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• W3012485319 abstract "Scully curves estimating growth-maximizing public-sector size are constructed using panel data covering 17 industrialized nations from 1870–2016. Results suggest that government expenditure-to-GDP ratios between 24% and 32% were historically growth maximizing. Instrumental variable estimates support the quadratic Scully curve relationship as causal over this period. We allow for a shifting Scully curve and find that the economic growth-maximizing size changed throughout history, from 11% pre-WWI to 21% post-WWII and 41% following the OPEC crisis. The Scully curve disappears after the mid-1990s suggesting a structural change in the relationship between central government expenditure and economic growth." @default.
• W3012485319 created "2020-03-23" @default.
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• W3012485319 date "2020-03-12" @default.
• W3012485319 modified "2023-09-25" @default.
• W3012485319 title "The shifting Scully curve: international evidence from 1871 to 2016" @default.
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• W3012485319 doi "https://doi.org/10.1080/00036846.2020.1733479" @default.
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