Does Public Investment Crowd Out Private Investment? Evidence On Investment And Growth In Asia, 1971-2000

Naveed H. Naqvi and Christopher Tsoukis

European Research Studies Journal, 2003, vol. VI, issue 1-2, 65-80

Abstract: The paper looks at the growth and investment performance of six Asian countries - Bangladesh, India, Indonesia, Malaysia, Pakistan and Thailand. Having discussed the time series properties of the public and private investment series and the GDP growth rate, the paper goes on to use the concept of Granger-block causality in a three-variable VAR in the presence of possible unit roots. The analysis is based on the lag-augmented VAR concept developed by Toda and Yamamoto (1995). We find that no single relationship holds in all countries and that the relationship between public and private investment varies from country to country.

Keywords: Public investment; private investment; Granger-causality; Asia (search for similar items in EconPapers)
JEL-codes: C32 E22 E62 (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ers:journl:v:vi:y:2003:i:1-2:p:65-80

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