This research studies the effects of financial activity in the public sector on long-term regional economic growth, dealing with the aspect of expenditure and also alluding to central and regional government policies. The work provides a reading of the contributions already made by other authors in this field and suggests the relevance of the variables of human capital and technological progress for judging regional development. In addition, the authors estimate that the considerable progress being made in developing statistical information on a regional scale could provide future researchers with a more extensive area for action in a short space of time.