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KMID : 1001320100370030215
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Social Welfare Policy
2010 Volume.37 No. 3 p.215 ~ p.239
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The Effects of Social and Economic Expenditures on National Competitiveness
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Byun Young-Woo
Park Eun-Ha
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Abstract
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This study explores the effects of social and economics expenditures on national competitiveness, using panel data from 21 OECD countries. This research has used the overall scores of IMD World Competitiveness as dependent variable and social and economic expenditures categorized by government functions of UN as independent variables. Since the panel data violates the basic assumption of OLS, this study has used Prais-Winsten regression, correlated panels corrected standard errors. The results are followed: Social expenditures had an impact on national competitiveness positively. In particularity, the higher percentage of social protection and education expenditures among total governmental expenditures rose, the more scores countries got; and Among economic expenditure variables, economic affairs and environmental protection expenditures had a negative impact on national competitiveness. These findings suggest that, on contradiction to the existing myths, some of economic expenditures have negative impacts on economic performance and social expenditures may boost national competitiveness in the world economic market.
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KEYWORD
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Social expenditures, economic expenditures, national competitiveness
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