This paper describes the empirical regularities relating fiscal policy variables, the level of development, and the rate of growth. We employ historical data, recent cross-section data and newly constructed public investment series. Our main findings are: (i) there is a strong…
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Economics · Fiscal policy · Investment (military) · Macroeconomics · Monetary economics · Politics · Law · Political science
# Fiscal policy and economic growth
> OpenAlex Metadata Hub · https://openalex.org/W2924744787
## Bibliographic
- **DOI:** 10.1016/0304-3932(93)90025-b
- **Year:** 1993
- **Citations:** 1678
- **Open Access:** Yes (hybrid)
- **License:** cc-by-nc-nd
- **Source:** https://doi.org/10.1016/0304-3932(93)90025-b
## Authors
- William Easterly
- Sérgio Rebelo
## Abstract
This paper describes the empirical regularities relating fiscal policy variables, the level of development, and the rate of growth. We employ historical data, recent cross-section data and newly constructed public investment series. Our main findings are: (i) there is a strong association between the development level and the fiscal structure: poor countries rely heavily on international trade taxes, while income taxes are only important in developed economies; (ii) fiscal policy is influenced by the scale of the economy, measured by its population; (iii) investment in transport and communication is consistently correlated with growth; (iv) the effects of taxation are difficult to isolate empirically.
## Keywords
Economics, Fiscal policy, Investment (military), Macroeconomics, Monetary economics
## Concepts
- Economics
- Fiscal policy
- Investment (military)
- Macroeconomics
- Monetary economics
- Politics
- Law
- Political science
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*Metadata only — full text not imported unless Open Access license permits.*
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Tóm lược học thuật (đã diễn giải): This paper describes the empirical regularities relating fiscal policy variables, the level of development, and the rate of growth. We employ historical data, recent cross-section data and newly constructed public investment series. Our main findings are: (i) there is a strong association between the development level and the fiscal structure: poor countries rely heavily on international trade taxes, while income taxes are only important in developed economies; (ii) fiscal policy is influenced by the scale of the economy, measured by its population; (iii) investment in transport and communication is consistently correlated with growth; (iv) the effects of taxation are difficult to isolate empirically.
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1. This paper describes the empirical regularities relating fiscal policy variables, the level of development, and the rate of growth.
2. We employ historical data, recent cross-section data and newly constructed public investment series.
3. Our main findings are: (i) there is a strong association between the development level and the fiscal structure: poor countries rely heavily on international trade taxes, while income taxes are only important in developed economies; (ii) fiscal policy is influenced by the scale of the economy, measured by its population; (iii) investment in transport and communication is consistently correlated with growth; (iv) the effects of taxation are difficult to isolate empirically.
Trader nên nối luận điểm policy/lãi suất trong tài liệu với bias trung hạn của USD và các cặp major — đặc biệt quanh FOMC / dữ liệu CPI.
Với XAUUSD: kỳ vọng cắt lãi / USD yếu thường hỗ trợ vàng; hawkish surprise thường gây áp lực giảm — dùng khung này để đọc reaction sau tin, không đoán trước.
Đọc tài liệu theo góc macro cycle: tăng trưởng / recession narrative ảnh hưởng risk-on/off và correlation giữa equities, USD và vàng.
Áp dụng vào FX: theo dõi transmission từ theory (pricing, carry, balance-sheet) sang hành vi giá trên M15–H4 sau các event thanh khoản cao.
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