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Did public investment crowd out private investment in India?

Honey Karun, 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

Abstract: 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)
Pages: 12
Date: 2020-07
New Economics Papers: this item is included in nep-mac
Note: Working Paper 312, 2020
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