PRODUCTIVE GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH

Andreas Irmen () and Johanna Kuehnel

Journal of Economic Surveys, 2009, vol. 23, issue 4, pages 692-733

Abstract: We provide a comprehensive survey of the recent literature on the link between productive government expenditure and economic growth. We show that an understanding of the core results and the ensuing contributions can be gained from the study of their respective Euler equations. We argue that the existing literature incorporates many relevant aspects; however, policy recommendations tend to hinge on several knife-edge assumptions. Therefore, future research ought to focus more on idea-based endogenous growth models to check the robustness of policy recommendations. Moreover, the inclusion of hitherto unexplored types of government expenditure, e.g. on the 'rule of law', would be desirable. Copyright © 2009 Blackwell Publishing Ltd.

Date: 2009

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Related works:
Working Paper: Productive Government Expenditure and Economic Growth (2008)
Working Paper: Productive Government Expenditure and Economic Growth (2008)
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