness of the subsequent national public institutions is analyzed. Further, whether or not the size of the public expenditure, and its level of efficiency, have an impact on the rate of economic growth is also determined. To conclude, the conditions that favor public expenditure as a driver for economic growth are determined. After a general overview, Colombia's specific situation is analyzed. The results confirm the importance of the quality of the institutions in the respective levels of efficiency. As well as confirming how level of efficiency is a key factorin obtaining economicgrowth from public spending.
Ajuts:	Ministerio de Economía y Competitividad ECO2013-46954-C3-2-R Ministerio de Economía y Competitividad ECO2013-44115-P Ministerio de Economía y Competitividad ECO2014-55221-P
Nota:	Altres ajuts: Universitat Jaume I (P1ꞏ1B2014-17) ; Generalitat Valenciana (PROMETEOII/2014/046)
Drets:	Tots els drets reservats.
Llengua:	Castellà
Document:	Article ; recerca ; Versió de l'autor
Matèria:	Aggregate performance ; Economic growth ; Quality of institutions ; Stochastic frontier ; Analysis ; ODS 8: Trabajo decente y crecimiento económico
Publicat a:	Ensayos sobre Política Económica, Vol. 36 Núm. 85 (2018) , p. 86-100, ISSN 1853-6999

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