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24 Economic Analysis (2010, Vol. 43, No. 1-2, 9-24) Knauf, A. (2006), “Le rôle des acteurs dans un dispositif régional d’intelligence économique : La place de l’informédiaire en tant que médiateur et animateur du dispositif”. // http://hal.inria.fr/docs/00/10/73/12/PDF/knauf_numeroIE2006_corrige.pdf Loinger, G. and Némery, J-C. (1998), Recomposition et développement des territoires, enjeux économiques, processus, acteurs, L’Harmattan. Michalet, C-A. (2003), “Comptes rendus d’auditions, Mondialisation : une chance pour l’environnement ?”, 12 March 2003. // http://www.senat.fr/rap/r03-233/r03-23355.html Michalet, C-A. (2007), Mondialisation, la grande rupture, La Découverte. Mohellebi, D. and Dou, H. (2007), “Les nouvelles technologies de l’information et de la communication & la capitalisation des compétences internes de l’entreprise”, ISDM 31, // http://isdm.univ-tln.fr Némery, J-C. (2006), Les pôles de compétitivité dans le système français et européen, approches sur les partenariats institutionnels, L’Harmattan. Perrat, J. and Zimmermann, J.-B. (2003), “Stratégies des firmes et dynamiques territoriales”, in Dupuy, C. and Burmeister, A. and al. (2003), Entreprises et territoires, les nouveaux enjeux de la proximité, Paris, La documentation Française. Porter, M. (1990), The Competitive Advantage of Nations, London & Basingstoke: Macmillan. Savatier, J. (2007), “L’innovation et l’anticipation des mutations économiques et sociales : perspectives européenne”, in “Innovation et anticipation des mutations économiques et sociales”, Seminar organized by the European Commission, Diact and DGEFP, Bordeaux, 22-24 October 2007. Samson, I. (2008), L’économie contemporaine en 10 leçons, Dalloz. Schmidt, D. (2004), “Le partenariat euro-méditerranéen : une entreprise inachevée”, In Questions internationales n°10, Le Maghreb, La Documentation française; November-December 2004. Thoenig, J-C. and Waldman, C. (2005), De l’entreprise marchande à l’entreprise marquante, Editions d’Organisation. Zara, O. (2005), Le management de l’intelligence collective : vers une nouvelle gouvernance, M2 éditions. Article history: Received: 30 March 2009 Accepted: 19 October 2009
ORIGINAL SCIENTIFIC PAPER The Analysis of Long Run Growth Oriented Fiscal Policy Erős Adrienn * , University of Miskolc, Institute of Economic Theory, Miskolc, Hungary UDC: 336.02(439);(415) JEL: H3; N14 ABSTRACT - One of the most debated questions of growth theory is whether or not government policies can be used to influence the long run growth rate of the economy. Neoclassical theory states economic policy actions can only have short run effects on the growth rate of the economy, but it can’t change the long run perspectives for growth. Endogenous growth theory integrated (among several other factors) fiscal policy to the growth models, enabling it to influence long run growth performance. According to these theories some elements of the government budget have positive effects on the long run growth rate of the economy (productive expenditures, and budget balance), while others are neutral (non-distortionary taxation and unproductive expenditures), or have negative consequences for growth (distortionary taxation). In my paper I summarize the theoretical and empirical literature of the relationship between fiscal policy and long run economic growth shortly. Then I continue my work with using the parameter estimates of a third generation study of developed countries (which considers the budget constraint as well) to evaluate the fiscal policy actions taken in Hungary and in Ireland, concentrating on the overall long run trends in the last one and a half decade. I will try to give explanation for the differences in the two countries’ reactions to some of the similar fiscal policy changes mapped during my research. KEY WORDS: fiscal policy, economic growth, Hungary, Ireland Review of the research topic The most important aim of economic policy is to ensure the highest level and most general welfare possible to the citizens of a country. There can be no other way to improve welfare over the long run but stimulating intense and sustainable economic growth. That is why the analysis of economic growth is a central question in the theory of economic policy, macro- and international economics. „Even small differences in long-term growth rates when cumulated over a generation or more, have much greater consequences for standards of living than the kinds of short-term business fluctuations that have typically occupied most of the attention of macroeconomists. To put it another way, if we can learn about government policy options that have even small effects on the long-term growth rate, then we can contribute much more to improvements in standards of living than has been provided by the entire history of macroeconomic analysis of countercyclical policy and fine-tuning. Economic growth is the part of macroeconomics that really matters.” [Barro – Sala-i-Martin (1995) 4-5 pp.] * Tel: +36 / 46 / 565-111 / 18-71, mob: +36 / 20 / 34-27-486, fax: +36 / 46 / 565-194, e-mail: geteros@unimiskolc.hu
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Lovre, I., et al., Book Review, EA
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