This paper analyzes the structural relationship between policies that distort resource allocation and long-term growth. It briefly reviews the Solow model in which steady-state growth depends only on exogenous technological change, but finds it unsatisfactory as a model of long-term growth. The author proposes an increasing-returns model in the spirit of the new literature on economic growth. With increasing returns, endogenous economic variables...
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详细
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1989/12/31
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政策研究报告
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WPS344
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1
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1
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2010/07/01
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Policy distortions, size of government, and growth
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tax revenue