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Author: William Russell Easterly
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 49
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Book Description
Author: William Russell Easterly
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 49
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Book Description
Author: William Easterly
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 54
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Book Description
The dialogue that advocates of liberalization have with policymakers would improve if more were made of the structural factors that influence the effect of reducing distortions on growth.
Author: Simon John Commander
Publisher:
ISBN:
Category :
Languages : en
Pages : 70
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Book Description
A range of factors drive size of government: relative prices, the age-dependency ratio, how long a country has been independent, relative political freedom, and openness in trade. Larger governments tend to limit growth, but that tendency can be offset by well-functioning institutions and high-quality bureaucracy. Size of government is not the only issue that matters.Using a large cross-country data set, Commander, Davoodi, and Lee examine the factors that cause governments to grow and analyze how the size of government affects growth, whether measured as income growth or other measures of well-being, such as infant mortality and life expectancy. They find no robust link between government size and per capita income. The factors they find to be important in explaining government size are relative prices, the age-dependency ratio, how long a country has been independent, relative political freedom, and openness in trade. Their results also partially support the view that governments use consumption to buffer external risk, especially in low-income countries.As for how government size affects growth, they find a robust and significant negative relationship between growth and government size, as measured by consumption. Policy distortions, predictably, also have a negative effect on growth. But the positive effects of well-functioning institutions and high quality in government bureaucracies can offset the negative influence of large government size alone.Finally, they find that social-sector spending can exert a positive influence by reducing infant mortality and raising life expectancy. Better income distribution, higher per capita income, higher per capita income growth, and more political freedom have the same positive effect on those two measures of well-being.This paper - a joint product of the Office of the Senior Vice President, Development Economics and Chief Economist, and New Products and Outreach Division, Economic Development Institute - was prepared as a background paper for World Development Report 1997 on the role of the state in a changing world.
Author: Andreas Bergh
Publisher: Rowman & Littlefield
ISBN: 0844743534
Category : Economic development
Languages : en
Pages : 82
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Book Description
As economists and policymakers strive to understand the causes of the global financial crisis, pinpointing the relationship between government size and economic growth is crucial. In this incisive economic study, Andreas Bergh and Magnus Henrekson find that in wealthy countries, where government size is measured as total taxes or total expenditure relative to GDP, there is a strong negative correlation between government size and economic growth-where government size increases by 10 percentage points, annual growth rates decrease by 0.5 to 1 percent. Bergh and Henrekson stress that statistical correlations, even when highly significant, are not law. Some countries with high taxes enjoy above-average growth, and some countries with small governments have stagnant economies. The Scandinavian welfare states, for example, have enjoyed steady growth over the last decade despite their large governments. However, these nations compensate for high taxes by employing market-friendly policies in other areas, such as trade openness and inflation control. Government Size and Economic Growth concludes that, in every case, economic freedom is a crucial determinant of economic growth_suggesting that government intervention in the marketplace may be the wrong approach to solving the economic crisis.
Author: James D. Gwartney
Publisher:
ISBN:
Category : United States
Languages : en
Pages : 33
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Book Description
Author: Jack L. Carr
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 15
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Book Description
Author: Marc Labonte
Publisher: DIANE Publishing
ISBN: 1437937128
Category : Political Science
Languages : en
Pages : 30
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Book Description
The size of gov¿t. has increased significantly since the financial crisis of 2008 as a result of the government¿s unplanned intervention in financial markets and subsequent stimulus legislation. Contents of this report: (1) How Does the Gov¿t. Affect the Economy?; (2) How Large is the Gov¿t.?; (3) Effect of the Gov¿t. on Economic Efficiency: What is a Market Failure?; Public Goods; Common Resources; Monopoly Power; Externalities; Asymmetric Information; Failure to Optimize; How Do Taxes Affect Economic Efficiency?; Balancing Economic Efficiency With Other Goals; (4) Effect of the Gov¿t. on Economic Growth: Effect of Spending, Transfers, Taxes, and Regulation. Charts and tables.
Author: Julian Wyn Lloyd Jones
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Edouard Challe
Publisher: MIT Press
ISBN: 0262549298
Category : Business & Economics
Languages : en
Pages : 361
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Book Description
The basic tools for analyzing macroeconomic fluctuations and policies, applied to concrete issues and presented within an integrated New Keynesian framework. This textbook presents the basic tools for analyzing macroeconomic fluctuations and policies and applies them to contemporary issues. It employs a unified New Keynesian framework for understanding business cycles, major crises, and macroeconomic policies, introducing students to the approach most often used in academic macroeconomic analysis and by central banks and international institutions. The book addresses such topics as how recessions and crises spread; what instruments central banks and governments have to stimulate activity when private demand is weak; and what “unconventional” macroeconomic policies might work when conventional monetary policy loses its effectiveness (as has happened in many countries in the aftermath of the Great Recession.). The text introduces the foundations of modern business cycle theory through the notions of aggregate demand and aggregate supply, and then applies the theory to the study of regular business-cycle fluctuations in output, inflation, and employment. It considers conventional monetary and fiscal policies aimed at stabilizing the business cycle, and examines unconventional macroeconomic policies, including forward guidance and quantitative easing, in situations of “liquidity trap”—deep crises in which conventional policies are either ineffective or have very different effects than in normal time. This book is the first to use the New Keynesian framework at the advanced undergraduate level, connecting undergraduate learning not only with the more advanced tools taught at the graduate level but also with the large body of policy-oriented research in academic journals. End-of-chapter problems help students master the materials presented.
Author: Theo S. Eicher
Publisher: MIT Press
ISBN: 0262550644
Category : Business & Economics
Languages : en
Pages : 343
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Book Description
Even minute increases in a country's growth rate can result in dramatic changes in living standards over just one generation. The benefits of growth, however, may not be shared equally. Some may gain less than others, and a fraction of the population may actually be disadvantaged. Recent economic research has found both positive and negative relationships between growth and inequality across nations. The questions raised by these results include: What is the impact on inequality of policies designed to foster growth? Does inequality by itself facilitate or detract from economic growth, and does it amplify or diminish policy effectiveness? This book provides a forum for economists to examine the theoretical, empirical, and policy issues involved in the relationship between growth and inequality. The aim is to develop a framework for determining the role of public policy in enhancing both growth and equality. The diverse range of topics, examined in both developed and developing countries, includes natural resources, taxation, fertility, redistribution, technological change, transition, labor markets, and education. A theme common to all the essays is the importance of education in reducing inequality and increasing growth.
