Productive government expenditures and long-run growth

Gerhard Glomm, B. Ravikumar

Research output: Contribution to journalArticle

206 Citations (Scopus)

Abstract

The purpose of this paper is to review some of the recent developments in endogenous growth models. Specifically, our focus is on the growth effects of productive government spending in dynamic general equilibrium models. We use a simple overlapping generations model as our basic framework and illustrate the role of taxes and spending. We then examine several related issues: nonrivalry in publicly provided goods, existence and uniqueness of competitive equilibrium, endogenous public policy, ways of financing public expenditures, composition of publicly provided goods and services, and private alternatives. Finally, we review some empirical results related to output elasticity of public capital and educational expenditures.

Original languageEnglish (US)
Pages (from-to)183-204
Number of pages22
JournalJournal of Economic Dynamics and Control
Volume21
Issue number1
StatePublished - Jan 1997
Externally publishedYes

Fingerprint

Long-run
Endogenous Growth
Overlapping Generations
Competitive Equilibrium
Public Policy
General Equilibrium
Equilibrium Model
Tax
Growth Model
Elasticity
Existence and Uniqueness
Taxation
Output
Alternatives
Chemical analysis
Government
Review
Long-run growth
Government expenditure
Model

Keywords

  • Endogenous growth
  • Government spending
  • Infrastructure
  • Public education

ASJC Scopus subject areas

  • Economics and Econometrics
  • Control and Optimization

Cite this

Productive government expenditures and long-run growth. / Glomm, Gerhard; Ravikumar, B.

In: Journal of Economic Dynamics and Control, Vol. 21, No. 1, 01.1997, p. 183-204.

Research output: Contribution to journalArticle

Glomm, G & Ravikumar, B 1997, 'Productive government expenditures and long-run growth', Journal of Economic Dynamics and Control, vol. 21, no. 1, pp. 183-204.
Glomm, Gerhard ; Ravikumar, B. / Productive government expenditures and long-run growth. In: Journal of Economic Dynamics and Control. 1997 ; Vol. 21, No. 1. pp. 183-204.
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