Fiscal policy and Growth in The OECD. Volume II: Appendix
AbstractThis paper investigates the impact of taxes and public expenditures on economic growth using panel data for a sample of OECD countries. Our empirical results suggest that fiscal policy influences growth through three main channels. First,the government contributes directly to factor accumulation through public investment in infrastructure and other assets. Second, public expenditure tends to crowd out private investment by reducing private disposable income and the incentive to save. Third, we find evidence of a sizable negative externality effect of government on the level of productivity.
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Bibliographic InfoPaper provided by Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC) in its series UFAE and IAE Working Papers with number 401.97.
Length: 65 pages
Date of creation: 1997
Date of revision:
FISCAL POLICY ; ECONOMIC GROWTH;
Find related papers by JEL classification:
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
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