Public Finance, Economic Growth and Inequality: A Survey of the Evidence
This paper reviews the key issues concerning the impact of public spending and taxation on long-run growth and inequality and takes stock of existing theoretical and empirical studies. Overall, the evidence highlights that the size of the government matters for long-term growth as a too large govern...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2016
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| Schriftenreihe: | OECD Economics Department Working Papers
no.1346 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper reviews the key issues concerning the impact of public spending and taxation on long-run growth and inequality and takes stock of existing theoretical and empirical studies. Overall, the evidence highlights that the size of the government matters for long-term growth as a too large government may undermine growth through the cost of financing public spending. A reallocation of public spending towards infrastructure and education would raise income in the long run, whereas increasing social welfare spending can reduce inequality as such spending increases redistribution and risk sharing. Similarly, the available evidence also supports the hypothesis that some taxes are more distortionary than others, with income taxes found to be more harmful for growth than consumption and property taxes. However, a tax shift from income towards consumption taxes has equity implications, since income taxes are generally more progressive than other taxes. The effect of a reallocation of spending and taxes on growth and inequality likely varies across countries depending on country characteristics. |
| Beschreibung: | 1 Online-Ressource (36 p.) |
| DOI: | 10.1787/094bdaa5-en |
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| spelling | Johansson, Åsa VerfasserIn aut Public Finance, Economic Growth and Inequality A Survey of the Evidence Åsa, Johansson = Finances publiques, croissance économique et inégalités : Une revue de littérature / Åsa, Johansson Finances publiques, croissance économique et inégalités Paris OECD Publishing 2016 1 Online-Ressource (36 p.) Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.1346 This paper reviews the key issues concerning the impact of public spending and taxation on long-run growth and inequality and takes stock of existing theoretical and empirical studies. Overall, the evidence highlights that the size of the government matters for long-term growth as a too large government may undermine growth through the cost of financing public spending. A reallocation of public spending towards infrastructure and education would raise income in the long run, whereas increasing social welfare spending can reduce inequality as such spending increases redistribution and risk sharing. Similarly, the available evidence also supports the hypothesis that some taxes are more distortionary than others, with income taxes found to be more harmful for growth than consumption and property taxes. However, a tax shift from income towards consumption taxes has equity implications, since income taxes are generally more progressive than other taxes. The effect of a reallocation of spending and taxes on growth and inequality likely varies across countries depending on country characteristics. Economics FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/094bdaa5-en Volltext |
| spellingShingle | Johansson, Åsa Public Finance, Economic Growth and Inequality A Survey of the Evidence Economics |
| title | Public Finance, Economic Growth and Inequality A Survey of the Evidence |
| title_alt | Finances publiques, croissance économique et inégalités |
| title_auth | Public Finance, Economic Growth and Inequality A Survey of the Evidence |
| title_exact_search | Public Finance, Economic Growth and Inequality A Survey of the Evidence |
| title_full | Public Finance, Economic Growth and Inequality A Survey of the Evidence Åsa, Johansson = Finances publiques, croissance économique et inégalités : Une revue de littérature / Åsa, Johansson |
| title_fullStr | Public Finance, Economic Growth and Inequality A Survey of the Evidence Åsa, Johansson = Finances publiques, croissance économique et inégalités : Une revue de littérature / Åsa, Johansson |
| title_full_unstemmed | Public Finance, Economic Growth and Inequality A Survey of the Evidence Åsa, Johansson = Finances publiques, croissance économique et inégalités : Une revue de littérature / Åsa, Johansson |
| title_short | Public Finance, Economic Growth and Inequality |
| title_sort | public finance economic growth and inequality a survey of the evidence |
| title_sub | A Survey of the Evidence |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/094bdaa5-en |
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