THE OPTIMAL GROWTH RATE OF GOVERNMENT'S EXPENDITURE: DYNAMIC OPTIMAL CONTROL THEORY

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YOUNESSI ALI; GHAFFARI HADI; PORKAZEMI MOHAMMAD HOSSEIN; KHODADAD KASHI FARHAD

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Journal: JOURNAL OF ECONOMIC GROWTH AND DEVELOPMENT RESEARCH Year:2016 | Volume:6 | Issue:22 Page(s): 145-163

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Title

THE OPTIMAL GROWTH RATE OF GOVERNMENT'S EXPENDITURE: DYNAMIC OPTIMAL CONTROL THEORY

Author(s)

YOUNESSI ALI | GHAFFARI HADI | PORKAZEMI MOHAMMAD HOSSEIN | KHODADAD KASHI FARHAD | Issue Writer Certificate

Keywords

GOVERNMENT'S EXPENDITUREQ2

HOUSEHOLD UTILITYQ1

DYNAMIC OPTIMAL CONTROL THEORYQ1

Abstract

Increase in government spending can lead to increase in production, supply of public goods and services as well as utility. However, it should be noted that increasing the role of government in the economy will cause crowding out of the private sector and this will reduce the utility.The present study is looking for Iran's optimal growth rate of government's spending using time series data in the years 1978-2014. via a DYNAMIC OPTIMAL CONTROL THEORY approach and the maximum principle.The results show that, the optimal growth rate of government’s expenditure is 7% and the main factors affecting this rate is the ratio of private and public sector investment. Therefore, the current growth rate of government’s spending is not optimal and the government needs to control the growth rate of spending especially current expenditure.

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APA: Copy

YOUNESSI, ALI, GHAFFARI, HADI, PORKAZEMI, MOHAMMAD HOSSEIN, & KHODADAD KASHI, FARHAD. (2016). THE OPTIMAL GROWTH RATE OF GOVERNMENT'S EXPENDITURE: DYNAMIC OPTIMAL CONTROL THEORY. JOURNAL OF ECONOMIC GROWTH AND DEVELOPMENT RESEARCH, 6(22), 145-163. SID. https://sid.ir/paper/192172/en

Vancouver: Copy

YOUNESSI ALI, GHAFFARI HADI, PORKAZEMI MOHAMMAD HOSSEIN, KHODADAD KASHI FARHAD. THE OPTIMAL GROWTH RATE OF GOVERNMENT'S EXPENDITURE: DYNAMIC OPTIMAL CONTROL THEORY. JOURNAL OF ECONOMIC GROWTH AND DEVELOPMENT RESEARCH[Internet]. 2016;6(22):145-163. Available from: https://sid.ir/paper/192172/en

IEEE: Copy

ALI YOUNESSI, HADI GHAFFARI, MOHAMMAD HOSSEIN PORKAZEMI, and FARHAD KHODADAD KASHI, “THE OPTIMAL GROWTH RATE OF GOVERNMENT'S EXPENDITURE: DYNAMIC OPTIMAL CONTROL THEORY,” JOURNAL OF ECONOMIC GROWTH AND DEVELOPMENT RESEARCH, vol. 6, no. 22, pp. 145–163, 2016, [Online]. Available: https://sid.ir/paper/192172/en

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