Public expenditures and the risk of social dominance Ludger Schuknecht & Holger Zemanek
By: Schuknecht, Ludger
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Contributor(s): Zemanek, Holger.
Material type: 
ArticlePublisher: 2021Subject(s): POLITICA FISCAL | GASTOS SOCIALES | SOSTENIBILIDAD FISCAL | POLITICA ECONOMICA
In:
Public Choice v. 188, n. 1-2, July 2021, p. 95-120Summary: Based on the observation of an unabated trend towards higher social spending-to-GDP ratios in advanced countries, the study analyzes the risk of social dominance, a situation in which social expenditures dominate fiscal policy and undermine economic growth and fiscal sustainability. We examine that risk by analyzing drivers of social expenditures and their interactions with other fiscal variables. The results show that social expenditure growth largely is population ageing driven and crowds out other primary expenditures; we also find evidence of fiscal unsustainability. The findings, along with the accelerating ageing of populations and exceptionally high political costs of reforming social expenditures suggest significant and rising risks of social dominance.
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| Artículos | IEF | IEF | OP 1443/2021/188/1/2-2 (Browse shelf) | Available | OP 1443/2021/188/1/2-2 |
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| OP 1443/2021/187/3/4-2 Government ideology and fiscal consolidation | OP 1443/2021/188/1/2 Public Choice | OP 1443/2021/188/1/2-1 Do fiscal rules constrain political budget cycles? | OP 1443/2021/188/1/2-2 Public expenditures and the risk of social dominance | OP 1443/2021/188/3/4-1 Veto players, market discipline, and structural fiscal consolidations | OP 1443/2021/189/1/2 Public Choice | OP 1443/2021/189/3/4 Public Choice |
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Based on the observation of an unabated trend towards higher social spending-to-GDP ratios in advanced countries, the study analyzes the risk of social dominance, a situation in which social expenditures dominate fiscal policy and undermine economic growth and fiscal sustainability. We examine that risk by analyzing drivers of social expenditures and their interactions with other fiscal variables. The results show that social expenditure growth largely is population ageing driven and crowds out other primary expenditures; we also find evidence of fiscal unsustainability. The findings, along with the accelerating ageing of populations and exceptionally high political costs of reforming social expenditures suggest significant and rising risks of social dominance.
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