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Fiscal Policy and Economic Development

Fiscal Policy and Economic Development by Alex Mourmouras
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This paper offers possible explanations for three generally observed facts about fiscal policy and development: (F1) The relative size of government increases as an economy develops, (F2) The rise in government and taxation are associated with rising or constant economic growth rates, and (F3) Today's developing countries have larger government sectors than did today's developed countries at similar stages of development. The explanations for these facts are based on the structural transformation from traditional (mostly agricultural) to modern (industrial and post-industrial) production, rising public infrastructure investment, and less representative governments in many of today's developing economies.
International Monetary Fund; June 2008
33 pages; ISBN 9781452759173
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Title: Fiscal Policy and Economic Development
Author: Alex Mourmouras; Peter Rangazas