Buy custom size of government in relation to economic growth
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| Topic: |
Business
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| Number of pages / Number of words: |
5 / 1302 |
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Population (P) is used as a proxy for the labor force since data on the labor force in in most developing countries, is difficult to obtain. The use of population as a proxy is disagreeable but conventional in estimating economic growth models. Growth in capital is measured as the share of investment in gross domestic product, l/Y...
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Growth in capital is measured as the share of investment in gross domestic product, l/Y. Government size is measured as the share of government consumption expenditure in GDP, G/Y. Government consumption expenditure is the sum of (i) purchases, less sales, of consumer goods and services by central, regional and local governments, reduced by the value of the own-account production of fixed assets, (ii) compensation of employees, (iii) compensation of fixed assets, and (iv) any payments of indirect taxes...
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General points of the essay
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