वित्त मंत्रालय के तहत एक स्वायत्त अनुसंधान संस्थान

 

Did public investment crowd out private investment in India?

Publication date

जुल, 2020

Details

NIPFP Working Paper No. 312

Authors

Honey Karun, Hrishikesh Vinod, and Lekha S. Chakraborty

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 Classification: E62, C32, H62
 
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