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Public Capital Expenditure in OECD Countries - The Causes and Impact of the Decline in Public Capital Spending (Hardcover, illustrated edition)
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Public Capital Expenditure in OECD Countries - The Causes and Impact of the Decline in Public Capital Spending (Hardcover, illustrated edition)
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This important book investigates the causes of the decline in
public capital spending which has occurred in most OECD countries
over the past 25 years, and estimates the macroeconomic
consequences of this decline. Governments can improve the future
living conditions of their citizens in various ways including
stimulating private investment, increasing spending on education
and health programmes, preserving the environment and adding to the
stock of public capital. In Public Capital Spending in OECD
Countries the author focuses on government investment in physical
capital within a macroeconomic context. He examines the
consequences of the decline in public investment on physical assets
such as infrastructure and the environment. The past few years have
witnessed a growing awareness that especially the stock of public
capital has been neglected by many OECD governments. Such a
reduction in public investment may lead to a decline in economic
growth, and therefore it is vital that the fall in government
spending is rigorously examined. Key features include:- * a
detailed and comprehensive review of existing literature. *
original empirical investigations using alternative techniques and
different datasets. * possible explanations for the trends in
public capital spending. * estimates of the effect of public
capital spending on economic growth.
General
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