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16 November 2003, Volume 23 Issue 11

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THE FISCAL EXPENDITURE STRUCTURES AND ECONOMIC GROWTH

GUO Qing-wang, LV Bing-yang, ZHANG De-yong

2003, (11):  5-12. 

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Our theoretical and empirical models give the following conclusions: (1) The total fiscal expenditure correlates negatively to economic growth, the fiscal productive expenditure positively. (2) The human capital investment contributes more to economic growth than the material capital investment. (3) The expenditure on research contributes much more to economic growth than the material and human capital investments. All of these are very important for the government to adjust the fiscal expenditure policy, optimize the fiscal expenditure structures and focus the fiscal expenditure.