Regional growth strategies: fiscal versus institutional governmental policies
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Regional growth strategies : fiscal versus institutional governmental policies. / Ott, Ingrid; Soretz, Susanne.
Lüneburg : Institut für Volkswirtschaftslehre der Universität Lüneburg, 2006. (Working paper series in economics; Nr. 30).Publikation: Arbeits- oder Diskussionspapiere und Berichte › Arbeits- oder Diskussionspapiere
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TY - UNPB
T1 - Regional growth strategies
T2 - fiscal versus institutional governmental policies
AU - Ott, Ingrid
AU - Soretz, Susanne
N1 - Literaturverz. S. 26 - 27
PY - 2006
Y1 - 2006
N2 - This paper analyzes the growth impact of fiscal and institutional governmental policies in a regional context. The government provides a productive input that is complementary to private capital. Institutional policies include the decision about the type of public input as well as on the size of the region as determined by the number of firms. Fiscal policies decide on the extent of the public input. Private capital accumulation incurs adjustment costs that depend upon the ratio between private and public investment. After deriving the decentralized equilibrium, fiscal and institutional policies as well as their interdependencies and welfare implications are discussed. Due to the feedback effects both policies may not be determined interdependently. It is also shown that depending on the region`s size different types of the public input maximize growth.
AB - This paper analyzes the growth impact of fiscal and institutional governmental policies in a regional context. The government provides a productive input that is complementary to private capital. Institutional policies include the decision about the type of public input as well as on the size of the region as determined by the number of firms. Fiscal policies decide on the extent of the public input. Private capital accumulation incurs adjustment costs that depend upon the ratio between private and public investment. After deriving the decentralized equilibrium, fiscal and institutional policies as well as their interdependencies and welfare implications are discussed. Due to the feedback effects both policies may not be determined interdependently. It is also shown that depending on the region`s size different types of the public input maximize growth.
KW - Economics
KW - fiscal and institutional policyy
KW - regional growth
KW - adjustment costs
KW - congested public inputs
M3 - Working papers
T3 - Working paper series in economics
BT - Regional growth strategies
PB - Institut für Volkswirtschaftslehre der Universität Lüneburg
CY - Lüneburg
ER -