Korean Society and Public Administration 2023 KCI Impact Factor : 1.89
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pISSN : 1225-8652
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Does the Efficiency of Social Welfare Expenditure Matter? Revisiting the Relations Between Social Welfare Expenditure and Economic Growth Using Dynamic Panel Threshold Model
- Korean Society and Public Administration
- Abbr : KSPA
- 2015, 26(1), pp.27-52
- Publisher : Seoul Association For Public Administration
- Research Area : Social Science > Public Administration
1대전대학교
Accredited
ABSTRACT
This study revisits the relationship between social welfare expenditure and economic growth. In particular, the nonlinear relationship between social welfare expenditure and economic growth depending on the technical efficiency of social welfare expenditure measured by bootstrapped data envelopment analysis is empirically investigated using a dynamic panel threshold regression model for 29 OECD countries, 1990-2010.
The results reveal that social welfare expenditure had a negative impact on economic growth in the linear model, as well as the existence of an efficiency threshold of social welfare expenditure at 0.84 in the threshold model. Interestingly, social welfare expenditure was found to have a significant negative impact on economic growth in both the lower and upper efficiency regimes, albeit less so in the upper efficiency regime. This suggests that social welfare expenditure has a negative impact on economic growth, but it can be offset by attaining the higher goal of income redistribution. On this basis, suggestions for various systemic efforts to improve efficiency of social welfare expenditure are made.
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This paper was written with support from the National Research Foundation of Korea.