1.

Record Nr.

UNINA9910458751703321

Autore

Warner Andrew M.

Titolo

Public investment as an engine of growth / / Andrew M. Warner

Pubbl/distr/stampa

[Washington, District of Columbia] : , : International Monetary Fund, , 2014

©2014

ISBN

1-4983-4658-8

1-4983-9572-4

1-4843-7968-3

Descrizione fisica

1 online resource (77 p.)

Collana

IMF Working Paper ; ; WP/14/148

Disciplina

332.67252

Soggetti

Public investments

Economic development

Electronic books.

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Description based upon print version of record.

Nota di bibliografia

Includes bibliographical references.

Nota di contenuto

Cover; Table of Contents; 1. Introduction; 2. Framework; 3. Empirical Section on the Impact of Public Investment Drives; A. Empirical Results; B. Post-1990 evidence; C. Sensitivity of the results to an alternative method of selecting boom years; D. Crowding in or crowding out?; E. A comparison of two major episodes: pre and post 1990; 4. Five Case Studies; A. Mexico; B. Bolivia; C. Korea; D. Taiwan province of China; E. Philippines; 5. The World Bank's Project Investment Upsurge; 6. Summary and Conclusions; 7. References; 8. Appendix I: Additional Regression Results

9. Appendix II: Eighteen cases of public investment booms

Sommario/riassunto

This paper looks at the empirical record whether big infrastructure and public capital drives have succeeded in accelerating economic growth in low-income countries. It looks at big long-lasting drives in public capital spending, as these were arguably clear and exogenous policy decisions. On average the evidence shows only a weak positive association between investment spending and growth and only in the same year, as lagged impacts are not significant. Furthermore, there is little evidence of long term positive impacts. Some individual countries



may be exceptions to this general result