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Growth, Debt and Public Infrastructure

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  • Krichel, Thomas
  • Levine, Paul

Abstract

This paper presents a closed economy model of endogenous growth driven by capital externalities arising from both private capital and public infrastructure. The model is calibrated to fit data for India, an approximately closed economy. Simulations suggest that fiscal policy certainly matters and the choice of the income taxation rate, the mix of government spending between infrastructure and public consumption goods. and the long-run government debt/GDP ratio can all significantly affect the long-run growth rate. Intertemporal aspects of fiscal policy are also important and the precommitment (time-inconsistent) and non-precommitment policies differ substantially. Copyright 1995 by Kluwer Academic Publishers

Suggested Citation

  • Krichel, Thomas & Levine, Paul, 1995. "Growth, Debt and Public Infrastructure," Economic Change and Restructuring, Springer, vol. 28(2-3), pages 119-146.
    • Handle: RePEc:kap:ecopln:v:28:y:1995:i:2-3:p:119-46
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    Cited by:

    1. OZDEMIR Durmus, 2010. "Growth, Infrastructure and Fiscal Policy," EcoMod2003 330700116, EcoMod.
    2. Patnaik, Ila & Pundit, Madhavi, 2014. "Is India's Long-Term Trend Growth Declining?," ADB Economics Working Paper Series 424, Asian Development Bank.
    3. Patnaik, Ila & Pundit, Madhavi, 2016. "Where is India's Growth Headed?," Working Papers 16/159, National Institute of Public Finance and Policy.
    4. Asep Suryahadi & Sudarno Sumarto & Daniel Suryadarma & Jesse Darja, "undated". "Kondisi Infrastruktur dan Layanan Publik Tingkat Desa di Indonesia pada Masa Krisis Ekonomi," Working Papers 3471, Publications Department.
    5. Jesse Darja & Daniel Suryadarma & Asep Suryahadi & Sudarno Sumarto, "undated". "The State of Village-Level Infrastructures and Public Services in Indonesia during the Economic Crisis," Working Papers 378, Publications Department.

    More about this item

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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