This article reviews previous empirical analyses of the relation between economic growth and volatility for regional and state economies. Gross state product data are used to document the extent to which slower overall growth and deindustrialization occurred during the past three decades in the...

This article provides new evidence concerning the effect on private investment of allocating resources to public consumption and investment. An autoregressive distributed lag model developed for cointegration-error correction analysis is estimated using data for the U.S. public sector for...