Policy distortions, size of government, and growth (English)

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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Citation

Easterly,William R..

Policy distortions, size of government, and growth (English). Policy, Planning and Research Department working papers ; no. WPS 344 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/915801468740102281

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