We present an open economy growth model incorporating various elements of fiscal policy, including government expenditure on education and public capital (infrastructure), budget deficit, internal and external public debt, public consumption, and four tax rates. This detailed description of...

The purpose of this paper is to examine the long-run relationship between public education expenditures and economic growth. The social benefits of education exceed its private benefits. Therefore, education is considered a merit good; if not supplied by the public sector, private production is...