Please use this identifier to cite or link to this item: https://doi.org/10.1016/j.jdeveco.2013.08.005
Title: Exogenous volatility and the size of government in developing countries
Authors: Brückner, M. 
Gradstein, M.
Keywords: E6
Government size
H1
O1
Rainfall
Volatility
Issue Date: Nov-2013
Citation: Brückner, M., Gradstein, M. (2013-11). Exogenous volatility and the size of government in developing countries. Journal of Development Economics 105 : 254-266. ScholarBank@NUS Repository. https://doi.org/10.1016/j.jdeveco.2013.08.005
Abstract: This paper presents instrumental variables estimates of the effects of GDP per capita volatility on the size of government. We show that for a panel of 157 countries spanning more than half a century, rainfall volatility has a significant positive effect on GDP per capita volatility in countries with above median temperatures. In these countries rainfall volatility has also a significant positive reduced-form effect on the GDP share of government. There is no significant reduced-form effect in the sample of countries with below median temperatures where rainfall volatility has no significant effect on GDP per capita volatility. Using rainfall volatility as an instrumental variable in the sample of countries with above median temperatures yields that greater GDP per capita volatility leads to a significantly higher GDP share of government. © 2013 Elsevier B.V.
Source Title: Journal of Development Economics
URI: http://scholarbank.nus.edu.sg/handle/10635/124320
ISSN: 03043878
DOI: 10.1016/j.jdeveco.2013.08.005
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