The Leading eBooks Store Online 4,272,009 members ⚫ 1,419,367 ebooks

New to eBooks.com?

Learn more

Quality of Government and Living Standards: Adjusting for the Efficiency of Public Spending

Quality of Government and Living Standards: Adjusting for the Efficiency of Public Spending by Francesco Grigoli
Buy this eBook
US$ 9.00
(If any tax is payable it will be calculated and shown at checkout.)
It is generally acknowledged that the government’s output is difficult to define and its value is hard to measure. The practical solution, adopted by national accounts systems, is to equate output to input costs. However, several studies estimate significant inefficiencies in government activities (i.e., same output could be achieved with less inputs), implying that inputs are not a good approximation for outputs. If taken seriously, the next logical step is to purge from GDP the fraction of government inputs that is wasted. As differences in the quality of the public sector have a direct impact on citizens’ effective consumption of public and private goods and services, we must take them into account when computing a measure of living standards. We illustrate such a correction computing corrected per capita GDPs on the basis of two studies that estimate efficiency scores for several dimensions of government activities. We show that the correction could be significant, and rankings of living standards could be re-ordered as a result.
International Monetary Fund; July 2012
21 pages; ISBN 9781475523492
Read online, or download in secure EPUB or secure PDF format
Title: Quality of Government and Living Standards: Adjusting for the Efficiency of Public Spending
Author: Francesco Grigoli; Eduardo Ley
 
ISBNs
1475523491
9781475505306
9781475514308
9781475523492