Did public investment crowd out private investment in India?
Hrishikesh Vinod and
Lekha S. Chakraborty ()
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Honey Karun: International Monetary Fund
Lekha S. Chakraborty: National Institute of Public Finance and Policy
Working Papers from National Institute of Public Finance and Policy
Our paper uses the ME (Maximum Entropy) bootstrap method to overcome the econometric constraints of using a short time series after the publication of a new macroeconomic series in India. We use a short time series (quarterly data) of stationary and nonstationary variables between 2011-2016 to confirm the positive role of public infrastructure investment. The significant result has policy implications in terms of the current debate, whether public investment `crowds-in' rather than `crowds-out' private corporate investment in India.
JEL-codes: C32 E62 H62 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mac
Note: Working Paper 312, 2020
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Persistent link: https://EconPapers.repec.org/RePEc:npf:wpaper:20/312
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