Public and private investments: Long-run asymmetric effects in France and the US

Maurizio Baussola () and Gianni Carvelli

Finance Research Letters, 2023, vol. 58, issue PA

Abstract: We analyse whether private investments are impacted asymmetrically by public investments and how any asymmetry evolves over time. We conduct time series analyses for France and the US within a flexible empirical framework exploiting quarterly data over 1960Q1–2022Q4. The results are summarized as follows: France's private investments are positively impacted by public investments both in the short- and long-run; public investments have a neutral or negative effect on private investments in the US; the asymmetric effects in France become significant and persistent after 10 quarters; some evidence of asymmetry emerges for the US in the long-run.

Keywords: Asymmetric effects; Cointegration; NARDL; Public investments; Private investments (search for similar items in EconPapers)
JEL-codes: E62 H72 O47 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S154461232300689X
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:58:y:2023:i:pa:s154461232300689x

DOI: 10.1016/j.frl.2023.104317

Access Statistics for this article

Finance Research Letters is currently edited by R. Gençay

More articles in Finance Research Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().