Öffentliche Investitionen werden im Gegensatz zu öffentlichem Konsum häufig als wachstumsfördernd angesehen. Ausgaben für "immaterielle" Güter wie etwa Bildung werden jedoch nicht als Investitionen angesehen, obwohl diese potenziell wachstumswirksam sind. Gleichzeitig werden auch Ausgaben...

This paper develops an endogenous growth model of the influence of public investment, public transfers, and distortionary taxation on the rate of economic growth. The growth-enhancing effects of investment in public capital and transfer payments are modeled, as is the growth-inhibiting influence...

The effect of public investment on economic growth is a crucial public policy issue. Empirical research into this question was stimulated by Aschauer (1989), who suggested that public capital has a powerful impact on the productivity of private capital.Aschauer's results were controversial and...

This paper employs an endogenous growth model to study the growth and welfare effects of the golden rule of public finance. Two versions are compared, whereby government deficits are restricted for the use of public investments. It is shown that the growth effect of the golden rule depends on...