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Fiscal Policy and Long-Run Growth
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TL;DR: The authors discusses the relationship between the growth of countries' economies and various public finance instruments, such as tax policy, expenditure policy, and overall budgetary policy, from the perspectives of allocative efficiency, macroeconomic stability, and income distribution.
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Abstract: This paper discusses in a systematic and comprehensive way the existing literature on the relationship between the growth of countries` economies and various public finance instruments, such as tax policy, expenditure policy, and overall budgetary policy, from the perspectives of allocative efficiency, macroeconomic stability, and income distribution. It reviews both the conceptual linkages between each of the instruments and growth and the empirical evidence on such relationships. It broadly concludes that fiscal policy could play a fundamental role in affecting the long-run growth performance of countries.
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Citations
The Impact of Public Spending on Poverty through the Channel of Social Infrastructure: An Empirical Analysis of Asian Economies
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Fiscal Policy Reforms in a Global Economy
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Are government transfers harmful to economic growth? A meta-analysis ☆
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Optimal Government Size and Economic Growth in France (1871-2008): An Explanation by the State and Market Failures 1
François Facchini,Mickael Melki +1 more
TL;DR: In this paper, the effect of public expenditure on economic growth from both a theoretical and an empirical point of view is analyzed, and a framework combining both theories of market failures and state failures is proposed to account for an inverted U-shaped relation between government size and GDP growth.
Taxation and the Household Saving Rate : Evidence from OECD Countries
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TL;DR: This article analyzed the relationship between taxation and the household saving rate and found that income taxes affect negatively the saving rate much more than consumption taxes, and provided compelling and robust empirical evidence of a powerful impact of taxes on household savings.
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