RFF Environmental and Resource Economics Set Series

Public Investment, the Rate of Return and Optimal Fiscal Policy

by Kenneth J. Arrow and Mordecai Kurz

Published 1 July 1970

This book, co-authored by the Nobel-prized economist, Kenneth Arrow, considers public expenditures in the context of modern growth theory. It analyzes optimal growth with public capital. A theory of 'controllability' is developed and injected into public economics and growth models.

Originally published in 1970