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Mr. Benedict J. Clements


Fiscal policy can foster growth and human development through a number of different channels. These channels include the macro-economic (for example, through the influence of the budget deficit on growth) as well as the microeconomic (through its influence on the efficiency of resource use). But how precisely do these channels work in developing countries? Do the insights gleaned from the vast body of research on these topics in industrial countries carry over to developing countries?1