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| Author: | Varvarigos, D. |
| Title: | Policy variability, productive spending and growth |
| Journal: | Economica
2007 : MAY, VOL. 74:294, p. 299-313 |
| Index terms: | public finance investments human capital education models |
| Language: | eng |
| Abstract: | This paper presents two models with policy variability arising from randomness in the provision of productive public spending. It is found 1. that the relationship btw. policy variability (here as: pol-var.) and growth depends critically on the technological parameters of the production function, and 2. that pol-var. delays growth as individuals respond to increased uncertainty by actually reducing rather than increasing their investment in human capital. |
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