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Finance and income inequality : test of alternative theories (English)

Although theoretical models make distinct predictions about the relationship between financial sector development and income inequality, little empirical research has been conducted to compare their relative explanatory power. ... See More +

Policy Research Working Paper WPS2984 MAR 31, 2003

Clarke, George; Xu, Lixin Colin; Zou, Heng-fu

Fiscal decentralization, public spending, and economic growth in China (English)

The authors of this report use data on China to demonstrate how the allocation of fiscal revenue and expenditures between central and local governments has affected economic growth since reforms that began in the late 1970s. ... See More +

Policy Research Working Paper WPS1608 MAY 31, 1996

Tao Zhang; Heng-fu Zou

Foreign technology imports and economic growth in developing countries (English)

The authors investigate the relationship between foreign technology imports and economic growth in developing countries. They develop an intertemporal endogenous growth model that explicitly accepts foreign technology imports as a factor of production. ... See More +

Policy Research Working Paper WPS1412 JAN 31, 1995

Xiaoming Zhang; Heng-fu Zou

Intergovernmental fiscal relations in Indonesia : issues and reform options (English)

The paper describes and assesses intergovernmental fiscal relations in Indonesia and outlines options for reform. The discussion encompasses issues in all major aspects of fiscal relations between the national and subnational governments: expenditure assignment; tax assignment; intergovernmental transfers; reform of subnational taxes and user charges; subnational government borrowing; the framework for planning, budgeting and implementation; and development of subnational government institutional capacities. ... See More +

Publication WDP239 OCT 31, 1994

Shah, Anwar; Qureshi, Zia; Bagchi, Amaresh; Binder, Brian; Heng-fu Zou

What do governments buy? The composition of public spending and economic performance (English)

The authors develop a simple analytical framework that shows how the composition of public spending affects economic growth. Distinguishing between productive and unproductive government spending (that which complements private sector productivity and that which does not), they show that increasing the share of productive spending leads to a higher steady-state economic growth rate. ... See More +

Policy Research Working Paper WPS1082 FEB 28, 1993

Devarajan, Shantayanan; Swaroop, Vinaya; Heng-fu Zou

Socialist economic growth and political investment cycles (English)

Socialist economic growth in China and Eastern Europe has long been characterized by investment hunger, drives toward expansion, and cyclical fluctuation of investment rates. ... See More +

Policy Research Working Paper WPS615 MAR 31, 1991

Zou, Heng-fu

The spirit of capitalism and long-run growth (English)

Why do different countries have different long-term savings and growth rates? Why is the productivity rate not the same around the world? Recent new theories of endogenous growth have tried to answer these questions by replacing the usual assumption of diminishing returns in production. ... See More +

Policy Research Working Paper WPS630 MAR 31, 1991

Heng-fu Zou