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Until the early 1990s, the discussions on fiscal policy primarily largely centered on the functions of economic stabilization, income redistribution and resource allocation. Long-term growth was not usually viewed as an end by itself, and fiscal policy was often not sufficiently tailored to the different circumstances and priorities of countries at different stages of development. It was only in the early 1990s that the growth implications of fiscal policy moved to the center of the debate. In the earlier literature, fiscal policy and the discussion of its impact on growth focused on broad aggregates, levels and trends. It is only relatively recently that more disaggregated fiscal parameters are being discussed in the context of growth.
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