Investigating the Impact of Financial Development Management Policies on the Composition of Government Expenditures: A Case Study of Developing Countries

including countries; Argentina, Azerbaijan, Bahrain, Bangladesh, Belarus, Brazil, Chile, China, Colombia, India, Indonesia, Iran, Kazakhstan, Mexico, Morocco, Pakistan, Russia, Romania, Thailand, Tunisia, Turkey, Uruguay. The panel model framework was used to analyze the data, which showed the results of the first model estimates; The logarithm of the broad definition of money has a negative and significant effect, the logarithm of the ratio of stock value to GDP has a negative and significant effect and per capita production also has a positive and significant effect on health costs. Also, the results of the second model estimates showed that the logarithm of the broad definition of money has a negative and significant effect, the logarithm of the ratio of stock value to GDP has a negative and significant effect and per capita production has a positive and significant effect on educational costs. Finally, the results of the third model estimates showed that the logarithm of the broad definition of money has a negative and significant impact, the logarithm of the ratio of stock value to GDP has a negative and significant impact and per capita production also has a negative and significant impact on military and defense spending. have.