IDEAS home Printed from https://ideas.repec.org/p/fth/pariem/95.11.html
   My bibliography  Save this paper

Dette publique et croissance endogene

Author

Listed:
  • 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.
(This abstract was borrowed from another version of this item.)

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
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Barro, Robert J, 1974. "Are Government Bonds Net Wealth?," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
    3. Artus, P., 1993. "Comment reduire l'endettement public en Europe?," Papers 1993-08-t, Caisse des Depots et Consignations - Cahiers de recherche.
    4. Gilles Saint-Paul, 1992. "Fiscal Policy in an Endogenous Growth Model," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 107(4), pages 1243-1259.
    5. Barro, Robert J, 1990. "Government Spending in a Simple Model of Endogenous Growth," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 103-126, October.
    6. Woodford, Michael, 1990. "Public Debt as Private Liquidity," American Economic Review, American Economic Association, vol. 80(2), pages 382-388, May.
    7. Barro, Robert J, 1979. "On the Determination of the Public Debt," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 940-971, October.
    8. Bean, Charles & Pissarides, Christopher, 1993. "Unemployment, consumption and growth," European Economic Review, Elsevier, vol. 37(4), pages 837-854, May.
    9. Gavrel, F., 1992. "Dette publique, accumulation du capital et chomage d'equilibre dans le cadre d'analyse de M. Allais: un modele a la Diamond-Shapiro et Stiglitz," Papiers d'Economie Mathématique et Applications 92.46, Université Panthéon-Sorbonne (Paris 1).
    10. Costas Azariadis & Allan Drazen, 1990. "Threshold Externalities in Economic Development," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 105(2), pages 501-526.
    11. Patrick Artus & Moncef Kaabi, 1993. "Dépenses publiques, progrès technique et croissance," Revue Économique, Programme National Persée, vol. 44(2), pages 287-318.
    12. Blanchard, Olivier J, 1985. "Debt, Deficits, and Finite Horizons," Journal of Political Economy, University of Chicago Press, vol. 93(2), pages 223-247, April.
    13. MARCHAND, Maurice & MICHEL, Philippe & PESTIEAU, Pierre, 1993. "Optimal intergenerational transfers in an endogenous growth model with fertility change," LIDAM Discussion Papers CORE 1993011, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    14. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-491, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    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.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Saint-Paul, Gilles, 1997. "The role of rents to human capital in economic development," Journal of Development Economics, Elsevier, vol. 53(2), pages 229-249, August.
    2. Elmendorf, Douglas W. & Gregory Mankiw, N., 1999. "Government debt," Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 25, pages 1615-1669, Elsevier.
    3. Folster, Stefan & Henrekson, Magnus, 1999. "Growth and the public sector: a critique of the critics," European Journal of Political Economy, Elsevier, vol. 15(2), pages 337-358, June.
    4. Xavier Sala-i-Martin, 1990. "Lecture Notes on Economic Growth(I): Introduction to the Literature and Neoclassical Models," NBER Working Papers 3563, National Bureau of Economic Research, Inc.
    5. Robinson, James A. & Srinivasan, T.N., 1993. "Long-term consequences of population growth: Technological change, natural resources, and the environment," Handbook of Population and Family Economics, in: M. R. Rosenzweig & Stark, O. (ed.), Handbook of Population and Family Economics, edition 1, volume 1, chapter 21, pages 1175-1298, Elsevier.
    6. Walter H. Fisher & Ben J. Heijdra, 2008. "Growth and the Ageing Joneses," CESifo Working Paper Series 2466, CESifo.
    7. Dimitrios Paparas & Christian Richter, 2015. "Fiscal policy and economic growth: Empirical evidence from the European Union," Working Papers 2015.06, International Network for Economic Research - INFER.
    8. Futagami, Koichi & Shibata, Akihisa, 1998. "Budget Deficits and Economic Growth," Public Finance = Finances publiques, , vol. 53(3-4), pages 331-354.
      • Futagami, Koichi & 二神, 孝一 & フタガミ, コウイチ & Shibata, Akihisa & 柴田, 章久 & シバタ, アキヒサ, 2003. "Budget Deficits and Economic Growth," Discussion Paper 133, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
    9. Tetsuo Ono, 2014. "Intergenerational Politics, Government Debt and Economic Growth," Discussion Papers in Economics and Business 14-23, Osaka University, Graduate School of Economics.
    10. Amer TABAKOVIĆ, 2019. "Public Spending in an OLG Economy with Endogenous Technological Change - Financing Matters -," Departmental Working Papers 2019-08, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    11. Haizhou Huang & Danyang Xie, 2008. "Fiscal Sustainability and Fiscal Soundness," Annals of Economics and Finance, Society for AEF, vol. 9(2), pages 239-251, November.
    12. Mourmouras, Iannis A. & Lee, Jong Eun, 1999. "Government spending on infrastructure in an endogenous growth model with finite horizons," Journal of Economics and Business, Elsevier, vol. 51(5), pages 395-407, September.
    13. Long, N.V. & Wong, K.Y., 1996. "Endogenous Growth and International Trade: A Survey," Working Papers 96-07, University of Washington, Department of Economics.
    14. Oukhallou, Youssef, 2016. "Analyzing economic growth: what role for public investment?," MPRA Paper 69772, University Library of Munich, Germany.
    15. Pierre-Yves Hénin & Pierre Ralle, 1993. "Les nouvelles théories de la croissance : quelques apports pour la politique économique," Revue Économique, Programme National Persée, vol. 44(1), pages 75-100.
    16. Alberto Petrucci, 2002. "Consumption Taxation and Endogenous Growth in a Model with New Generations," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 9(5), pages 553-566, September.
    17. Alogoskoufis, George & Malliaris, A.G. & Stengos, Thanasis, 2023. "The scope and methodology of economic and financial asymmetries," The Journal of Economic Asymmetries, Elsevier, vol. 27(C).
    18. Cassou, Steven P. & Lansing, Kevin J., 1998. "Optimal fiscal policy, public capital, and the productivity slowdown," Journal of Economic Dynamics and Control, Elsevier, vol. 22(6), pages 911-935, June.
    19. Kollintzas, Tryphon & Philippopoulos, Apostolis & Vassilatos, Vanghelis, 1999. "Normative Aspects of Fiscal Policy in an Economic Union: a Review," CEPR Discussion Papers 2212, C.E.P.R. Discussion Papers.
    20. Etro, Federico, 2017. "Research in economics and macroeconomics," Research in Economics, Elsevier, vol. 71(3), pages 373-383.

    More about this item

    Keywords

    CROISSANCE ECONOMIQUE; DETTE;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fth:pariem:95.11. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Thomas Krichel (email available below). General contact details of provider: https://edirc.repec.org/data/cerp1fr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.