Publication: A further generalization of the Solow growth model: the role of the public sector
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Date
1999
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Acceso abierto / Sarbide irekia
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Abstract
We develop in this paper an augmented version of the Solow (1956) growth model, including the role of government. The model leads to a non-monotonic relationship between the rate of growth of per capita output and government size, generalizing previous results by Barro (1990) to the case in which returns to scale to private factors are not constant.
Description
Keywords
Economic growth, Neoclassical and augmented growth models, Public capital, Transfers, Fiscal policy
Department
Economía / Ekonomia
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