Does Public Capital Crowd Out Private Capital Evidence From India
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Does Public Capital Crowd Out Private Capital Evidence From India
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Author : Luis Serven
language : en
Publisher: World Bank Publications
Release Date : 1996
Does Public Capital Crowd Out Private Capital Evidence From India written by Luis Serven and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Inversiones privadas - India categories.
Does Public Capital Crowd Out Private Capital Evidence From India
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Author : Luis Servén
language : en
Publisher:
Release Date : 1999
Does Public Capital Crowd Out Private Capital Evidence From India written by Luis Servén and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
May 1996 A recent but rapidly growing empirical literature focuses on the relationship between public and private capital. But for the most part, it ignores the heterogeneity of public investment. In many countries, especially in the developing world, public investment includes not only basic infrastructure projects, but also commercial and industrial projects similar to those undertaken by the private sector. And those two types of public investment are likely to have quite different effects on the accumulation of private capital. Using data from India, the author examines this issue empirically by implementing a simple analytical model encompassing two types of public capital. The empirical results show that in the long run capital for public infrastructure projects crowds in private capital - other types of public capital have the opposite effect. But in the short run, both kinds of public investment may crowd out private investment.
Crowding Out Or Crowding In Public And Private Investment In India
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Author : Girish Bahal
language : en
Publisher: International Monetary Fund
Release Date : 2015-12-17
Crowding Out Or Crowding In Public And Private Investment In India written by Girish Bahal and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-17 with Business & Economics categories.
This paper contributes to the debate on the relationship between public-capital accumulation and private investment in India along the following dimensions. First, acknowledging major structural changes that the Indian economy has undergone in the past three decades, we study whether public investment in recent years has become more or less complementary to private investment in comparison to the period before 1980. Second, we construct a novel data-set of quarterly aggregate public and private investment in India over the period 1996Q2-2015Q1 using investment-project data from the CapEx-CMIE database. Third, embedding a theory-driven long-run relationship on the model, we estimate a range of Structural Vector Error Correction Models (SVECMs) to re-examine the public and private investment relationship in India. Identification is achieved by decomposing shocks into those with transitory and permanent effects. Our results suggest that while public-capital accumulation crowds out private investment in India over 1950-2012, the opposite is true when we restrict the sample post 1980 or conduct a quarterly analysis since 1996Q2. This change can most likely be attributed to the policy reforms which started during early 1980s and gained momentum after the 1991 crises.
Does Public Capital Crowd Out Private Capital
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Author :
language : en
Publisher:
Release Date : 1990
Does Public Capital Crowd Out Private Capital written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with categories.
Crowding Out Or Crowding In Public And Private Investment In India
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Author : Mr. Mehdi Raissi
language : en
Publisher: International Monetary Fund
Release Date : 2015-12-17
Crowding Out Or Crowding In Public And Private Investment In India written by Mr. Mehdi Raissi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-17 with Business & Economics categories.
This paper contributes to the debate on the relationship between public-capital accumulation and private investment in India along the following dimensions. First, acknowledging major structural changes that the Indian economy has undergone in the past three decades, we study whether public investment in recent years has become more or less complementary to private investment in comparison to the period before 1980. Second, we construct a novel data-set of quarterly aggregate public and private investment in India over the period 1996Q2-2015Q1 using investment-project data from the CapEx-CMIE database. Third, embedding a theory-driven long-run relationship on the model, we estimate a range of Structural Vector Error Correction Models (SVECMs) to re-examine the public and private investment relationship in India. Identification is achieved by decomposing shocks into those with transitory and permanent effects. Our results suggest that while public-capital accumulation crowds out private investment in India over 1950-2012, the opposite is true when we restrict the sample post 1980 or conduct a quarterly analysis since 1996Q2. This change can most likely be attributed to the policy reforms which started during early 1980s and gained momentum after the 1991 crises.
The Effect Of Business Cycles On Population Health In The Emerging Economies Volume Ii
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Author : Wen-Yi Chen
language : en
Publisher: Frontiers Media SA
Release Date : 2022-02-03
The Effect Of Business Cycles On Population Health In The Emerging Economies Volume Ii written by Wen-Yi Chen and has been published by Frontiers Media SA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-02-03 with Medical categories.
Successful Transitions From Public To Private Sector Led Growth Lessons For Benin
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Author : Aissatou Diallo
language : en
Publisher: International Monetary Fund
Release Date : 2021-12-03
Successful Transitions From Public To Private Sector Led Growth Lessons For Benin written by Aissatou Diallo and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-12-03 with Business & Economics categories.
Many Sub-Saharan African (SSA) countries, like Benin, have scaled up public investment during the last decade. Such a strategy contributed to the improvement of infrastructure, but also to a build-up of debt vulnerabilities. Looking forward, the planned fiscal consolidation will result in some restraint of public spending, and, in particular, public investment. In this context, maintaining or even raising the region’s economic growth will require an offset by the private sector. The analysis draws lessons from countries that have successfully transitioned from public investment to private investment-led growth using a global sample starting in the mid-1980s. These lessons highlight policies that have been crucial in fostering a rebound of private investment in the wake of a contraction of public investment. The analytical framework proposed by Hausman, Rodrik and Velasco (2005) is used to identify and classify such policies. Finally, the paper analyses how the identified policies could help Benin achieving a smooth transition from public to private sector-led growth.
Financial Macro And Micro Econometrics Using R
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Author :
language : en
Publisher: Elsevier
Release Date : 2020-01-25
Financial Macro And Micro Econometrics Using R written by and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-25 with Mathematics categories.
Financial, Macro and Micro Econometrics Using R, Volume 42, provides state-of-the-art information on important topics in econometrics, including multivariate GARCH, stochastic frontiers, fractional responses, specification testing and model selection, exogeneity testing, causal analysis and forecasting, GMM models, asset bubbles and crises, corporate investments, classification, forecasting, nonstandard problems, cointegration, financial market jumps and co-jumps, among other topics. Presents chapters authored by distinguished, honored researchers who have received awards from the Journal of Econometrics or the Econometric Society Includes descriptions and links to resources and free open source R Gives readers what they need to jumpstart their understanding on the state-of-the-art
Macroeconomics
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Author : Errol D'Souza
language : en
Publisher: Pearson Education India
Release Date : 2009-05
Macroeconomics written by Errol D'Souza and has been published by Pearson Education India this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-05 with Business & Economics categories.
Errol D'Souza's Macroeconomics helps students realize the connections between theoretical frameworks and the actual behaviour of the economy; enables instructors to teach macroeconomics concepts within the context of both the Indian and global economy; and provides policymakers with material from current research in macroeconomics. The focus of the book rests on the analysis of macroeconomic thought in terms of the intuition and underlying logic that forms its basis. This book has been designed to help readers think independently about real-world situations, by helping them master the basic technical tools that enable them to do this. At a conceptual level, the book focuses on the most current and relevant issues, while also understanding the fluidity of the subject.
Public Investment Efficiency And Sectoral Economic Growth In Pakistan
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Author : Ahmed, Qazi Masood
language : en
Publisher: Intl Food Policy Res Inst
Release Date :
Public Investment Efficiency And Sectoral Economic Growth In Pakistan written by Ahmed, Qazi Masood and has been published by Intl Food Policy Res Inst this book supported file pdf, txt, epub, kindle and other format this book has been release on with Social Science categories.
This paper compares the effects of aggregate and sectoral public investments on sectoral private investment, output, and employment. We estimate the elasticities of private investment with respect to aggregate and sectoral public investments to find crowding-out or crowding-in phenomena in Pakistan. The study also reveals the changes in labor absorption or replacement due to additional capital and the effects on output. Our data covers eight sectors of the Pakistan economy and uses annual time series data from 1964 to 2011. This study uses vector autoregressive (VAR) techniques, as applied by Pereira (2000, 2001), which allows measuring the dynamic feedback effects among the variables.