To date, government procurement has been effectively carved out of the main multilateral rules of the WTO system. This paper examines the systemic and other ramifications of this exclusion, from both an economic and a legal point of view. In addition to relevant elements of the WTO Agreements,...

Kamu sektörünün ekonomideki payı, yirminci yüzyılın başlarından itibaren bazı nedenlerle (gerçek ve görünür) artış göstermektedir. Özellikle döneme hakim olan Keynezyen İktisat düşüncesi ile kamu sektörünün ekonomideki gücü, belirgin şekilde artmıştır. Kamu...

We examine the causal impact of public-sector spending on corporate investment. Making use of population count revisions in census years as exogenous shocks to the cross-sectional allocation of federal funds, we find that increases in federal spending reduce firms' investment, R&D spending,...

We show that the extent to which government spending hinders private sector innovation is highly dependent on a firm's revenue sensitivity to consumer demand. The effects are stronger for firms that are more dependent on internal financing to fund innovative activity such as firms with high...

We provide evidence that managerial incentives to manipulate real activities can influence the effectiveness of fiscal policy. Increases in federal spending lead government-dependent firms to expand R&D investment whereas industry-peer firms contract. The net result is a reduction in...

This paper integrates data envelopment analysis (DEA) and artificial neural networks (ANN) to forecast the role of public expenditure in economic growth in OCDE countries. The results show that this approach is a powerful and appropriate method to forecast this role. DEA method allows us to...

The aging of the American population will be a critical public policy issue in the years ahead. This paper surveys the recent literature on the economics of aging, with a special emphasis on government spending on the aged. The U.S. Census Bureau projects that the proportion of the elderly in...

This paper provides empirical evidence showing that smaller countries tend to have more volatile government spending for a sample of 160 countries from 1960 to 2000. We argue that the larger size of a country decreases the volatility of government spending because it acts as an insurance against...