Table 7.

The lagged effectiveness of fiscal rules

	Inflation adjusted government health care expenditure in log
	(1)	(2)	(3)	(4)	(5)	(6)
	Lag: 1 year			Lag: 2 years
FR	−0.04***			−0.05***
	(0.01)			(0.01)
ER		−0.05***			−0.06***
		(0.01)			(0.01)
BBR			−0.04***			−0.05***
			(0.01)			(0.01)
Log debt	−0.04**	−0.03*	− 0.04**	− 0.04**	−0.03**	− 0.04**
	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)
Log GDP	0.77***	0.71***	0.77***	0.80***	0.70***	0.78***
	(0.06)	(0.05)	(0.06)	(0.06)	(0.05)	(0.06)
Log population	0.14	0.22	0.11	0.10	0.23	0.08
	(0.12)	(0.12)	(0.12)	(0.12)	(0.12)	(0.12)
IMF bailout	−0.03	−0.03	−0.03	−0.02	−0.03	−0.03
	(0.02)	(0.02)	(0.02)	(0.02)	(0.02)	(0.02)
Constant	−12.82***	−12.35***	−12.43***	−12.77***	−12.22***	−12.24***
	(1.62)	(1.61)	(1.62)	(1.61)	(1.60)	(1.61)
Country FE	Y	Y	Y	Y	Y	Y
Year FE	Y	Y	Y	Y	Y	Y
N	717	717	717	717	717	717
adj. R2	0.997	0.997	0.997	0.997	0.997	0.997

Standard errors are in parentheses

*p < 0.05, **p < 0.01, ***p < 0.001