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• W2000540665 abstract "This paper uses a general two-sector model of endogenous growth to examine how the spirit of capitalism affects the relation between public finance and growth. The spirit of capitalism is defined as acquisitive personal objectives. We find that if the spirit of capitalism is present, an increase in the share of government spending in output reduces the long-run growth rate. The negative relationship between fiscal spending and growth is consistent with empirical evidence." @default.
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• W2000540665 date "2004-11-01" @default.
• W2000540665 modified "2023-10-18" @default.
• W2000540665 title "Taxation, growth, and the spirit of capitalism" @default.
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• W2000540665 doi "https://doi.org/10.1016/j.ejpoleco.2003.07.001" @default.
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