This study identifies systematic determinants of some key budgetary aggregates in transition and OECD economies. Because of the lack of theory on public expenditure, the study is empirical. We use three approaches: regression analysis, non-parametric efficiency analysis, and construction of a...

This paper investigates the commonly held belief that government spending is normally financed through a combination of taxes and bond sales. The argument is a technical one and requires a detailed analysis of reserve accounting at the central bank. After carefully considering the complexities...

This monograph examines the growth of public spending in the UK. Using empirical evidence, evidence from theory, and the results of economic modelling, the author considers the wider economic consequences of the current high level of government spending. It is clear from the analysis that UK...