Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/194873
Authors: 
Fonseca, Felipe
Gómez-Zaldívar, Manuel
Ventosa-Santaulària, Daniel
Year of Publication: 
2019
Series/Report no.: 
Economics Discussion Papers No. 2019-21
Abstract: 
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.
Subjects: 
economic activity
federal public investment
cointegration
JEL: 
N16
H54
C32
Creative Commons License: 
https://creativecommons.org/licenses/by/4.0/
Document Type: 
Working Paper

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