메뉴 건너뛰기




Volumn 33, Issue 5, 2005, Pages 575-602

The effects of public investment on private investment in developing economies

Author keywords

Capital markets; Credit; Developing economies; Investment; Public expenditure

Indexed keywords


EID: 24944507382     PISSN: 10911421     EISSN: None     Source Type: Journal    
DOI: 10.1177/1091142105277627     Document Type: Review
Times cited : (96)

References (49)
  • 1
    • 0001537962 scopus 로고
    • Optimal investment under uncertainty
    • Abel, Andrew B. 1983. Optimal investment under uncertainty. American Economic Review 73:228-33.
    • (1983) American Economic Review , vol.73 , pp. 228-233
    • Abel, A.B.1
  • 2
    • 24944459988 scopus 로고
    • The effect of irreversibility and uncertainty on capital accumulation
    • Cambridge, MA: National Bureau of Economic Research
    • bel, Andrew B., and Janice C. Eberly. 1995. The effect of irreversibility and uncertainty on capital accumulation. NBER Working Paper Series no. 5363. Cambridge, MA: National Bureau of Economic Research.
    • (1995) NBER Working Paper Series No. 5363 , vol.5363
    • Bel, A.B.1    Eberly, J.C.2
  • 3
    • 0039974260 scopus 로고    scopus 로고
    • Volatility and the investment response
    • Cambridge, MA: National Bureau of Economic Research
    • Aizenman, Joshua, and Nancy Marion. 1996. Volatility and the investment response. NBER Working Paper Series no. 5841. Cambridge, MA: National Bureau of Economic Research.
    • (1996) NBER Working Paper Series No. 5841 , vol.5841
    • Aizenman, J.1    Marion, N.2
  • 4
    • 45249127754 scopus 로고
    • Is public expenditure productive?
    • Aschauer, David A. 1989a. Is public expenditure productive? Journal of Monetary Economics 23:177-200.
    • (1989) Journal of Monetary Economics , vol.23 , pp. 177-200
    • Aschauer, D.A.1
  • 5
    • 0001806642 scopus 로고
    • Public investment and productivity growth in the Group of Seven
    • _. 1989b. Public investment and productivity growth in the Group of Seven. Economic Perspectives 13:17-25.
    • (1989) Economic Perspectives , vol.13 , pp. 17-25
  • 6
    • 0006478276 scopus 로고
    • Why is infrastructure important?
    • ed. Alicia Munnell. Boston: Conference Series of Federal Reserve Bank of Boston
    • _. 1990. Why is infrastructure important? In Is there a shortfall in public capital investment? ed. Alicia Munnell. Boston: Conference Series of Federal Reserve Bank of Boston.
    • (1990) In Is There A Shortfall in Public Capital Investment?
  • 7
    • 0001316944 scopus 로고
    • Substitutability, complementarity, and the impact of government spending on economic activity
    • Earth, James R., and Joseph J. Cordes. 1980. Substitutability, complementarity, and the impact of government spending on economic activity. Journal of Economics and Business 32 (3): 235-42.
    • (1980) Journal of Economics and Business , vol.32 , Issue.3 , pp. 235-242
    • Earth, J.R.1    Cordes, J.J.2
  • 8
    • 84995453303 scopus 로고
    • Irreversibility, uncertainty and cyclical investment
    • Bernanke, Ben S. 1983. Irreversibility, uncertainty and cyclical investment. Quarterly Journal of Economics 98:85-106.
    • (1983) Quarterly Journal of Economics , vol.98 , pp. 85-106
    • Bernanke, B.S.1
  • 9
    • 0029488278 scopus 로고
    • Property rights and investment incentives: Theory and evidence from Ghana
    • Besley, Timothy J. 1995. Property rights and investment incentives: Theory and evidence from Ghana. Journal of Political Economy 103 (5): 903-37.
    • (1995) Journal of Political Economy , vol.103 , Issue.5 , pp. 903-937
    • Besley, T.J.1
  • 10
    • 0000386917 scopus 로고
    • Government policy and private investment in developing countries
    • Blejer, Mario, and Mohsin Khan. 1984. Government policy and private investment in developing countries. IMF Staff Papers 31:379-403.
    • (1984) IMF Staff Papers , vol.31 , pp. 379-403
    • Blejer, M.1    Khan, M.2
  • 11
    • 0006658794 scopus 로고    scopus 로고
    • Trends in private investment in developing countries: Statistics for 1970-1998
    • Washington, DC: World Bank
    • Bouton, Lawrence, and Marisurz A. Sumlinski. 2000. Trends in private investment in developing countries: Statistics for 1970-1998. International Finance Corporation Discussion Paper no. 41. Washington, DC: World Bank.
    • (2000) International Finance Corporation Discussion Paper No. 41 , vol.41
    • Bouton, L.1    Sumlinski, M.A.2
  • 12
    • 0000134506 scopus 로고
    • On the sign of the investment-uncertainty relationship
    • Caballero, Ricardo J. 1991. On the sign of the investment-uncertainty relationship. American Economic Review 81:279-88.
    • (1991) American Economic Review , vol.81 , pp. 279-288
    • Caballero, R.J.1
  • 13
    • 0039647674 scopus 로고
    • Government spending, taxes, economic growth
    • Cashin, Paul. 1995. Government spending, taxes, economic growth. IMF Staff Papers 42 (2): 237-69.
    • (1995) IMF Staff Papers , vol.42 , Issue.2 , pp. 237-269
    • Cashin, P.1
  • 14
    • 0032235805 scopus 로고    scopus 로고
    • Institutions, investment and growth: New cross-country and panel data evidence
    • Dawson, John W. 1998. Institutions, investment and growth: New cross-country and panel data evidence. Economic Inquiry 36 (4): 603-19.
    • (1998) Economic Inquiry , vol.36 , Issue.4 , pp. 603-619
    • Dawson, J.W.1
  • 15
    • 0032335308 scopus 로고    scopus 로고
    • Further evidence on the relationship between economic freedom and economic growth
    • De Haan, Jakop, and Clemens L. Siermann. 1998. Further evidence on the relationship between economic freedom and economic growth. Public Choice 95:363-80.
    • (1998) Public Choice , vol.95 , pp. 363-380
    • De Haan, J.1    Siermann, C.L.2
  • 16
    • 79151473009 scopus 로고    scopus 로고
    • Private investment in developing countries: The effects of commodity shocks and uncertainty
    • Oxford: Oxford University Press
    • Dehn, Jan. 2000. Private investment in developing countries: The effects of commodity shocks and uncertainty. University of Oxford Working Paper Series no. 11. Oxford: Oxford University Press.
    • (2000) University of Oxford Working Paper Series No. 11 , vol.11
    • Dehn, J.1
  • 18
    • 21844505627 scopus 로고
    • Public and private investment: Are there casual linkages?
    • Erenburg, Sharon J., and Mark E. Wohar. 1995. Public and private investment: Are there casual linkages? Journal of Macroeconomics 17(1): 1-30.
    • (1995) Journal of Macroeconomics , vol.17 , Issue.1 , pp. 1-30
    • Erenburg, S.J.1    Wohar, M.E.2
  • 19
    • 0010671567 scopus 로고
    • Are government activities productive? Evidence from a panel of U.S. states
    • Evans, Paul, and Gregorios Karras. 1994. Are government activities productive? Evidence from a panel of U.S. states. Review of Economics and Statistics 76 (1): 1-11.
    • (1994) Review of Economics and Statistics , vol.76 , Issue.1 , pp. 1-11
    • Evans, P.1    Karras, G.2
  • 20
    • 0027708446 scopus 로고
    • Exchange rates and investment in United States industry
    • Goldberg, Linda S. 1993. Exchange rates and investment in United States industry. Review of Economics and Statistics 75:575-89.
    • (1993) Review of Economics and Statistics , vol.75 , pp. 575-589
    • Goldberg, L.S.1
  • 21
    • 0003028174 scopus 로고
    • Private investment in developing countries: An empirical analysis
    • Greene, Joshua, and Delano Villanueva. 1991. Private investment in developing countries: An empirical analysis IMF Staff Paper 38 (1): 33-58.
    • (1991) IMF Staff Paper , vol.38 , Issue.1 , pp. 33-58
    • Greene, J.1    Villanueva, D.2
  • 22
    • 0345593717 scopus 로고    scopus 로고
    • Financial liberalization and private investment: Evidence from Turkey
    • Guncavdi, Oner, Michael Bleaney, and Andrew McKay. 1998. Financial liberalization and private investment: Evidence from Turkey. Journal of Development Economics 57:443-55.
    • (1998) Journal of Development Economics , vol.57 , pp. 443-455
    • Guncavdi, O.1    Bleaney, M.2    McKay, A.3
  • 25
    • 0001339668 scopus 로고
    • The effects of price and cost uncertainty on investment
    • Hartman, Richard. 1972. The effects of price and cost uncertainty on investment. Journal of Economic Theory 5:258-66.
    • (1972) Journal of Economic Theory , vol.5 , pp. 258-266
    • Hartman, R.1
  • 26
    • 0000740902 scopus 로고
    • Panel data and unobservable individual effects
    • Hausman, Jerry, and William Taylor. 1981. Panel data and unobservable individual effects. Econometrica 49:1377-98.
    • (1981) Econometrica , vol.49 , pp. 1377-1398
    • Hausman, J.1    Taylor, W.2
  • 27
    • 0040099403 scopus 로고
    • Public-sector capital and productivity puzzle
    • Holtz-Eakin, Douglas. 1994. Public-sector capital and productivity puzzle. Review of Economics and Statistics 76 (1): 12-21.
    • (1994) Review of Economics and Statistics , vol.76 , Issue.1 , pp. 12-21
    • Holtz-Eakin, D.1
  • 29
    • 0003685812 scopus 로고
    • 1989, 1994, Washington, DC: International Monetary Fund
    • International Monetary Fund. 1985, 1989, 1994, 1999. Government finance statistics yearbook. Washington, DC: International Monetary Fund.
    • (1985) Government Finance Statistics Yearbook
  • 31
    • 17744371727 scopus 로고    scopus 로고
    • Public and private investment and the growth process in developing countries
    • Khan, Mohsin, and Manmohan S. Kumar. 1997. Public and private investment and the growth process in developing countries. Oxford Bulletin of Economics and Statistics 59:69-88.
    • (1997) Oxford Bulletin of Economics and Statistics , vol.59 , pp. 69-88
    • Khan, M.1    Kumar, M.S.2
  • 32
    • 0025188597 scopus 로고
    • Private investment and economic growth in developing countries
    • Khan, Mohsin, and Carmen M. Reinhart. 1990. Private investment and economic growth in developing countries. World Development 18 (1): 19-27.
    • (1990) World Development , vol.18 , Issue.1 , pp. 19-27
    • Khan, M.1    Reinhart, C.M.2
  • 33
    • 0001836001 scopus 로고
    • Why has productivity growth declined? Productivity and public investment
    • Munnell, Alicia H. 1990. Why has productivity growth declined? Productivity and public investment. New England Economic Review, January/February, pp. 3-22.
    • (1990) New England Economic Review , Issue.JANUARY-FEBRUARY , pp. 3-22
    • Munnell, A.H.1
  • 34
    • 21444461187 scopus 로고    scopus 로고
    • Public and private investment and economic growth in Mexico
    • Nazmi, Nader, and Miguel D. Ramirez. 1997. Public and private investment and economic growth in Mexico. Contemporary Economic Policy 15 (1): 65-75.
    • (1997) Contemporary Economic Policy , vol.15 , Issue.1 , pp. 65-75
    • Nazmi, N.1    Ramirez, M.D.2
  • 35
    • 0012878481 scopus 로고    scopus 로고
    • Properties of alternative estimators of dynamic panel models: An empirical analysis of cross-country data for the study of economic growth
    • ed. Cheng Hsiao, Kajal Lahiri, Lung-fei Lee, and Hashem M. Pesaran. Cambridge: Cambridge University Press
    • Nerlove, Marc. 2000. Properties of alternative estimators of dynamic panel models: An empirical analysis of cross-country data for the study of economic growth. In Analysis of panels and limited variable models, ed. Cheng Hsiao, Kajal Lahiri, Lung-fei Lee, and Hashem M. Pesaran. Cambridge: Cambridge University Press.
    • (2000) Analysis of Panels and Limited Variable Models
    • Nerlove, M.1
  • 36
    • 0000604269 scopus 로고
    • Biases in dynamic models with fixed effects
    • Nickell, Stephen J. 1981. Biases in dynamic models with fixed effects. Econometrica 49:1417-26.
    • (1981) Econometrica , vol.49 , pp. 1417-1426
    • Nickell, S.J.1
  • 37
    • 0031420098 scopus 로고    scopus 로고
    • Relative effects of public versus private investment spending on economic efficiency and growth in developing countries
    • Odedokun, Matthew O. 1997. Relative effects of public versus private investment spending on economic efficiency and growth in developing countries. Applied Economics 29:1325-36.
    • (1997) Applied Economics , vol.29 , pp. 1325-1336
    • Odedokun, M.O.1
  • 38
    • 0028559051 scopus 로고
    • Macroeconomic determinants of domestic private investment in Africa: An empirical analysis
    • Oshikoya, Temitope W. 1994. Macroeconomic determinants of domestic private investment in Africa: An empirical analysis. Economic Development and Cultural Change 42:573-96.
    • (1994) Economic Development and Cultural Change , vol.42 , pp. 573-596
    • Oshikoya, T.W.1
  • 39
    • 0000281418 scopus 로고
    • Irreversibility, uncertainty and investment
    • Pindyck, Robert S. 1991. Irreversibility, uncertainty and investment. Journal of Economic Literature 29 (3): 1110-48.
    • (1991) Journal of Economic Literature , vol.29 , Issue.3 , pp. 1110-1148
    • Pindyck, R.S.1
  • 40
    • 0030427899 scopus 로고    scopus 로고
    • Aggregate uncertainty, investment and asymmetric adjustment in the UK manufacturing sector
    • Price, Simon. 1996. Aggregate uncertainty, investment and asymmetric adjustment in the UK manufacturing sector. Applied Economics 28:1369-79.
    • (1996) Applied Economics , vol.28 , pp. 1369-1379
    • Price, S.1
  • 41
    • 0028584004 scopus 로고
    • Public and private investment in Mexico, 1950-90: An empirical analysis
    • Ramirez, Miguel D. 1994. Public and private investment in Mexico, 1950-90: An empirical analysis. Southern Economic Journal 61 (1): 1-17.
    • (1994) Southern Economic Journal , vol.61 , Issue.1 , pp. 1-17
    • Ramirez, M.D.1
  • 42
    • 3042846612 scopus 로고    scopus 로고
    • The impact of public investment on private investment spending in Latin America: 1980-95
    • _. 2000. The impact of public investment on private investment spending in Latin America: 1980-95. Atlantic Economic Journal 28 (2): 210-25.
    • (2000) Atlantic Economic Journal , vol.28 , Issue.2 , pp. 210-225
  • 43
    • 84925979151 scopus 로고
    • Error correction mechanisms
    • Salmon, Mark. 1982. Error correction mechanisms. Economic Journal 92:615-29.
    • (1982) Economic Journal , vol.92 , pp. 615-629
    • Salmon, M.1
  • 44
    • 0006773928 scopus 로고
    • Ranking economic liberty across countries
    • Scully, Gerald W., and David J. Slottje. 1991. Ranking economic liberty across countries. Public Choice 69 (2): 121-52.
    • (1991) Public Choice , vol.69 , Issue.2 , pp. 121-152
    • Scully, G.W.1    Slottje, D.J.2
  • 46
    • 0039197332 scopus 로고    scopus 로고
    • Ankara, Turkey: State Planning Organization
    • State Planning Organization. 1997. Economic and social indicators: 1950-1997. Ankara, Turkey: State Planning Organization.
    • (1997) Economic and Social Indicators: 1950-1997
  • 47
    • 0002872997 scopus 로고
    • Public capital and private sector performance
    • Tatom, John. A. 1991. Public capital and private sector performance. Federal Reserve Bank of St. Louis Review 73 (3): 3-15.
    • (1991) Federal Reserve Bank of St. Louis Review , vol.73 , Issue.3 , pp. 3-15
    • Tatom, J.A.1
  • 48
    • 24944448013 scopus 로고    scopus 로고
    • Explaining investment in the WAEMU
    • Washington, DC: International Monetary Fund
    • Vamvakidis, Athanasios. 1998. Explaining investment in the WAEMU. IMF Working Paper no 99. Washington, DC: International Monetary Fund.
    • (1998) IMF Working Paper No 99 , vol.99
    • Vamvakidis, A.1
  • 49
    • 0020379587 scopus 로고
    • Determinants of private investment in developing countries
    • Wai, U. Tun, and Chorng-huey Wong. 1982. Determinants of private investment in developing countries. Journal of Development Studies 19:19-36.
    • (1982) Journal of Development Studies , vol.19 , pp. 19-36
    • Wai, U.T.1    Wong, C.-H.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.