Public and private investment in the United States and Canada

被引:81
作者
Voss, GM [1 ]
机构
[1] Reserve Bank Australia, Econ Res Dept, Sydney, NSW 2000, Australia
基金
澳大利亚研究理事会;
关键词
public investment; infrastructure; vector autoregression models; neo-classical investment model;
D O I
10.1016/S0264-9993(00)00074-2
中图分类号
F [经济];
学科分类号
02 ;
摘要
Using data for both the US and Canada, I examined private and public investment during the last four decades to determine what support there is, if any, for the crowding in hypothesis. Based on neo-classical theories of investment, simple VAR models of private and public investment behaviour are used to examine the short- and long-run interactions between these variables. For both countries there is no evidence of crowding in due to complementarities between public and private investment; in fact, innovations to public investment tend to crowd out private investment. (C) 2002 Elsevier Science B.V. All rights reserved.
引用
收藏
页码:641 / 664
页数:24
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