-loaded increase in public infrastructure investment yield the desired growth-promoting effect? Taking a rigorous lo … productivity of the poor. How should these policies be sequenced and implemented to spur growth? Would a large, front …

spending on both education and public infrastructure proves to be the most effective way to permanently boost economic growth …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 …