The Role of the State in the Quality and Sustainability of Growth: A New Development Framework

Posted: 28 Feb 2008

See all articles by Gregmar I. Galinato

Gregmar I. Galinato

Washington State University - School of Economic Sciences

Ramón López

University of Maryland - Department of Agricultural & Resource Economics

Date Written: September 27, 2007

Abstract

This essay explains the emergence of government failure within an economy and links this type of government failure with market failure. The current framework used to analyze the link between fiscal policy choice and sustainable growth patterns is incomplete in at least two ways. First, previous studies have disregarded certain essential interactions between fiscal policy choice, government and market failures, and long run growth. Second, the consequences of the reaction of society to fiscal policies and the subsequent government response to these social reactions for economic development have not been fully analyzed.

Keywords: Quality of Growth, Fiscal Policy, Sustainable Growth

JEL Classification: H5, E6

Suggested Citation

Galinato, Gregmar I. and López, Ramón, The Role of the State in the Quality and Sustainability of Growth: A New Development Framework (September 27, 2007). Available at SSRN: https://ssrn.com/abstract=1098454

Gregmar I. Galinato (Contact Author)

Washington State University - School of Economic Sciences ( email )

Pullman, WA 99164
United States

Ramón López

University of Maryland - Department of Agricultural & Resource Economics ( email )

Symmons Hall, Rm 2200
University of Maryland
College Park, MD 20742-5535
United States
301-405-1281 (Phone)
301-405-9091 (Fax)

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