Risk reduction and public spending (English)

As governments grow richer, the share of their GDP devoted to public spending rises. Public spending in the United States was 7.5 percent of GDP in 1913. It is 33 percent today. Although industrial countries spend twice as much as developing countries, government spending on goods and services is the same in both groups of countries. The difference is almost entirely due to transfer payments, which are about 22 percent of GDP in the industrial world...
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Citation

Devarajan,Shantayanan; Hammer,Jeffrey S..

Risk reduction and public spending (English). Policy, Research working paper ; no. WPS 1869 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/539401468739468826

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