Research On National Debt Effect In Economic Growth

This papcr is titled to the Research on National Debt Effect in Economic Growth.By analyzing the relationship of national debt and economic growth deeply by supply and demand,we can provide the establishment of china national debt policy based on this theory.With the coming up and development of capitalist production relationship,the modern national debt system came up and developed in the end of fcudai society.Most classical economists showed negative attitude to nationaLl debt and deficit.This viewpoint is not only related to their focus of economics'but also related to the liberal philosophy thought they believed·The core view of the classical economics is the Say'S Law of supply createsits own demand and market mechanism can automatically adjust to full employment equilibrium.During 1929-1933,the Great Depression swept through the capitalist countries has greatly shaken the traditional doctrine of classical economics,hencc Keynes provided the defidt fiscal policy theory against traditional viewpoint.During 1950s-1960s,as a public choice school leader,Buchanan has fiercelv attacked Keynesian deficit fiscal policies according to public choice perspective.In 1970s-1990s,Western academic around Richard equivalence proposition held a controversy.In 1970s,the academic debate which waS to the rise of the original starting point of Ricardo,Was various interpretations and policies that on mainly was around support for the deficit bond to the possibility of attracting private savings,government bonds as a pmductive asset to the stock demand and the impact of government bond burden On the transfer.The critical evaluative analysis on Ricardo...