Fiscal Policy

Sibabrata Das (), Alex Mourmouras () and Peter Rangazas ()
Additional contact information
Sibabrata Das: International Monetary Fund
Alex Mourmouras: International Monetary Fund
Peter Rangazas: Indiana University-Purdue University

Chapter Chapter 3 in Economic Growth and Development, 2024, pp 65-99 from Springer

Abstract: Abstract This chapter highlights the important role played by the governmentConsumptiongovernment in jump starting and sustaining economic growth. The government provides the country’s infrastructureInfrastructure or public capitalPublic capital—laws, roads, education, public health, and utilities—that secure property rights and raise the productivity of private capital. Growth in public capitalPublic capital keeps the marginal return to private capital from falling dramatically during industrialization, helping to explain G1.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-031-59728-2_3

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DOI: 10.1007/978-3-031-59728-2_3

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