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Economic Growth and Fiscal Policy

In: Principles of Public Finance

Author

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  • Toshihiro Ihori

    (National Gradual Institute for Policy Studies)

Abstract

In the short-run macroeconomic model, investment is an important component of aggregate demand. Certainly, investment is a part of current effective demand. At the same time, it may increase production capacity by accumulating capital stock in the long run. This is an important function of public investment. It is also useful to investigate the impact of taxes on economic growth, since public investment is normally financed by taxes and an increase in taxes in the private sector depresses private investment. Thus, in this chapter, we investigate the supply-side effect of public investment and the impact of fiscal policy on long-run economic growth.

Suggested Citation

  • Toshihiro Ihori, 2017. "Economic Growth and Fiscal Policy," Springer Texts in Business and Economics, in: Principles of Public Finance, chapter 5, pages 101-137, Springer.
    • Handle: RePEc:spr:sptchp:978-981-10-2389-7_5
    DOI: 10.1007/978-981-10-2389-7_5
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