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Erscheinungsjahr: 
2024
Schriftenreihe/Nr.: 
ADB Economics Working Paper Series No. 737
Verlag: 
Asian Development Bank (ADB), Manila
Zusammenfassung: 
This paper analyzes the growth impact of public and private investment shocks based on a large sample of emerging and developing countries over the period 1980-2021 with a particular focus on the Asian region. We develop new measures of investment shocks based on cyclically adjusted investment data. Estimations using local projections suggest that public investment shocks play a much greater role in boosting economic growth in comparison with private investment shocks. In emerging market and developing economies (EMDEs) (including in Asia), the growth response to investment shocks is positive and much stronger in recessions relative to economic expansions. Finally, public investment shocks in EMDE and Asian samples crowd-in private investment and private consumption.
Schlagwörter: 
fiscal multipliers
public investment
private investment
JEL: 
C33
E22
H30
H50
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Dokumentart: 
Working Paper

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