Modeling of State Influence on the Processes of Economic Growth

Моделирование воздействия государства на процессы экономического роста

Shagas, Natalia (Шагас, Наталья) (), Bojechkova, A.V. (Божечкова, А.В.) (), Yury Perevyshin () and Perevyshina, E.A. (Перевышина, Е.А.) ()
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Shagas, Natalia (Шагас, Наталья): Russian Presidential Academy of National Economy and Public Administration (RANEPA)
Bojechkova, A.V. (Божечкова, А.В.): Gaidar Institute for Economic Policy
Perevyshina, E.A. (Перевышина, Е.А.): Russian Presidential Academy of National Economy and Public Administration (RANEPA)
Authors registered in the RePEc Author Service: Alexandra Bozhechkova

Working Papers from Russian Presidential Academy of National Economy and Public Administration

Abstract: This paper is devoted to the multidimensional analysis of the effects of public sector on the economic growth. We estimate a threshold share of government consumption and government expenditure, which maximizes economic growth in the group of countries, including Russia. This paper answers the question about the impact of total public expenditure, as well as their individual components on total factor productivity in developing countries. It was found that government expenditure on defense and education influence on the total factor productivity growth is positive. We identify threshold values of the financial sector development level, beyond which there is change in the relationship between financial sector development and economic growth. Public expenditure growth has negative impact on the financial sector threshold development level in the long term. We find that, if the inflation exceeds 6%, then further increase in the growth rate of consumer prices reduces the growth rate of GDP per capita.

Keywords: multidimensional analysis; public sector; economic growth (search for similar items in EconPapers)
Pages: 88 pages
Date: 2016-03-21
New Economics Papers: this item is included in nep-cis, nep-fdg and nep-tra
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