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We study the dynamic output and welfare effects of public infrastructure investment under a balanced budget fiscal rule, using an overlapping generations model of a small open economy. The government finances public investment by employing distortionary labor taxes. We find a negative short-run...
Persistent link: https://www.econbiz.de/10011090750
The paper studies the dynamic output effects of public infrastructure investment in a small open economy. We develop an overlapping generations model that includes a production externality of public capital and a wealth effect on labor supply. Public capital enters the firm's production function...
Persistent link: https://www.econbiz.de/10011090760
services are and we provide evidence for this both in terms of traditional measures of sigma- and beta-convergence and more …
Persistent link: https://www.econbiz.de/10009246879
The last two decades have seen increased divergence among the states of the Indian Federation in terms of their economic performance. This paper uses spatial econometric methods to examine how the regional pattern of growth has been influenced by the economic reforms implemented since the early...
Persistent link: https://www.econbiz.de/10008564520
This paper develops an endogenous growth model in which the government finances its public investment using both income taxation and seigniorage. Arguments presented in this paper show that public investment financed by seigniorage gradually pulls up the growth rate of consumption and overshoots...
Persistent link: https://www.econbiz.de/10005823480
Imbalances in regional infrastructural availability have been a major reason behind lopsided development in India. This paper examines the veracity of this argument in light of empirical results at the district level using a multidimensional approach with sub-sectoral, sectoral and composite...
Persistent link: https://www.econbiz.de/10005836546
Imbalances in regional infrastructural availability have been a major reason behind lopsided development in India. This paper examines the veracity of this argument in light of empirical results at the district level using a multidimensional approach with sub-sectoral, sectoral and composite...
Persistent link: https://www.econbiz.de/10005252127
Wide regional variation has been a major characteristic of development experience in India. In the present study, the multidimensional facet of development is sought to be reflected through composite indices of development. It deals with the development trends exhibited at the National as well...
Persistent link: https://www.econbiz.de/10005616793
Imbalances in regional infrastructural availability have been a major reason behind lopsided development in India. This paper examines the veracity of this argument in light of empirical results at the district level using a multidimensional approach with sub-sectoral, sectoral and composite...
Persistent link: https://www.econbiz.de/10005620157
This paper examines the evidence for regional convergence or catch-up in levels and growth rates of per capita income …, Re-Weighted Least Squares, and Least Trimmed Squares - establish that unconditional convergence in growth rates does not … obtain, but that there is clear and robust evidence of conditional convergence. This suggests that important differences …
Persistent link: https://www.econbiz.de/10010605213