Finance, Markets and Valuation
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Title: Analysis of the aggregate expenditure in the Spanish public sector. Special comment on the expenditure distribution between state, regions and municipalities
Authors: Andrea RodrÃguez Peris
DOI: Not found
Abstract:
In the last ten years Spain has changed from enjoying a buoyant economic situation with high economic growth to suffering economic recession, what has generated an undoubtable deterioration of public finances. This paper analysis how the economic crisis which started in 2008 has influenced public sector expenditure in Spain. To this end, first, the GDP evolution is described, together with the aggregate public sector expenditure. It is made obvious that, notwithstanding budget cuts, the aggregate public sector expenditure never dropped below the level reached in 2008, which is the pre-crises maximum. Thereupon, a more detailed analysis of the different budgets configuring the aggregate Spanish public sector is performed. Special attention is devoted to the territorial structure of the State, that is, the budgets of the Central Government, the Regions and the municipalities. It is observed that the impact of the crisis is not been the same for all territorial levels, nor has been the intensity of the austerity policies.
Keywords: Not found
