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Dette publique et croissance endogene

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  • Crettez, B.
  • Job, I.
  • Loupias, C.

Abstract

[fre] Dette publique et croissance endogène. . L'objet de cet article est d'analyser les effets sur la croissance et le bien-être de deux modes de financement, des dépenses publiques. Il s'agit respectivement d'une politique d'équilibre budgétaire et d'une politique d'endettement public.. L'analyse de ces effets est effectuée à l'aide d'un modèle à générations imbriquées avec dépenses publiques productives et croissance endogène.. Nous montrons qu'avec une politique d'équilibre budgétaire, le taux de croissance d'équilibre est toujours plus élevé que celui obtenu avec une politique d'endettement public.. Nous donnons ensuite des conditions sous lesquelles un mode de financement donné est socialement préférable à l'autre (c'est-à-dire maximise un critère de bien-être social intertemporel). Nous montrons qu'il peut être socialement préférable de financer des dépenses publiques par emprunt plutôt que par impôts. [eng] Public debt and endogenous growth. . The purpose of this paper is to provide an analysis of the consequences on growth and welfare of two different financing schemes of the fiscal stance. These schemes are respectively : a balanced budget policy and a public debt policy.. We make use of an overlapping generations model with productive public expenditures and endogenous growth.. We show that, with a balanced budget policy the equilibrium growth rate is strictly higher than the growth rate resulting from a public debt policy.. We also provide conditions under which a given financing scheme is socially superior to the other one. Indeed, it may be socially desirable to finance public expenditures by issuing public bonds rather than to manage to balance the budgets.
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Suggested Citation

  • Crettez, B. & Job, I. & Loupias, C., 1995. "Dette publique et croissance endogene," Papiers d'Economie Mathématique et Applications 95.11, Université Panthéon-Sorbonne (Paris 1).
  • Handle: RePEc:fth:pariem:95.11
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    References listed on IDEAS

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    1. Diagne, Youssoupha Sakrya & Sy, Hamat & Thiam, Dame, 2014. "Efficience des dépenses publiques au Sénégal [Public spending efficiency in Senegal]," MPRA Paper 113994, University Library of Munich, Germany.

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    Keywords

    CROISSANCE ECONOMIQUE; DETTE;

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