Payments for environmental services (PES) have attracted increasing interest as a mechanism to translate external, non-market values of the environment into real financial incentives for local actors to provide environmental services (ES). In this introductory paper, we set the stage for the...

This paper identifies a key feature of the structure of government spending as a determinant of economic growth: the public goods/ private goods expenditure ratio, where public goods are broadly defined as expenditures that mitigate market failure. The paper develops a theoretical and empirical...

This paper examines the effects of public provision of private goods (i.e., non-social government subsidies) to the detriment of government provision of public goods and social subsidies on two key measures of the quality of economic growth: poverty rates and income inequality. We use a new data...