Determinants of Government Spending, Its Impact on Public Welfare, and The Role Of Economic Growth: A Literature Review
DOI:
https://doi.org/10.62872/v8kxkn86Keywords:
Economic Growth, Government Expenditure, Human Development, Literature Review, Public WelfareAbstract
This study delves into the multifaceted factors that influence government expenditure and its subsequent effects on public welfare, with a particular focus on its impact on economic growth. Government spending plays a pivotal role in shaping economic development, enhancing public welfare, and alleviating poverty. By conducting a systematic literature review, this research methodically evaluates a range of pertinent sources to gain a comprehensive understanding of these dynamics. The findings indicate that strategic government expenditure, particularly in areas such as infrastructure, education, and technology, is instrumental in driving economic growth and improving public welfare outcomes. Investment in infrastructure not only facilitates more efficient business operations but also creates jobs and improves living standards. Similarly, funding education ensures a more skilled workforce, which can foster innovation and productivity. Investments in technology can lead to advancements that spur economic development and enhance quality of life. However, the study also emphasizes that the effectiveness and optimal allocation of government spending are critical factors in realizing these benefits. Effective expenditure strategies, therefore, must be well-planned and targeted. The insights derived from this study provide valuable guidance for policymakers in crafting expenditure strategies that aim to achieve sustainable development and long-term economic stability.
Downloads
References
Aghion, P., Caroli, E., & García-Peñalosa, C. (1999). Inequality and economic growth: The perspective of the new growth theories. In Journal of Economic Literature (Vol. 37, Issue 4, pp. 1615–1660). https://doi.org/10.1257/jel.37.4.1615
Agu, S. U., Okwo, I. M., Ugwunta, O. D., & Idike, A. (2015). Fiscal Policy and Economic Growth in Nigeria: Emphasis on Various Components of Public Expenditure. SAGE Open, 5(4). https://doi.org/10.1177/2158244015610171
Ahmed, Z., Asghar, M. M., Malik, M. N., & Nawaz, K. (2020). Moving towards a sustainable environment: The dynamic linkage between natural resources, human capital, urbanization, economic growth, and ecological footprint in China. Resources Policy, 67. https://doi.org/10.1016/j.resourpol.2020.101677
Aidt, T., Dutta, J., & Sena, V. (2008). Governance regimes, corruption and growth: Theory and evidence. Journal of Comparative Economics, 36(2), 195–220. https://doi.org/10.1016/j.jce.2007.11.004
Amendola, M., Gaffard, J. L., & Patriarca, F. (2017). Inequality and growth: the perverse relation between the productive and the non-productive assets of the economy. Journal of Evolutionary Economics, 27(3), 531–554. https://doi.org/10.1007/s00191-017-0494-8
Amendola, N., Gabbuti, G., & Vecchi, G. (2023). On some problems of using the Human Development Index in economic history. European Review of Economic History, 27(4), 477–505. https://doi.org/10.1093/ereh/head008
Amusa, K., & Oyinlola, M. A. (2019). The effectiveness of government expenditure on economic growth in Botswana. African Journal of Economic and Management Studies, 10(3), 368–384. https://doi.org/10.1108/AJEMS-03-2018-0081
Anand, S., & Ravallion, M. (1993). Human Development in Poor Countries: On the Role of Private Incomes and Public Services. Journal of Economic Perspectives, 7(1), 133–150. https://doi.org/10.1257/jep.7.1.133
Ang, J. B. (2008). What are the mechanisms linking financial development and economic growth in Malaysia? Economic Modelling, 25(1), 38–53. https://doi.org/10.1016/j.econmod.2007.04.006
Ansari, M. I., Gordon, D. V., & Akuamoah, C. (1997). Keynes versus Wagner: Public expenditure and national income for three African countries. Applied Economics, 29(4), 543–550. https://doi.org/10.1080/000368497327038
Asamoah, M. E., Adjasi, C. K. D., & Alhassan, A. L. (2016). Macroeconomic uncertainty, foreign direct investment and institutional quality: Evidence from Sub-Saharan Africa. Economic Systems, 40(4), 612–621. https://doi.org/10.1016/j.ecosys.2016.02.010
Aschauer, D. A. (1989). Is public expenditure productive? Journal of Monetary Economics, 23(2), 177–200. https://doi.org/10.1016/0304-3932(89)90047-0
Aschauer, D. A., & Greenwood, J. (1985). Macroeconomic effects of fiscal policy. Carnegie-Rochester Confer. Series on Public Policy, 23(C), 91–138. https://doi.org/10.1016/0167-2231(85)90007-7
Attari, M. I. J., & Javed, A. Y. (2013). Inflation, Economic Growth and Government Expenditure of Pakistan: 1980-2010. Procedia Economics and Finance, 5, 58–67. https://doi.org/10.1016/s2212-5671(13)00010-5
Awdeh, A., & Hamadi, H. (2019). Factors hindering economic development: evidence from the MENA countries. International Journal of Emerging Markets, 14(2), 281–299. https://doi.org/10.1108/IJoEM-12-2017-0555
Babatunde, S. A. (2018). Government spending on infrastructure and economic growth in Nigeria. Economic Research-Ekonomska Istrazivanja , 31(1), 997–1014. https://doi.org/10.1080/1331677X.2018.1436453
Badrudin, R., & Kuncorojati, I. (2017). the Effect of District Own-Source Revenue and Balance Funds on Public Welfare By Capital Expenditure and Economic Growth As an Intervening Variable in Special District of Yogyakarta. Jurnal Manajemen Dan Kewirausahaan, 19(1). https://doi.org/10.9744/jmk.19.1.54-59
Badrudin, R., Kusuma, M. W., & Wardani, R. Y. (2018). The inclusive economic development model in Sulawesi island. Economic Journal of Emerging Markets, 10(2), 128–136. https://doi.org/10.20885/ejem.vol10.iss2.art2
Baldacci, E., Clements, B., Gupta, S., & Cui, Q. (2008). Social Spending, Human Capital, and Growth in Developing Countries. World Development, 36(8), 1317–1341. https://doi.org/10.1016/j.worlddev.2007.08.003
Barra, C., Ruggiero, N., & Zotti, R. (2020). Short- and long-term relation between economic development and government spending: the role of quality of institutions. Applied Economics, 52(9), 987–1009. https://doi.org/10.1080/00036846.2019.1646884
Barro, R. J. (1990). Government Spending in a Simple Model of Endogeneous Growth. Journal of Political Economy, 98(5, Part 2), S103–S125. https://doi.org/10.1086/261726
Battaglini, M., & Coate, S. (2008). A dynamic theory of public spending, taxation, and debt. American Economic Review, 98(1), 201–236. https://doi.org/10.1257/aer.98.1.201
Black, S. E., & Lynch, L. M. (1996). Human-Capital Investments and Productivity. American Economic Review, 86(2), 263–267.
Borcherding, T. E. (1985). The causes of government expenditure growth: A survey of the U.S. evidence. Journal of Public Economics, 28(3), 359–382. https://doi.org/10.1016/0047-2727(85)90065-9
Bose, N., Haque, M. E., & Osborn, D. R. (2007). Public expenditure and economic growth: A disaggregated analysis for developing countries. Manchester School, 75(5), 533–556. https://doi.org/10.1111/j.1467-9957.2007.01028.x
Bradley, S., & Taylor, J. (1996). Human capital formation and local economic performance. Regional Studies, 30(1), 1–14. https://doi.org/10.1080/00343409612331349438
Calderón, C., Duncan, R., & Schmidt-Hebbel, K. (2016). Do Good Institutions Promote Countercyclical Macroeconomic Policies? Oxford Bulletin of Economics and Statistics, 78(5), 650–670. https://doi.org/10.1111/obes.12132
Chakraborty, A., Ghosh, S., Mukhopadhyay, P., Dinara, S. M., Bag, A., Mahata, M. K., Kumar, R., Das, S., Sanjay, J., Majumdar, S., & Biswas, D. (2014). Trapping effect analysis of AlGaN/InGaN/GaN Heterostructure by conductance frequency measurement. MRS Proceedings, XXXIII(2), 81–87. https://doi.org/10.1007/s13398-014-0173-7.2
Chen, B. L. (2006). Economic growth with an optimal public spending composition. Oxford Economic Papers, 58(1), 123–136. https://doi.org/10.1093/oep/gpi045
Chen, Z., Lv, B., & Liu, Y. (2019). Financial development and the composition of government expenditure: Theory and cross-country evidence. International Review of Economics and Finance, 64, 600–611. https://doi.org/10.1016/j.iref.2019.09.006
Chu, T. T., Hölscher, J., & McCarthy, D. (2020). The impact of productive and non-productive government expenditure on economic growth: an empirical analysis in high-income versus low- to middle-income economies. Empirical Economics, 58(5), 2403–2430. https://doi.org/10.1007/s00181-018-1616-3
Cooray, A. (2009). Government expenditure, governance and economic growth. Comparative Economic Studies, 51(3), 401–418. https://doi.org/10.1057/ces.2009.7
d’Agostino, G., Dunne, J. P., & Pieroni, L. (2016). Government Spending, Corruption and Economic Growth. World Development, 84, 190–205. https://doi.org/10.1016/j.worlddev.2016.03.011
Devarajan, S., Swaroop, V., & Zou, H. F. (1996). The composition of public expenditure and economic growth. Journal of Monetary Economics, 37(2), 313–344. https://doi.org/10.1016/S0304-3932(96)90039-2
Dudzevičiūtė, G., Šimelytė, A., & Liučvaitienė, A. (2018). Government expenditure and economic growth in the European Union countries. International Journal of Social Economics, 45(2), 372–386. https://doi.org/10.1108/IJSE-12-2016-0365
Dutt, A. K. (2013). Government spending, aggregate demand, and economic growth. Review of Keynesian Economics, 1(1), 105–119. https://doi.org/10.4337/roke.2013.01.06
Easterly, W., & Rebelo, S. (1993). Fiscal policy and economic growth. Journal of Monetary Economics, 32(3), 417–458. https://doi.org/10.1016/0304-3932(93)90025-B
Fan, S., Jitsuchon, S., & Methakunnavut, N. (2004). THE IMPORTANCE OF PUBLIC INVESTMENT FOR REDUCING RURAL POVERTY IN MIDDLE-INCOME COUNTRIES : THE CASE OF THAILAND Shenggen Fan Somchai Jitsuchon Nuntaporn Methakunnavut. DSGD DISCUSSION PAPER NO . 7 International Food Policy Research Institute (IFPRI), 7. http://www.ifpri.org/publication/importance-public-investment-reducing-rural-poverty-middle-income-countries
Fan, S., & Zhang, X. (2008). Public expenditure, growth and poverty reduction in rural Uganda. African Development Review, 20(3), 466–496. https://doi.org/10.1111/j.1467-8268.2008.00194.x
Fleisher, B., Li, H., & Zhao, M. Q. (2010). Human capital, economic growth, and regional inequality in China. Journal of Development Economics, 92(2), 215–231. https://doi.org/10.1016/j.jdeveco.2009.01.010
Fölster, S., & Henrekson, M. (2001). Growth effects of government expenditure and taxation in rich countries. European Economic Review, 45(8), 1501–1520. https://doi.org/10.1016/S0014-2921(00)00083-0
Galor, O., & Tsiddon, D. (1997). The Distribution of Human Capital and Economic Growth. Journal of Economic Growth, 2(1), 93–124. https://doi.org/10.1023/A:1009785714248
Garrett, G. (2001). Globalization and government spending around the world. Studies in Comparative International Development, 35(4), 3–29. https://doi.org/10.1007/BF02732706
George-Anokwuru, C. C., & Ekpenyong, B. I. (2020). Government Expenditure and Inflation in Nigeria. Journal of Economics and Management Sciences, 3(2), p29. https://doi.org/10.30560/jems.v3n2p29
Ginting, A. M., Hamzah, M. Z., & Sofilda, E. (2019). The impact of fiscal decentralization on economic growth in Indonesia. Economic Journal of Emerging Markets, 11(2), 152–160. https://doi.org/10.20885/ejem.vol11.iss2.art3
Glomm, G., & Ravikumar, B. (1997). Productive government expenditures and long-run growth. Journal of Economic Dynamics and Control, 21(1), 183–204. https://doi.org/10.1016/0165-1889(95)00929-9
Gnangoin, Y. T. B., Du, L., Assamoi, G. R., Edjoukou, A. J. R., & Kassi, D. F. (2019). Public spending, income inequality and economic growth in Asian countries: A panel GMM approach. Economies, 7(4). https://doi.org/10.3390/economies7040115
Grier, K. B., & Tullock, G. (1989). An empirical analysis of cross-national economic growth, 1951-1980. Journal of Monetary Economics, 24(2), 259–276. https://doi.org/10.1016/0304-3932(89)90006-8
Gupta, S., Verhoeven, M., & Tiongson, E. R. (2002). The effectiveness of government spending on education and health care in developing and transition economies. European Journal of Political Economy, 18(4), 717–737. https://doi.org/10.1016/S0176-2680(02)00116-7
Hatch, N. W., & Dyer, J. H. (2004). Human capital and learning as a source of sustainable competitive advantage. Strategic Management Journal, 25(12), 1155–1178. https://doi.org/10.1002/smj.421
Hauner, D., & Kyobe, A. (2010). Determinants of government efficiency. World Development, 38(11), 1527–1542. https://doi.org/10.1016/j.worlddev.2010.04.004
Hsieh, E., & Lai, K. S. (1994). Government spending and economic growth: The G-7 experience. Applied Economics, 26(5), 535–542. https://doi.org/10.1080/00036849400000022
Iimi, A. (2005). Decentralization and economic growth revisited: An empirical note. Journal of Urban Economics, 57(3), 449–461. https://doi.org/10.1016/j.jue.2004.12.007
Irandoust, M. (2019). Wagner on government spending and national income: A new look at an old relationship. Journal of Policy Modeling, 41(4), 636–646. https://doi.org/10.1016/j.jpolmod.2019.02.003
Irmen, A., & Kuehnel, J. (2009). Productive government expenditure and economic growth. Journal of Economic Surveys, 23(4), 692–733. https://doi.org/10.1111/j.1467-6419.2009.00576.x
Jeff-Anyeneh, S. E., Ananwude, A. C., Ezu, G. K., & Nnoje, A. I. (2020). Government expenditure and standard of living in an emerging market in Africa–Nigeria. Economic Journal of Emerging Markets, 12(2), 167–178. https://doi.org/10.20885/ejem.vol12.iss2.art4
Jena, N. R., & Sethi, N. (2020). Interaction of real effective exchange rate with economic growth via openness of the economy: Empirical evidence from India. Journal of Public Affairs, 20(2). https://doi.org/10.1002/pa.2042
Jibir, A., & Aluthge, C. (2019). Modelling the determinants of government expenditure in Nigeria. Cogent Economics and Finance, 7(1), 1620154. https://doi.org/10.1080/23322039.2019.1620154
Jung, H. S., & Thorbecke, E. (2003). The impact of public education expenditure on human capital, growth, and poverty in Tanzania and Zambia: A general equilibrium approach. Journal of Policy Modeling, 25(8), 701–725. https://doi.org/10.1016/S0161-8938(03)00060-7
Kaya, I., & Kaya, O. (2020). Foreign aid, institutional quality and government fiscal behavior in emerging economies: An empirical investigation. Quarterly Review of Economics and Finance, 76, 59–67. https://doi.org/10.1016/j.qref.2019.08.004
Khan, M. A., Kong, D., Xiang, J., & Zhang, J. (2020). Impact of Institutional Quality on Financial Development: Cross-Country Evidence based on Emerging and Growth-Leading Economies. Emerging Markets Finance and Trade, 56(15), 3829–3845. https://doi.org/10.1080/1540496X.2019.1588725
Kurniasih, E. P. (2017). Effect of economic growth on income inequality, labor absorption, and welfare in Indonesia. Economic Journal of Emerging Markets, 9(2), 181–188. https://doi.org/10.20885/ejem.vol9.iss2.art7
Kusuma, M. W., & Badrudin, R. (2016). Fiscal decentralization effect on economic growth in Bali. Economic Journal of Emerging Markets, 8(2), 136–147. https://doi.org/10.20885/ejem.vol8.iss2.art6
Laboure, M., & Taugourdeau, E. (2018). Does Government Expenditure Matter for Economic Growth? Global Policy, 9(2), 203–215. https://doi.org/10.1111/1758-5899.12540
Landau, D. (1983). Government Expenditure and Economic Growth: A Cross-Country Study. Southern Economic Journal, 49(3), 783. https://doi.org/10.2307/1058716
Lin, J. Y., & Liu, Z. (2000). Fiscal-decentralization and economic growth in China. Economic Development and Cultural Change, 49(1), 1–21. https://doi.org/10.1086/452488
Liu, Z., Hasan, M. M., Xuan, L. I., Saydaliev, H. B., Lan, J., & Iqbal, W. (2023). Trilemma Association of Education, Income and Poverty Alleviation: Managerial Implications for Inclusive Economic Growth. Singapore Economic Review, 68(4), 1469–1492. https://doi.org/10.1142/S0217590822440052
Loizides, J., & Vamvoukas, G. (2005). Government Expenditure and Economic Growth: Evidence from Trivariate Causality Testing. Journal of Applied Economics, 8(1), 125–152. https://doi.org/10.1080/15140326.2005.12040621
Martin, P. (1999). Public policies, regional inequalities and growth. Journal of Public Economics, 73(1), 85–105. https://doi.org/10.1016/S0047-2727(98)00110-8
Martinez-Vazquez, J., Lago-Peñas, S., & Sacchi, A. (2017). the Impact of Fiscal Decentralization: a Survey. Journal of Economic Surveys, 31(4), 1095–1129. https://doi.org/10.1111/joes.12182
Mehmood, W., Mohy Ul Din, S., Aman-Ullah, A., Khan, A. B., & Fareed, M. (2023). Institutional quality and economic growth: Evidence from South-Asian countries. Journal of Public Affairs, 23(1). https://doi.org/10.1002/pa.2824
Meltzer, A. H., & Richard, S. F. (1983). Tests of a rational theory of the size of government. Public Choice, 41(3), 403–418. https://doi.org/10.1007/BF00141072
Mike Ozemhoka Agbonkhese, A. O. A. (2014). Impact of Public Expenditure on the Growth of Nigerian Economy. European Scientific Journal, 10(28), 219–229. http://eujournal.org/index.php/esj/article/viewFile/4397/4194
Moreno-Enguix, M. D. R., & Lorente Bayona, L. V. (2017). Factors Affecting Public Expenditure Efficiency in Developed Countries. Politics and Policy, 45(1), 105–143. https://doi.org/10.1111/polp.12194
Muda, I., & Ridha, H. (2018). Effect of Revenue and General Allocation Fund of Capital Expenditures in the Economic Growth as Moderator Variable. Case of Indonesia. Academic Journal of Economic Studies, 4(1), 29–39.
Mutiara, A., & Astuti, Y. P. (2020). Pengaruh Pendapatan Asli Daerah, Dana Alokasi Umum, Dana Alokasi Khusus dan Dana Bagi Hasil Terhadap Belanja Modal. Jurnal Akuntansi Dan Bisnis Kontemporer, 1(1), 2015–2019. http://jabko.upstegal.ac.id/index.php/JABKO
Najmuddin, Z. (2020). The Impact of Government Expenditure on Banten Economic Growth in 2010 – 2017. Jurnal Perencanaan Pembangunan: The Indonesian Journal of Development Planning, 4(1), 54–64. https://doi.org/10.36574/jpp.v4i1.104
Nashshar, M. I., & Mulyana, B. (2022). Pengaruh Dana Alokasi Khusus terhadap Indeks Pembangunan Manusia dengan Belanja Modal sebagai Variabel Mediasi. Indonesian Treasury Review Jurnal Perbendaharaan Keuangan Negara Dan Kebijakan Publik, 7(3), 255–270. https://doi.org/10.33105/itrev.v7i3.474
Nasir, M. S., Wibowo, A. R., & Yansyah, D. (2021). The Determinants of Economic Growth: Empirical Study of 10 Asia-Pacific Countries. Signifikan: Jurnal Ilmu Ekonomi, 10(1), 149–160. https://doi.org/10.15408/sjie.v10i1.18752
Njoku, C. O., Ugwu, K. E., & Chigbu, E. E. (2014). Government Public Expenditures : Effect on Economic Growth. International Journal of Research in Management, Science & Technology (E, 2(1), 16–29.
Ocran, M. K. (2011). Fiscal policy and economic growth in South Africa. Journal of Economic Studies, 38(5), 604–618. https://doi.org/10.1108/01443581111161841
Olaoye, O. O., Orisadare, M., & Okorie, U. U. (2019). Government expenditure and economic growth nexus in ECOWAS countries. Journal of Economic and Administrative Sciences, 36(3), 204–225. https://doi.org/10.1108/jeas-01-2019-0010
Onifade, S. T., Çevik, S., Erdoğan, S., Asongu, S., & Bekun, F. V. (2020). An empirical retrospect of the impacts of government expenditures on economic growth: new evidence from the Nigerian economy. Journal of Economic Structures, 9(1). https://doi.org/10.1186/s40008-020-0186-7
PEARSON, M., SMITH, S., & WHITE, S. (1989). Demographic Influences on Public Spending. Fiscal Studies, 10(2), 48–65. https://doi.org/10.1111/j.1475-5890.1989.tb00109.x
Pizer, W. A., & Popp, D. (2008). Endogenizing technological change: Matching empirical evidence to modeling needs. Energy Economics, 30(6), 2754–2770. https://doi.org/10.1016/j.eneco.2008.02.006
Pratama, H. P., Syaparuddin, S., & Emilia, E. (2022). Determinants of economic growth regencies/cities in Jambi Province with dynamic panel data approach. Jurnal Perspektif Pembiayaan Dan Pembangunan Daerah, 10(5), 311–324. https://doi.org/10.22437/ppd.v10i5.21136
Rahman, M. M., & Alam, K. (2021). Exploring the driving factors of economic growth in the world’s largest economies. Heliyon, 7(5). https://doi.org/10.1016/j.heliyon.2021.e07109
Rajkumar, A. S., & Swaroop, V. (2008). Public spending and outcomes: Does governance matter? Journal of Development Economics, 86(1), 96–111. https://doi.org/10.1016/j.jdeveco.2007.08.003
Ranis, G., Stewart, F., & Ramirez, A. (2000). Economic growth and human development. World Development, 28(2), 197–219. https://doi.org/10.1016/S0305-750X(99)00131-X
Romer, P. M. (1990). Endogenous technological change. Journal of Political Economy, 98(5), S71–S102. https://doi.org/10.3386/w3210
Runtunuwu, P. C. H., & Karim, Z. A. (2023). Does government expenditure affect economic growth and people’s welfare? : Evidance from North Maluku. Jurnal Mantik, 7(2), 1125–1134. https://www.iocscience.org/ejournal/index.php/mantik/article/view/3796
Sabatini, F. (2008). Social capital and the quality of economic development. Kyklos, 61(3), 466–499. https://doi.org/10.1111/j.1467-6435.2008.00413.x
Sacchi, A., & Salotti, S. (2016). A Comprehensive Analysis of Expenditure Decentralization and of the Composition of Local Public Spending. Regional Studies, 50(1), 93–109. https://doi.org/10.1080/00343404.2014.893387
Samudram, M., Nair, M., & Vaithilingam, S. (2009). Keynes and Wagner on government expenditures and economic development: The case of a developing economy. Empirical Economics, 36(3), 697–712. https://doi.org/10.1007/s00181-008-0214-1
Sasongko, H. E., & Wibowo, P. (2022). Government Spending and Regional Economic Growth: the Mediating Effect of Human Development Index. Jurnal Ekonomi Bisnis Dan Kewirausahaan, 11(2), 230. https://doi.org/10.26418/jebik.v11i2.52229
Selvanathan, E. A., Selvanathan, S., & Jayasinghe, M. S. (2021). Revisiting Wagner’s and Keynesian’s propositions and the relationship between sectoral government expenditure and economic growth. Economic Analysis and Policy, 71, 355–370. https://doi.org/10.1016/j.eap.2021.05.005
Shaddady, A. (2022). Is Government Spending an Important Factor in Economic Growth? Nonlinear Cubic Quantile Nexus from Eastern Europe and Central Asia (EECA). Economies, 10(11). https://doi.org/10.3390/economies10110286
Shelton, C. A. (2007). The size and composition of government expenditure. Journal of Public Economics, 91(11–12), 2230–2260. https://doi.org/10.1016/j.jpubeco.2007.01.003
Slemrod, J., Gale, W. G., & Easterly, W. (1995). What Do Cross-Country Studies Teach about Government Involvement, Prosperity, and Economic Growth? Brookings Papers on Economic Activity, 1995(2), 373. https://doi.org/10.2307/2534615
Suri, T., Boozer, M. A., Ranis, G., & Stewart, F. (2011). Paths to Success: The Relationship Between Human Development and Economic Growth. World Development, 39(4), 506–522. https://doi.org/10.1016/j.worlddev.2010.08.020
Suwandaru, A., Alghamdi, T., & Nurwanto, N. (2021). Empirical analysis on public expenditure for education and economic growth: Evidence from indonesia. Economies, 9(4). https://doi.org/10.3390/economies9040146
TARSCHYS, D. (1975). The Growth of Public Expenditures: Nine Modes of Explanation. Scandinavian Political Studies, 10(10 A), 9–31. https://doi.org/10.1111/j.1467-9477.1975.tb00568.x
Teixeira, A. A. C., & Queirós, A. S. S. (2016). Economic growth, human capital and structural change: A dynamic panel data analysis. Research Policy, 45(8), 1636–1648. https://doi.org/10.1016/j.respol.2016.04.006
Tendengu, S., Kapingura, F. M., & Tsegaye, A. (2022). Fiscal Policy and Economic Growth in South Africa. Economies, 10(9). https://doi.org/10.3390/economies10090204
Uddin, I., Khan, M. A., Tariq, M., Khan, F., & Malik, Z. K. (2024). Revisiting the determinants of life expectancy in Asia—exploring the role of institutional quality, financial development, and environmental degradation. Environment, Development and Sustainability, 26(5), 11289–11309. https://doi.org/10.1007/s10668-023-03283-0
Wang, E. C., & Alvi, E. (2011). Relative Efficiency of Government Spending and Its Determinants: Evidence from East Asian Countries. Eurasian Economic Review, 1(1), 3–28. https://doi.org/10.14208/BF03353822
Wang, Y., & Yao, Y. (2003). Sources of China’s economic growth 1952-1999: Incorporating human capital accumulation. China Economic Review, 14(1), 32–52. https://doi.org/10.1016/S1043-951X(02)00084-6
Whiteley, P. F. (2000). Economic growth and social capital. Political Studies, 48(3), 443–466. https://doi.org/10.1111/1467-9248.00269
Wu, S. Y., Tang, J. H., & Lin, E. S. (2010). The impact of government expenditure on economic growth: How sensitive to the level of development? Journal of Policy Modeling, 32(6), 804–817. https://doi.org/10.1016/j.jpolmod.2010.05.011
Zia, S., Rahman, M. ur, Noor, M. H., Khan, M. K., Bibi, M., Godil, D. I., Quddoos, M. U., & Anser, M. K. (2021). Striving towards environmental sustainability: how natural resources, human capital, financial development, and economic growth interact with ecological footprint in China. Environmental Science and Pollution Research, 28(37), 52499–52513. https://doi.org/10.1007/s11356-021-14342-2
Downloads
Published
Issue
Section
License
Copyright (c) 2024 Moh Sahroni Nurkodri (Author)
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
