Description:
<jats:p>For the past two decades, economists, political scientists, and other public policy analysts have repeatedly lamented the lack of attention afforded the expenditure side of fiscal policy. Such concern has prompted numerous studies which have examined in great detail budgets of individual countries. Despite this renewed interest, surprisingly little has appeared in the area of comparative expenditure development. Cross‐country comparisons have traditionally employed cross‐section analyses while ignoring, except in rare instances, comparisons of time series data.</jats:p>