Public Investment, the Rate of Return, and Optimal Fiscal Policy

Kenneth Joseph Arrow · Mordecai Kruz

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Fiscal Policy and Economic Growth Economic Growth and Productivity Economic Policies and Impacts

Abstract

This book, co-authored by the Nobel-prized economist, Kenneth Arrow, considers public expenditures in the context of modern growth theory. It analyzes optimal growth with public capital. A theory of 'controllability' is developed and injected into public economics and growth models. Originally published in 1970

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