I’m looking for data on government spending and taxation over time for Norway and Iceland. Also some sort of index of natural resources.
I’ve found this website for 1950-2007 on GDP, but it doesn’t have a source. If anyone knows of any other sources that would be nice too. I’ve been looking around but norway doesn’t self publish its historical statistics…’
I’m building an econometric model for these countries and the USA. I’m either going to use SED or a sum of lognormal decays to model economic growth.
Its for a debate. Socialists don’t know how to do math so they just say crap like “Oh in 1999 the government raised spending 20% and they also had 20% economic growth, I guess they can just keep doing that!”. In reality, capital is formed, has peak productivity, and then decays. So capital formed 5 years ago might have a huge impact down the road. When I do the curve fit, my optimizer will choose a time-constant of X many years. Whatever is the best fit.
I’ll link the debate after its done so that you all can reference it (assuming it’s good work).
I’m also doing statistics between every country in 2007, and just for kicks, the optimizer only chooses to weigh government spending by 15% as a predictor of prosperity. If you take just the top 30 countries, the same model weighs gov spending at -.4%. Fun 