Public investment and economic activity in Mexico, 1925-1981
Manuel Gómez-Zaldívar and
Daniel Ventosa-Santaulària ()
No 2019-21, Economics Discussion Papers from Kiel Institute for the World Economy (IfW)
Mexican economic historiography recognizes the key role that public investment played in the country's economic performance from the post-revolutionary period until the beginning of the economic liberalization that began in the mid-1980s. However, there is no concrete empirical evidence that this was the case. In this study, the authors construct a historical database of public investment - both total and broken down into its main components - for the period from 1925 to 1981, in order to measure the impact it had on economic activity. Given the possible presence of crowding-out effects between public investment and private investment, in their analysis the authors control for the latter. The results suggest that public investment had a significant impact on output one which varies depending on the category of public investment considered.
Keywords: economic activity; federal public investment; cointegration (search for similar items in EconPapers)
JEL-codes: N16 H54 C32 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-his
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Journal Article: Public investment and economic activity in Mexico, 1925-1981 (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifwedp:201921
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