Does government investment crowd out private investment in China?

被引：35
|
作者：
Xu, Xiaoming [1 ]
Yan, Yanyang [1 ]
机构：
[1] Hunan Univ, Dept Finance & Stat, Changsha 410082, Hunan, Peoples R China
来源：
JOURNAL OF ECONOMIC POLICY REFORM | 2014年 / 17卷 / 01期
关键词：
government investment; structural vector auto regression models; private investment; crowding out; FISCAL-POLICY; MODEL;
D O I：
10.1080/17487870.2013.866897
中图分类号：
F0 [经济学]; F1 [世界各国经济概况、经济史、经济地理]; C [社会科学总论];
学科分类号：
0201 ; 020105 ; 03 ; 0303 ;
摘要：
This paper asks whether government investment "crowds out" or "crowds in" private investment in China. We divide government capital expenditures into two types: (1) investment that serves to provide public goods and infrastructure, and (2) investment in private industry and commerce. The results of structured vector auto-regressive analysis suggest that government investment in public goods in China "crowds in" private investment significantly, while government investment in private goods, industry and commerce, mainly through state-owned enterprises, "crowds out" private investment significantly.
引用
收藏
页码：1 / 12
页数：12
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