oa South African Journal of Economic and Management Sciences - A note on the effects of public finance on the economy

Volume 2, Issue 2
  • ISSN : 1015-8812
  • E-ISSN: 2222-3436



This note attempts to measure the effects of aggregate government expenditure on GNP growth and monetary policy in a growing economy. A version of the standard St Louis model is used for empirical estimation. Related effects were also estimated by means of South Korean data for the period 1970-1988. The findings, inter alia, support the position that government bondholding is regarded as an asset, not a future tax burden.

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