This paper investigates how the government stabilizes economic growth from the perspective of government expenditure. We contribute a method to identify the government expenditure aimed at stabilizing growth and empirically examine it using a dataset of economic growth targets. We find that when...

type="main" xml:id="twec12193-abs-0001" <title type="main">Abstract</title> <p>This paper examines why China, in spite of its ordinary institutions, can grow so rapidly and for so long. Since each region in China has different quality of institutions and growth rates, we look into provincial and city data for this...</p>