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Lesons Government Failure: Public Goods Provision and Quality of Public Investment

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  • Arvind Virmani

Abstract

This paper focuses on government investment and expenditure policies. Going beyond the growth experience, the author also tries to relate the policy experience to the issues of aggregate poverty, income distribution and hunger at an aggregate level. The broad theme that emerges from the analysis is that the failures on this front, apart from the indirect effects of growth, are linked directly to the failure of governance. This failure has many dimensions; the misallocation of government resources, the failure to follow norms of social benefit-cost analysis that were the reason-de-tar for the introduction of national planning, the neglect of public and quasi-public goods that are the most fundamental justification for the existence of government and a gradual (over decades) but progressive deterioration in the quality of governance. [Planning commission Working Paper 2/2006]

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  • Arvind Virmani, 2007. "Lesons Government Failure: Public Goods Provision and Quality of Public Investment," Working Papers id:959, eSocialSciences.
    • Handle: RePEc:ess:wpaper:id:959
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    References listed on IDEAS

    as
    1. Arvind Virmani, 2004. "Economic reforms: Policy and institutions some lessons from Indian reforms," Indian Council for Research on International Economic Relations, New Delhi Working Papers 121, Indian Council for Research on International Economic Relations, New Delhi, India.
    2. Arvind Virmani, 2004. "India's economic growth: From socialist rate of growth to Bharatiya rate of growth," Indian Council for Research on International Economic Relations, New Delhi Working Papers 122, Indian Council for Research on International Economic Relations, New Delhi, India.
    3. Arvind Virmani, 2005. "Policy regimes, growth and poverty in India : Lessons of government failure and entrepreneurial success," Indian Council for Research on International Economic Relations, New Delhi Working Papers 170, Indian Council for Research on International Economic Relations, New Delhi, India.
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