A Reconsideration of the Public Sector's Contribution to Growth
A recent development in macroeconomic theory suggests that public investment "per se" is relevant to economic growth, without regard to the means of financing government activity. This study undertakes an empirical investigation of this proposition, comparing two subperiods of the manufacturing sector's performance in Greece. Our test results support the conventional view that the size of public capital formation and the real intertemporal allocation of public sector may be important for determining manufacturing costs and profits but public deficits are likely to be of comparable or even dominating importance in determining manufacturing output. The emphasis on the financial as opposed to the real aspects of the government's decisions allows the establishment of a benchmark model as an appealing alternative to the newclassical analysis.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 20 (1995)
Issue (Month): 3 ()
|Contact details of provider:|| Web page: http://www.springer.com|
|Order Information:||Web: http://www.springer.com/economics/econometrics/journal/181/PS2|
When requesting a correction, please mention this item's handle: RePEc:spr:empeco:v:20:y:1995:i:3:p:385-414. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Rebekah McClure)
If references are entirely missing, you can add them using this form.