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A Case for Higher Public Spending

In: Efficiency, Equality and Public Policy

Author

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  • Yew-Kwang Ng

    (Monash University)

  • Siang Ng

Abstract

Saunders (1993) shows that the share of public expenditure reached a peak in most countries in early to mid-1980s, stabilised and then declined. (See also Bohl, 1996 and Payne and Ewing, 1996 on international evidence on the Wagner’s law on the increase in the share of the public sector.) The decline is sharper in terms of the real size of the public sector due to a higher relative price; see the end of Section 8.2 below. This decline is associated with the worldwide movement towards privatisation and the use of the market mechanism. While accepting that there are some valid reasons (such as the inefficiency of the public sector) underlying this movement, this chapter discusses some neglected factors that provide some offsetting considerations. Before doing so, the basic theory on the appropriate size of public spending on public goods and some related considerations are reviewed.

Suggested Citation

  • Yew-Kwang Ng & Siang Ng, 2000. "A Case for Higher Public Spending," Palgrave Macmillan Books, in: Efficiency, Equality and Public Policy, chapter 8, pages 105-123, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-333-99277-7_8
    DOI: 10.1057/9780333992777_8
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    Citations

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    Cited by:

    1. Ng, Yew-Kwang, 2018. "Ten rules for public economic policy," Economic Analysis and Policy, Elsevier, vol. 58(C), pages 32-42.
    2. Djumashev, Ratbek, 2006. "Corrupt Bureaucracy and Growth," MPRA Paper 2082, University Library of Munich, Germany.
    3. Wenli Cheng & Dingsheng Zhang, 2021. "Optimal Environmental Tax-Subsidy Regime in the Presence of Increasing Returns," Annals of Economics and Finance, Society for AEF, vol. 22(2), pages 525-540, November.
    4. Yew-Kwang Ng, 2003. "Orthodox Economics and Economists: Strengths and Weaknesses," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 48(01), pages 81-94.
    5. Yew-Kwang Ng, 2008. "Environmentally Responsible Happy Nation Index: Towards an Internationally Acceptable National Success Indicator," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 85(3), pages 425-446, February.
    6. Breitmoser, Yves & Tan, Jonathan H.W., 2020. "Why should majority voting be unfair?," Journal of Economic Behavior & Organization, Elsevier, vol. 175(C), pages 281-295.
    7. Haiou Zhou, 2012. "A New Framework of Happiness Survey and Evaluation of National Wellbeing," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 108(3), pages 491-507, September.
    8. Ratbek Dzhumashev, 2006. "Public Goods, Corruption And Growth???," Monash Economics Working Papers 15/06, Monash University, Department of Economics.
    9. Dzhumashev, Ratbek, 2008. "Corruption and regulatory burden," MPRA Paper 2081, University Library of Munich, Germany.
    10. Yew-Kwang Ng, 2011. "Happiness Is Absolute, Universal, Ultimate, Unidimensional, Cardinally Measurable and Interpersonally Comparable: A Basis for the Environmentally Responsible Happy Nation Index," Monash Economics Working Papers 16-11, Monash University, Department of Economics.

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