Growth Policy and the State

  • Working Paper #3 by P. Aghion

In this paper Professor Philippe Aghion of Harvard University argues the importance of the state governance. It is not so much a reduced state that we need to foster economic growth in our countries, but a strategic state. The strategic state would target its investments to maximize growth in the face of hard budget constraints. This course departs both from the Keynesian view of a state sustaining growth through demand-driven policies and from the neo-liberal view of a minimal state confined to its regalian functions.

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Philippe Aghion
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Working Paper #3 by P. Aghion
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by Philippe Aghion
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Growth Policy and the State [1.25 MB PDF]