Efficiency-Adjusted Public Capital, Capital Grants, and Growth - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Efficiency-Adjusted Public Capital, Capital Grants, and Growth write by Ernesto Crivelli. This book was released on 2017-07-25. Efficiency-Adjusted Public Capital, Capital Grants, and Growth available in PDF, EPUB and Kindle. Recent literature has explored the relationship between efficiency-adjusted public capital and economic growth. A debate on whether capital grants, and especially EU funds actually contribute to growth has gained prominence lately. This paper empirically assesses the relationship between the quality of public investment, capital grants, and growth in a sample of 43 emerging and peripheral economies over 1991-2015. To this end, the contribution of public capital to growth is estimated using efficiency-adjusted public capital stock series, constructed reflecting the quality of public investment management institutions. In addition, the determinants of effective public investment are analyzed. The results suggest that capital grants contribute positively to effective public investment, and the latter is significant in explaining variations in economic growth. Finally, the paper illustrates the impact of raising EU funds absorption on potential growth in emerging and peripheral EU countries.
Efficiency-Adjusted Public Capital and Growth
Efficiency-Adjusted Public Capital and Growth - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Efficiency-Adjusted Public Capital and Growth write by Mr.Sanjeev Gupta. This book was released on 2011-09-01. Efficiency-Adjusted Public Capital and Growth available in PDF, EPUB and Kindle. This paper constructs an efficiency-adjusted public capital stock series and re-examines the public capital and growth relationship for 52 developing countries. The results show that public capital is a significant contributor to economic growth. Although the estimated coefficient for the income share of public capital is larger in middle- than in low-income countries, the opposite is true for the marginal product of public capital. The quality of public investment, as measured by variables capturing the adequacy of project selection and implementation, are statistically significant in explaining variations in economic growth, a result mainly driven by low-income countries.
The Quality of Public Investment
The Quality of Public Investment - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Quality of Public Investment write by Shankha Chakraborty. This book was released on 2009-07. The Quality of Public Investment available in PDF, EPUB and Kindle. This paper presents a simultaneous assessment of the relationship between economic performance and three groups of economic reforms: domestic finance, trade, and the capital account. Among these, domestic financial reforms, and trade reforms, are robustly associated with economic growth, but only in middle-income countries. In contrast, we do not find any systematic positive relationship between capital account liberalization and economic growth. Moreover, the effect of domestic financial reforms on economic growth in middle-income countries is explained by improvements in measured aggregate TFP growth, not by higher aggregate investment. We present evidence that variation in the quality of property rights helps explain the heterogeneity of the effectiveness of financial and trade reforms in developing countries. The evidence suggests that sufficiently developed property rights are a precondition for reaping the benefits of economic reform. Our results are robust to endogeneity bias and a number of alternative specifications.
Public Capital and Economic Growth
Public Capital and Economic Growth - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Public Capital and Economic Growth write by David Alan Aschauer. This book was released on 1998. Public Capital and Economic Growth available in PDF, EPUB and Kindle.
The Macroeconomic Effects of Public Investment
The Macroeconomic Effects of Public Investment - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Macroeconomic Effects of Public Investment write by Mr.Abdul Abiad. This book was released on 2015-05-04. The Macroeconomic Effects of Public Investment available in PDF, EPUB and Kindle. This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to identify the causal effect of government investment in a sample of 17 OECD economies since 1985 and model simulations, the paper finds that increased public investment raises output, both in the short term and in the long term, crowds in private investment, and reduces unemployment. Several factors shape the macroeconomic effects of public investment. When there is economic slack and monetary accommodation, demand effects are stronger, and the public-debt-to-GDP ratio may actually decline. Public investment is also more effective in boosting output in countries with higher public investment efficiency and when it is financed by issuing debt.
