Artigo em revista científica Q1
Is there a nonlinear relationship between public investment and private investment? Evidence from 21 Organization for Economic Cooperation and Development countries
Sofia São Marcos (Marcos, S. S.); Sofia Vale (Vale, S.);
Título Revista
International Journal of Finance and Economics
Ano (publicação definitiva)
2024
Língua
Inglês
País
Estados Unidos da América
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Abstract/Resumo
This paper studies the relationship between public investment and private investment in a sample of 21 Organization for Economic Cooperation and Development (OECD) countries between 2000 and 2019. Using panel data nonlinear threshold regression models, the empirical results show that there exist threshold levels for the share of public investment in private investment, the real Gross Domestic Product (GDP) growth rate and the real interest rate that affect the relationship between public and private investment. All estimates support a crowding-in effect of public investment on private investment. In terms of policy prescriptions, by increasing public investment, OECD governments can expect positive spillovers to private investment.
Agradecimentos/Acknowledgements
The authors are grateful to two anonymous referees and the editor for useful comments and suggestions.
Palavras-chave
OECD,Private investment,Public investment,Threshold model
  • Economia e Gestão - Ciências Sociais
Registos de financiamentos
Referência de financiamento Entidade Financiadora
UIDB/00315/2020 Fundação para a Ciência e a Tecnologia