Skip to 0 minutes and 15 secondsAcross the world, the amount spent on the public sector varies dramatically between different countries. Some countries with larger welfare states spend, on average, more resources, like in Denmark, Finland, France and Sweden. There's a lot of variety across the world in how much the public sector spends money on the whole. In the UK, for example, around a quarter of public sector spending is spent on social security. Then there's the NHS, education and defence. Other countries may have a different composition or structure of public sector spending. However, public sector spending also fluctuates over time. In the US, for example, public spending with respect to GDP skyrocketed during wartime and then oscillated around an upward sloped trend.
Introduction: public sector spending
The amount spent on the public sector varies dramatically between different countries and fluctuates over time.
We briefly introduce our discussion in this short animation.