Does Public Capital Crowd Out Private Capital Evidence From India

Author : Luis Serven
Publisher : World Bank Publications
ISBN 13 : 6121413050
Total Pages : 44 pages
Book Rating : 4.59/5 ( download)

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Download or read book Does public capital crowd out private capital? : evidence from india written by Luis Serven and published by World Bank Publications. This book was released on 1996 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Luis Servén
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.51/5 ( download)

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Download or read book Does Public Capital Crowd Out Private Capital? Evidence from India written by Luis Servén and published by . This book was released on 2016 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Author : Girish Bahal
Publisher : International Monetary Fund
ISBN 13 : 151354165X
Total Pages : 24 pages
Book Rating : 4.55/5 ( download)

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Download or read book Crowding-Out or Crowding-In? Public and Private Investment in India written by Girish Bahal and published by International Monetary Fund. This book was released on 2015-12-17 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Author :
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.15/5 ( download)

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Download or read book Does Public Capital Crowd Out Private Capital?. written by and published by . This book was released on 1990 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Aissatou Diallo
Publisher : International Monetary Fund
ISBN 13 : 1589068548
Total Pages : 28 pages
Book Rating : 4.44/5 ( download)

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Download or read book Successful Transitions from Public to Private-Sector Led Growth: Lessons for Benin written by Aissatou Diallo and published by International Monetary Fund. This book was released on 2021-12-03 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Author : Zidong An
Publisher : International Monetary Fund
ISBN 13 : 1513519565
Total Pages : 34 pages
Book Rating : 4.62/5 ( download)

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Download or read book On the Substitution of Private and Public Capital in Production written by Zidong An and published by International Monetary Fund. This book was released on 2019-11-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most macroeconomic models assume that aggregate output is generated by a specification for the production function with total physical capital as a key input. Implicitly this assumes that private and public capital stocks are perfect substitutes. In this paper we test this assumption by estimating a nested-CES production function whereas the two types of capital are considered separately along with labor as inputs. The estimation is based on our newly developed dataset on public and private capital stocks for 151 countries over a period of 1960-2014 consistent with Penn World Table version 9. We find evidence against perfect substitutability between public and private capital, especially for emerging and LIDCs, with the point estimate of the elasticity of substitution estimated closely around 3.

Author : Hilary Devine
Publisher : International Monetary Fund
ISBN 13 : 1513571567
Total Pages : 161 pages
Book Rating : 4.60/5 ( download)

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Download or read book Private Finance for Development written by Hilary Devine and published by International Monetary Fund. This book was released on 2021-05-14 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Covid-19 pandemic has aggravated the tension between large development needs in infrastructure and scarce public resources. To alleviate this tension and promote a strong and job-rich recovery from the crisis, Africa needs to mobilize more financing from and to the private sector.

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1557755418
Total Pages : 56 pages
Book Rating : 4.14/5 ( download)

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Download or read book Unproductive Public Expenditures written by International Monetary Fund and published by International Monetary Fund. This book was released on 2005-04-04 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public expenditure policy, together with efforts to raise revenue,is at the core of efficient and equitable adjustment. Public expenditureproductivity has critical implications for fiscal adjustment, particularly as the competition for limited public resources intensifies.By providing a framework for defining and analyzing public expenditureproductivity and unproductive expenditures, this pamphlet discusseshow economic policymakers may approach these issues.

Author : Ann Harrison
Publisher : University of Chicago Press
ISBN 13 : 0226318001
Total Pages : 675 pages
Book Rating : 4.04/5 ( download)

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Download or read book Globalization and Poverty written by Ann Harrison and published by University of Chicago Press. This book was released on 2007-11-01 with total page 675 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is because of—or in spite of—globalization? While anti-globalization activists mount loud critiques and the media report breathlessly on globalization’s perils and promises, economists have largely remained silent, in part because of an entrenched institutional divide between those who study poverty and those who study trade and finance. Globalization and Poverty bridges that gap, bringing together experts on both international trade and poverty to provide a detailed view of the effects of globalization on the poor in developing nations, answering such questions as: Do lower import tariffs improve the lives of the poor? Has increased financial integration led to more or less poverty? How have the poor fared during various currency crises? Does food aid hurt or help the poor? Poverty, the contributors show here, has been used as a popular and convenient catchphrase by parties on both sides of the globalization debate to further their respective arguments. Globalization and Poverty provides the more nuanced understanding necessary to move that debate beyond the slogans.

Author : Manfred M. Fischer
Publisher : Springer Science & Business Media
ISBN 13 : 366204546X
Total Pages : 482 pages
Book Rating : 4.66/5 ( download)

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Download or read book Knowledge, Complexity and Innovation Systems written by Manfred M. Fischer and published by Springer Science & Business Media. This book was released on 2013-11-27 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years there has been growing scientific interest in the triangular relationship between knowledge. complexity and innovation systems. The concept of'innovation systems' carries the idea that innovations do not originate as isolated discrete phenomena, but are generated through the interaction of a number of actors or agents. This set of actors and interactions possess certain specific characteristics that tend to remain over time. Such characteristics are also shared by national, regional, sectoral and technological interaction systems. They can all be represented as sets of [institutional] actors and interactions, whose ultimate goal is the production and diffusion of knowledge. The major theoretical and policy problem posed by these systems is that knowledge is generated not only by individuals and organisations, but also by the often complex pattern of interaction between them. To understand how organisations create new products, new production techniques and new organisational forms is important. An even more fundamental need is to understand how organisations create new knowledge if this knowledge creation lies in the mobilisation and conversion of tacit knowledge. Although much has been written about the importance of knowledge in management, little attention has been paid to how knowledge is created and how the knowledge creation process is managed. The third component of the research triangle concerns complexity.