Fiscal Structures and Economic Growth: International Evidence.
This paper systematically examines the effects of fiscal structure on economic growth. The authors find that, for developing countries, debt-financed increases in government expenditure retard growth and tax-financed increases stimulate growth, while for developed countries, debt-financed increases in government expenditure do not affect growth and tax-financed increases lower growth. The authors impose the government budget constraint on the regression equations so that the precise changes in fiscal policy can be identified (e.g., the effect of a debt-financed increase in health expenditure), employing a pooled cross-section, time-series sample and fixed- and random-effect methods. Copyright 1997 by Oxford University Press.
Year of publication: |
1997
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Authors: | Miller, Stephen M ; Russek, Frank S |
Published in: |
Economic Inquiry. - Western Economic Association International - WEAI. - Vol. 35.1997, 3, p. 603-13
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Publisher: |
Western Economic Association International - WEAI |
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