Pure Public Goods Model and the Optimal Size of China's Fiscal Expenditure: 1978-2006 |
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| Journal | Applied Mechanics and Materials (Volumes 26 - 28) |
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| Volume | Advanced Mechanical Engineering |
| Edited by | Zhenyu Du and Bin Liu |
| Pages | 14-19 |
| DOI | 10.4028/www.scientific.net/AMM.26-28.14 |
| Citation | Qun Li Wu, 2010, Applied Mechanics and Materials, 26-28, 14 |
| Online since | June, 2010 |
| Authors | Qun Li Wu |
| Keywords | Fiscal Expenditure, Optimal Size, Pure Public Goods Model |
| Abstract | From the perspective of maximizing the economic growth rate, this paper examined the optimal size of China’s fiscal expenditure with theoretical and empirical methods. First, the paper established a Pure Public Goods Model, based on which it further estimated that during the period of 1978-2006, China’s optimal size of fiscal expenditure is about 21.82-27.28 percent of GDP. Judging by this optimal criterion, it finally divided China's policy development into three stages: (1) the higher-size stage (1978-1992); (2) the lower-size stage (1993-1999); (3) the optimal-size stage (2000-2006) |
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