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Government Expenditure and Economic Growth [electronic resource] : An Empirical Investigation.

By: International Monetary Fund.
Material type: materialTypeLabelBookSeries: IMF Working Papers; Working Paper: No. 89/45Publisher: Washington, D.C. : International Monetary Fund, 1989Description: 1 online resource (30 p.).ISBN: 1451974159 :.ISSN: 1018-5941.Subject(s): Capital Expenditure | Economic Growth | Expenditure | Expenditures | Growth Rate | Botswana | Cameroon | El Salvador | Iran, Islamic Republic of | Sri LankaAdditional physical formats: Print Version:: Government Expenditure and Economic Growth : An Empirical InvestigationOnline resources: IMF e-Library | IMF Book Store Abstract: This paper examines the empirical evidence on the contribution that government and, in particular, capital expenditure make to the growth performance of a sample of developing countries. Using the Denison growth accounting approach, this study finds that social expenditures may have a significant impact on growth in the short run, but infrastructure expenditures may have little influence. While current expenditures for directly productive purposes may exert a positive influence, capital expenditure in these sectors appears to exert a negative influence. Experiments with other explanatory variables confirm the importance of the growth of exports to the overall growth rate.
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This paper examines the empirical evidence on the contribution that government and, in particular, capital expenditure make to the growth performance of a sample of developing countries. Using the Denison growth accounting approach, this study finds that social expenditures may have a significant impact on growth in the short run, but infrastructure expenditures may have little influence. While current expenditures for directly productive purposes may exert a positive influence, capital expenditure in these sectors appears to exert a negative influence. Experiments with other explanatory variables confirm the importance of the growth of exports to the overall growth rate.

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