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Dépenses publiques et croissance

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  • Philippe Mills
  • Alain Quinet
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    Abstract

    [fre] Traditionnellement, les débats concernant la politique budgétaire se sont centrés sur la définition du niveau souhaitable de solde public à court et moyen terme. Des travaux plus récents ont élargi le champ de la réflexion sur l'impact à moyen terme des finances publiques, notamment sur leurs effets bénéfiques éventuels sur la productivité privée et la rentabilité du capital. L'enjeu représenté par ces travaux est potentiellement considérable : si les estimations effectuées sont robustes, les pouvoirs publics disposent, à côté du solde budgétaire et des taux de pression fiscale, d'un autre instrument macroéconomique pour stimuler la productivité du secteur privé. Cet enjeu revêt une importance particulière pour l'économie française qui souffre d'une pénurie relative de capital. L'objet de cet article est de préciser les termes de ce débat: après avoir analysé, d'un point de vue théorique et empirique, le rôle des principales composantes de la dépense publique dans le processus de croissance, qui semble indiquer qu'il convient de distinguer à cet égard entre dépenses courantes et dépenses d'investissement au sens large (y.c dépenses de formation et de R D), regroupées ici sous le vocable de "dépenses d'avenir", la nécessité de la prise en compte de cet impact favorable à moyen terme des dépenses d'avenir par la procédure budgétaire apparaît hautement souhaitable dans le cadre d'un objectif général de maîtrise de la dépense. [eng] This paper examines the relationship between public spending and economic growth. While much of the conventional discussion of the fiscal policy focuses on the public sector deficit and its short term impact on the level of aggregate demand, other approaches have been developped in recent years that argue that cost effective public expenditure can stimulate the supply-side of the economy. In a first part, we discuss the economic rationale for public spending. In a second one, a survey of recent econometric work provides some evidence that public expenditure and especially public capital can enhance the private sector productivity. In examining this effect on the private side of the economy, the third part stresses the need to draw a distinction between public consumption and public investment, including expenditures on research and education. Finally, we underline that paying more attention to the macroeconomic benefits of cost effective "expenditures for the future" could be made consistent with a policy of fiscal consolidation.

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    File URL: http://dx.doi.org/10.3406/rfeco.1992.1314
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    Bibliographic Info

    Article provided by Programme National Persée in its journal Revue française d'économie.

    Volume (Year): 7 (1992)
    Issue (Month): 3 ()
    Pages: 29-60

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    Handle: RePEc:prs:rfreco:rfeco_0769-0479_1992_num_7_3_1314

    Note: DOI:10.3406/rfeco.1992.1314
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    Web page: http://www.persee.fr/web/revues/home/prescript/revue/rfeco

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