Impact of Government Size on Economic Growth in the Selected Countries
Subject Areas : Labor and Demographic Economics
Keywords: panel data, Economic Growth, Government Size, Consumption Expenditure, Statics,
Abstract :
This paper investigates the effect of government size on economic growth of 23 selected countries during 1980-2008. To do this, the government size variable is determined by the government general consumption expenditure ratio to GDP and then Static Panel Data technique is used along with the data during 1980-2008. The results reveal that government size, inflation and female fertility rate have negative and investment has positive and significant effects on economic growth in those countries. Moreover, they represent that the effect of market size is not significant. Furthermore, based on the conditions of model estimation, sometimes trade openness has positive and significant effect on economic growth but insignificant in other times.
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