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Growth and the public sector: a reply
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.ORCID iD: 0000-0001-8826-0410
1999 (English)Report (Other academic)
Abstract [en]

Fölster and Henrekson (1998) claim that they, by addressing a number of econometric problems, can establish that it is likely that economies with a large public sector grow more slowly than economies with a small public sector. But their regressions are fundamentally flawed. Re-estimating their growth equation using theoretically valid instruments, we find that the growth effect of the public sector is statistically insignificant, and much smaller than the point-estimates reported by Fölster and Henrekson. This is consistent with the agnostic conclusion, drawn by us and many others, that cross-country growth regressions are unlikely to give a reliable answer to whether a large public sector is growth promoting or retarding.

Place, publisher, year, edition, pages
Uppsala: Nationalekonomiska institutionen , 1999. , 10 p.
Series
Working paper / Department of Economics, Uppsala University (Print), ISSN 0284-2904
Keyword [en]
Economics
Keyword [sv]
Nationalekonomi
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:uu:diva-2434ISBN: 99-2888921-X OAI: oai:DiVA.org:uu-2434DiVA: diva2:128695
Available from: 1999-01-01 Created: 1999-01-01 Last updated: 2013-07-09

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Ohlsson, Henry

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