Economic growth and public and private investment returns
Data(s) |
09/09/2016
09/09/2016
2016
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Resumo |
We study the macroeconomic effects of public and private investment in 17 OECD economies through a VAR analysis with annual data from 1960 to 2014. From impulse response functions we find that public investment had a positive growth effect in most countries, and a contractionary effect in Finland, UK, Sweden, Japan, and Canada. Public investment led to private investment crowding out in Belgium, Ireland, Finland, Canada, Sweden, the UK and crowding-in effects in the rest of the countries. Private investment has a positive growth effect in all countries; crowds-out (crowds-in) public investment in Belgium and Sweden (in the rest of the countries). The partial rates of return of public and private investment are mostly positive. |
Identificador |
Afonso, António e Miguel St. Aubyn (2016). "Economic growth and public and private investment returns". Instituto Superior de Economia e Gestão - DE Working papers nº 14/2016/DE/UECE 2183-1815 |
Idioma(s) |
eng |
Publicador |
ISEG – Departamento de Economia |
Relação |
DE Working papers;nº 14/2016/DE/UECE https://aquila.iseg.utl.pt/aquila/getFile.do?method=getFile&fileId=735661&_request_checksum_=53b348957e7509450f12e2f834db6ef45140b2aa |
Direitos |
openAccess |
Palavras-Chave | #fiscal policy #public investment #private investment #impulse response functions #VAR |
Tipo |
workingPaper |