Original Research

A note on the effects of public finance on the economy

Eui-Gak Hwang
South African Journal of Economic and Management Sciences | Vol 2, No 2 | a2580 | DOI: https://doi.org/10.4102/sajems.v2i2.2580 | © 2018 Eui-Gak Hwang | This work is licensed under CC Attribution 4.0
Submitted: 03 July 2018 | Published: 30 June 1999

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Eui-Gak Hwang, Korea University, South Korea; and University of Pretoria, South Africa

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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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