【摘要】 政府的公共投资政策对决定经济增长和社会福利水平起着关键的作用。本文研究了不同公共投资政策的福利成本。我们在一个存在基础设施资本和私人资本的内生增长框架内,给出了计算经济从非均衡状态过渡到平衡增长路径这个过程中的社会福利的方法,比较了不同公共投资政策相对于帕累托最优经济而言给社会带来的福利成本,并分析了影响福利成本的各种因素。政府的最优公共投资政策是使得福利成本最小的政策;在一定条件下,政府短期内可以采取推动型政策以有效地改变经济结构,从而为长期经济增长创造条件,改善社会福利。更多还原

【Abstract】 Public investment policy plays an important role in determining economic growth and social welfare. Government levies taxation and uses the revenue to finance the public investment in infrastructure capital. This paper defines the welfare cost of public investment policy in an endogenous growth framework. We develop a method to compute the social welfare when the economy is on its transitional path, and compare the welfare costs of different policies. Although taxation often causes distortion to the economy, government may utilize certain short-run policy to correct such distortion and improve social welfare.更多还原