Policy recommendations to reduce the growth of public spending are haunted by the inevitability of two factors. First Wagner's law, the hypothesis that with economic development an increasing share of GDP is devoted to public spending, and secondly, Baumol's effect, that as economies develop, public sector prices rise faster than prices in the general economy. Neither of these hypotheses has adequately been tested, largely because consistent public...
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INFORMATION
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1990/05/31
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Document de travail de recherche sur les politiques
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WPS423
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1
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1
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2010/07/01
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Disclosed
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Relative price changes and the growth of the public sector
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government expenditure
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