Public Sector Economics | Pareto Efficiency | Public GoodPublished in: Pacific Economic Bulletin , Vol. This paper analyses current government expenditure in Fiji using annual time series data for the period Categorising the literature in this way suggests the application of non-nested tests in empirical work, which is reported elsewhere. All non-nested tests lead to the conclusion of double rejection. Therefore, a parsimonious comprehensive model, encompassing both economic and institutional variables, is preferred as it passes all diagnostic tests and exhibits no sign of misspecification.
Private Sector vs. Public Sector
Public Sector Economics
Explaining the phenomenon of the growth of government expenditure has always been a wide field in the science of Public Finance. Economic models simplify the real world in order to make the model manageable. Finally, economic models are often tailored for only one specific market or economy — this limitation has to be taken into account. Firstly, a theory should be consistent itself. Contradictions within the assumptions lead to wrong results and make the theory unreliable and worthless Stanlake 6. However, several critiques and comments on this theory have been expressed in the past:.
You are currently using the site but have requested a page in the site. Would you like to change to the site? Brown , Peter M. Cook, Current Issues in Fiscal Policy. Undetected location. NO YES.
Published Printed in Canada. Includes bibliographical references and index. ISBN: 1. Finance, Public - Developing countries. Fiscal policy - Developing countries. Taxation - Developing countries.
Public Sector Economics: Made Simple introduces the reader, step by step, clearly and methodically, to the concepts and principles of public sector economics. The functions and finance of central government, local authorities, and nationalized industries are examined within the framework of a national economy.