An Investigation of the Impact of Size of the Government on Economic Growth: Some New Evidence from OECD-NEA Countries
سال انتشار: 1395
نوع سند: مقاله ژورنالی
زبان: انگلیسی
مشاهده: 76
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شناسه ملی سند علمی:
JR_IER-20-1_004
تاریخ نمایه سازی: 21 مهر 1402
چکیده مقاله:
Abstract Achieving economic growth, as one of the essential purposes in each country, needs appropriate tracing of government as one of the important and effective sections in that economy. Nowadays, unlike the ۸۰s, economists concentrate on objectives such as explanation of the relationship between size of the government and economic growth and delineation of optimum size of the government which causes maximum level of economic growth. But, notwithstanding widespread studies had not caught the unique result about of this theme. This paper is conducted with the purpose of examining the impact of size of the government on economic growth in selected OECD-NEA countries over the period of ۱۹۹۰-۲۰۱۱ and uses the Panel Smooth Transition Regression (PSTR) model in the form of Cobb– Douglas equation function as it is applied in Dar and Amir Khalkhali (۲۰۰۲) to remove the existent problems in previous studies and offering reliable results in frame of comprehensive and integral model. The results of the study strongly reject the linearity hypothesis and estimate two regimes that give a threshold in size of the government of ۲۸.۲۷ percent to gross domestic production (GDP) for selected countries. Moreover, the impact of size of the government on economic growth is positive for both regimes. But, the intensity of it is low in high levels of size of the government. So, the results of this study express that the big govenment size is as a brake for high levels of economic growth in selected countries under investigation. Also, the impacts of investment, labor force, and export on economic growth have been evaluated as positive in two regimes of the non-linear model.
کلیدواژه ها:
Keywords: Economic Growth ، Panel Smooth Transition Regression (PSTR) Model ، Selected OECD countries ، Size of the government. JEL Classification: O۴ ، O۱ ، N۱ ، C۲۳
نویسندگان
Rana Asghari
Department of Economics, Urmia University
Hasan Heidari
Department of Economics, Urmia University
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