The Impact of Government Size and Governance on Economic Growth

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Title:	The Impact of Government Size and Governance on Economic Growth
Other Titles:	政府規模與治理對經濟成長的影響
Authors:	Naonori Koyama
Keywords:	Government Size;Government Expenditure;Economic Growth;Governance;Panel Analysis
Date:	2016-12
Issue Date:	2017-02-21 02:10:48 (UTC+8)
Publisher:	國際政治與經濟論叢編輯委員會
Abstract:	This paper considers the effects of size of government on economic growth. With Japan’s aging society and low birth rates, the size of the Japanese government is expanding. The size of government is often measured by the share of its expenditure and debt versus GDP. There is much research indicating that expanded government negatively impacts economic growth. Despite the empirical support for that notion, in Japan—where the economy has long been stagnant since the 1990s—it would be a daunting task to fiscally restructure such that size of government were drastically reduced. It may not be realistic to shrink government in a society with low birth rates and an increasing average age. There is a critical policy need to look at both the impact of size of government on economic growth and the nature of governance reform. This paper seeks to achieve the following. First, it will empirically analyze the impact of size of government on economic growth. Much existing research focuses only on size of government as a factor impacting economic growth, but this paper will also take note of effects of governance reform. Second, it will use six indicators of governance—voice and accountability, corruption, government effectiveness, political stability, regulatory quality and legal compliance—in analyzing what sort of governance reform contributes to economic growth.
Relation:	國際政治與經濟論叢 4，頁75-86
Appears in Collections:	[Graduate Institute of Japan Political and Economic ] Journal Article

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