Government Expenditure and Economic Growth : An Empirical Investigation

This paper examines the empirical evidence on the contribution that government and, in particular, capital expenditure make to the growth performance of a sample of developing countries. Using the Denison growth accounting approach, this study finds that social expenditures may have a significant impact on growth in the short run, but infrastructure expenditures may have little influence. While current expenditures for directly productive purposes may exert a positive influence, capital expenditure in these sectors appears to exert a negative influence. Experiments with other explanatory variables confirm the importance of the growth of exports to the overall growth rate.
Publication date: May 1989
ISBN: 9781451974157
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Economics- Macroeconomics , Economics / General , International - Economics , expenditure , economic growth , growth rate , expenditures , capital expenditure

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