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Public Expenditures, Taxes, Federal Transfers, and Endogenous Growth

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  • Liutang Gong

    (Guanghua School of Management, Peking University)

  • Heng-fu Zou

    (CEMA, Central University of Finance and Economics
    Shenzhen University
    Wuhan University
    The World Bank)

Abstract

This paper extends the Barro (1990) model with single aggregate government spending and one flat income tax to include public expenditures and taxes by multiple levels of government. It derives the rate of endogenous growth and, with both simulations and special examples, examines how that rate changes with respect to federal income tax, local taxes, and federal transfers. It also discusses the growth and welfare-maximizing choices of taxes and federal transfers.

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Bibliographic Info

Paper provided by China Economics and Management Academy, Central University of Finance and Economics in its series CEMA Working Papers with number 524.

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Length: 21 pages
Date of creation: 2011
Date of revision:
Handle: RePEc:cuf:wpaper:524

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Web page: http://cema.cufe.edu.cn/
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Keywords: Public expenditures; Taxes; Federal transfers; Endogenous growth;

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  1. King, Robert G & Rebelo, Sergio, 1990. "Public Policy and Economic Growth: Developing Neoclassical Implications," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S126-50, October.
  2. Oates, Wallace E., 1993. "Fiscal Decentralization and Economic Development," National Tax Journal, National Tax Association, vol. 46(2), pages 237-43, June.
  3. Glomm, Gerhard & Ravikumar, B., 1994. "Public investment in infrastructure in a simple growth model," Journal of Economic Dynamics and Control, Elsevier, vol. 18(6), pages 1173-1187, November.
  4. Bird, Richard M., 1993. "Threading the Fiscal Labyrinth: Some Issues in Fiscal Decentralization," National Tax Journal, National Tax Association, vol. 46(2), pages 207-27, June.
  5. Tao Zhang & Heng-fu Zou, 1996. "Fiscal decentralization, public spending, and economic growth in China," Policy Research Working Paper Series 1608, The World Bank.
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Cited by:
  1. Liutang Gong & Heng-fu Zou, 2011. "Fiscal Federalism, Public Capital Formation, and Endogenous Growth," CEMA Working Papers 488, China Economics and Management Academy, Central University of Finance and Economics.
  2. Liutang Gong & Heng-fu Zou, 1998. "Fiscal Policies in a Finite Horizon Model with the Spirit of Capitalism," CEMA Working Papers 102, China Economics and Management Academy, Central University of Finance and Economics.
  3. Chu, Hsun & Lai, Ching-Chong & Cheng, Chu-Chuan, 2013. "Tax Havens, Growth, and Welfare," MPRA Paper 52878, University Library of Munich, Germany, revised Sep 2013.

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