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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)In: European Journal of Political Economy, ISSN 0176-2680, E-ISSN 1873-5703, Vol. 15, no 2, 359-366 p.Article in journal (Refereed) Published
Abstract [en]

Fölster and Henrekson [Fölster, S., Henrekson, M., 1999. Growth and the public sector: A critique of the critics. European Journal of Political Economy 15, 337–358] claim that, by addressing a number of econometric problems, they 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 that they report. This is consistent with the agnostic conclusion, drawn by us and others, that cross-country growth regressions are unlikely to provide a reliable answer as to whether a large public sector is growth promoting or retarding.

Place, publisher, year, edition, pages
1999. Vol. 15, no 2, 359-366 p.
Keyword [en]
economic growth, public sector, cross-country regressions
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:uu:diva-29036DOI: 10.1016/S0176-2680(99)00011-7OAI: oai:DiVA.org:uu-29036DiVA: diva2:56932
Available from: 2008-10-17 Created: 2008-10-17 Last updated: 2017-12-07

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Ohlsson, Henry

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