02921nam 2200589Ia 450 991046196720332120200520144314.01-4755-7597-11-4755-2349-1(CKB)2670000000278808(EBL)1606844(SSID)ssj0000939870(PQKBManifestationID)11600600(PQKBTitleCode)TC0000939870(PQKBWorkID)10948415(PQKB)10833007(MiAaPQ)EBC1606844(Au-PeEL)EBL1606844(CaPaEBR)ebr10627029(OCoLC)870245017(EXLCZ)99267000000027880820111102d2012 uy 0engur|n|---|||||txtccrQuality of government and living standards[electronic resource] adjusting for the efficiency of public spending /prepared by Francesco Grigoli and Eduardo LeyWashington, DC International Monetary Fund20121 online resource (22 p.)IMF working paper ;12/182Description based upon print version of record.1-4755-1430-1 1-4755-0530-2 Includes bibliographical references.Cover; Abstract; Contents; I. Introduction; II. Measuring Living Standards; III. Corrected GDP; Tables; 1. GDP Losses Associated with Wasted Public Resources; Figures; 1. GDP Loss Due to Health and Education Waste vs. Per Capita GDP; 2. GDP Loss Due to Health Waste vs. Per Capita GDP; 3. Technical Efficiency Scores, per Capita GDP, and Total Loss; 4. Technical Efficiency Scores, WGI's Government Effectiveness, GDP Loss Due to Health Waste, and Per Capita GDP; IV. Concluding Remarks; ReferencesIt is generally acknowledged that the government's output is difficult to define and its value is hard to measure. The practical solution, adopted by national accounts systems, is to equate output to input costs. However, several studies estimate significant inefficiencies in government activities (i.e., same output could be achieved with less inputs), implying that inputs are not a good approximation for outputs. If taken seriously, the next logical step is to purge from GDP the fraction of government inputs that is wasted. As differences in the quality of the public sector have a direct impaIMF Working PapersCost and standard of livingEconomic developmentElectronic books.Cost and standard of living.Economic development.Grigoli Francesco890773Ley Eduardo485587MiAaPQMiAaPQMiAaPQBOOK9910461967203321Quality of government and living standards2216693UNINA