Abstract
The article explores the effects of public expenditures on growth among 73 countries over the 1970–89 period. While much of the literature attributes weak growth to public investment and social expenditures which inhibit growth through crowding‐out and rent‐seeking, the article highlights the contributions that public investment and social expenditures may make to growth. The article's econometric analysis suggests that crowding‐out and rent‐seeking concerns may have been overstated in the literature.
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