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Government Size and the Composition of Public Spending in a Neoclassical Growth Model

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Author Info
OA. Carboni
G. Medda

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Abstract

This paper develops a non-linear theoretical relationship between public spending and economic growth. The model identifies the “optimal” size of government and the “optimal” composition of government spending. Given the size of the government, different allocations of public resources lead to different growth rates in the transition dynamics, depending on their elasticity. We argue that neglecting the hypothesis of non-linearity and the different impact different kinds of public spending have on economic performance results in models which suffer from mis-specification. Traditional linear regression analysis may thus be biased

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Paper provided by Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia in its series Working Paper CRENoS with number 200701.

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Date of creation: 2007
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Handle: RePEc:cns:cnscwp:200701

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Related research
Keywords: neoclassical and augmented growth models; fiscal policy; public spending composition;

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Find related papers by JEL classification:
E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  41. Gianfranco Atzeni & Oliviero Carboni, 2006. "Regional Disparity in ICT Adoption: an Empirical Evaluation of The Effects of Subsidies in Italy," Working Paper CRENoS 200608, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia. [Downloadable!]
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Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. M. Pitzalis & Isabella Sulis & Mariano Porcu, 2008. "Differences of Cultural Capital among Students in Transition to University. Some First Survey Evidences," Working Paper CRENoS 200805, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia. [Downloadable!]
  2. Gerardo Marletto, 2007. "Crossing The Alps: Three Transport Policy Options," Working Paper CRENoS 200712, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia. [Downloadable!]
  3. Isabella Sulis & Mariano Porcu, 2008. "Assessing the Effectiveness of a Stochastic Regression Imputation Method for Ordered Categorical Data," Working Paper CRENoS 200804, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia. [Downloadable!]
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