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Is Social Expenditure Responsible for Recent Rise in Public Debt in OECD Countries?

by Insook Lee

ARTICLE | Applied Economics Letters | Forthcoming


In developed economies, social expenditure is alleged to cause the rise in public debt over the last three decades. With dynamic panel data of 34 OECD countries from 1980 to 2014, we find robust evidence that the rise in public debt is not attributable to social expenditure.
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