Download the fantastic book titled Is the Public Investment Multiplier Higher in Developing Countries An Empirical Exploration written by Mr.Alejandro Izquierdo, available in its entirety in both PDF and EPUB formats for online reading. This page includes a concise summary, a preview of the book cover, and detailed information about "Is the Public Investment Multiplier Higher in Developing Countries An Empirical Exploration", which was released on 20 December 2019. We suggest perusing the summary before initiating your download. This book is a top selection for enthusiasts of the Business & Economics genre.
Summary of Is the Public Investment Multiplier Higher in Developing Countries An Empirical Exploration by Mr.Alejandro Izquierdo PDF
Over the last decade, empirical studies analyzing macroeconomic conditions that may affect the size of government spending multipliers have flourished. Yet, in spite of their obvious public policy importance, little is known about public investment multipliers. In particular, the clear theoretical implication that public investment multipliers should be higher (lower) the lower (higher) is the initial stock of public capital has not, to the best of our knowledge, been tested. This paper tackles this empirical challenge and finds robust evidence in favor of the above hypothesis: countries with a low initial stock of public capital (as a proportion of GDP) have significantly higher public investment multipliers than countries with a high initial stock of public capital. This key finding seems robust to the sample (European countries, U.S. states, and Argentine provinces) and to the identification method (Blanchard-Perotti, forecast errors, and instrumental variables). Our results thus suggest that public investment in developing countries would carry high returns.
Detail About Is the Public Investment Multiplier Higher in Developing Countries An Empirical Exploration PDF
- Author : Mr.Alejandro Izquierdo
- Publisher : International Monetary Fund
- Genre : Business & Economics
- Total Pages : 47 pages
- ISBN : 151352111X
- Release Date : 20 December 2019
- PDF File Size : 13,8 Mb
- Language : English
- Rating : 4/5 from 21 reviews
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