The scope of government and the wealth of nations

Article Abstract:

Research was conducted to examine the relationship between the level of government expenditures and GDP growth in OECD countries as well as a larger set of 60 nations worldwide. Data collected for OECD countries pertained to the 23 nations that were members for the period covering 1960 to 1996. Results provide strong evidence that there was a persistent negative relationship between government expenditures, which increased by 10%, and GPD growth, which declined by about one percentage point.

Research, Economic aspects, Gross domestic product, Expenditures, Public, Public expenditures, Organization for Economic Cooperation and Development

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Achieving monetary stability at home and abroad

Article Abstract:

The history of US monetary policy in the 20th century and factors to consider in formulating a world monetary policy for the 21st century are examined. Topics include the Breton Woods system from 1950-70, the activist policy from 1971-82, and the emphasis on price stabilty since 1983; lessons of the 20th century; the importance of price stability; an examination of worldwide monetary performance; and forecasts for future developments, including the impact of the use of electronic money.

World, Statistical Data Included, Analysis, History, Economic policy, Economic development, Monetary policy

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Note issue by banks: a step toward free banking in the United States?

Article Abstract:

Free banking and the issuing of bank notes, while attracting considerable scholarly interest at the end of the 20th century, has not existed since 1962. Permitting US banks to issue competitive notes would reduce the Federal Reserve's profits but free banking, once common, could be effective if reestablished.

Banking industry, Management, Bank notes

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