Fiscal federalism , economic growth , Bayesian Model Averaging
Abstract:
Following the ambiguous results in the literature aimed at understanding the
empirical link between fiscal federalism and economic growth, this paper revisits
the question using a Bayesian Model Averaging approach. The analysis suggests
that the failure to appropriately account for model uncertainty may have previously
led to biased estimates. The results from a sample of 23 OECD countries
over 1975-2000 indicate that after controlling for unobserved country heterogeneity,
there is no robust link, neither positive, nor negative, between output growth
and fiscal federalism (measured as sub-national governments' share of own source
tax revenue).
Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.
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