scholarly journals The Relationship Between Public and Private Investment

1999 ◽  
Author(s):  
Sharon J. Erenburg
Keyword(s):  
Private Investment ◽  
Public And Private ◽  
The Relationship

scholarly journals The Impact of Public Investment on Private Investment: A Disaggregated Analysis

2006 ◽  
Vol 45 (4II) ◽  
pp. 639-663 ◽  
Author(s):  
Noman Saeed ◽  
Kalim Hyder ◽  
Asghar Ali
Keyword(s):  
Public Investment ◽  
Empirical Studies ◽  
Empirical Work ◽  
Private Investment ◽  
Economic Literature ◽  
Public And Private ◽  
Multiplier Effect ◽  
The Impact ◽  
The Relationship ◽  
Statistical Results

The impact of public investment on private investment has been a matter of great interest in economic literature. Classical economists believed that public investment crowds out private investment. While Keynesian economists counter this argument and argued that public investment increases or crowds in private investment because of the multiplier effect. Many of the empirical studies have directly examined this by testing whether a statistically significant relationship exists or not, between public investment and private investment. The empirical work appears with mixed statistical results on the relationship between public and private investment. Results of Erenburg and Wohar (1995), Pereira (2001, 2003), Pereira and Roca-Sagales (2001), Hyder (2002) and Naqvi (2002) showed that public investment crowds in private investment while Pradhan, Ratha and Sarma (1990), Haque and Montiel (1993), Ahmed (1994), Voss (2002) and Narayan (2004) showed that public investment crowds out private investment.

scholarly journals Crowding-in or Crowding-out? Modelling the Relationship between Public and Private Fixed Capital Formation Using Co-integration Analysis: The Case of Pakistan 1964-2000

2002 ◽  
Vol 41 (3) ◽  
pp. 255-276 ◽  
Author(s):  
Naveed H. Naqvi
Keyword(s):  
Economic Growth ◽  
Positive Impact ◽  
Public Investment ◽  
Unit Roots ◽  
Private Investment ◽  
Annual Data ◽  
Public And Private ◽  
Fixed Capital Formation ◽  
Private And Public ◽  
The Relationship

This paper uses the Co-integrating VAR’s [Johansen (1988); Ericsson, et al. (1998)] to examine the relationship between economic growth, public investment, and private investment in the presence of unit roots. Exogeneity is not implicitly assumed but explicitly tested for, and evidence of co-integration and feedback between public and private investment leads to a model in the form of a parsimonious VAR. The analysis is conducted using 37 years of annual data for Pakistan. The analysis suggests that public investment has a positive impact on private investment, and that economic growth drives both private and public investment as predicted by the accelerator-based models.

scholarly journals Double elevation: Autonomous weapons and the search for an irreducible law of war

2020 ◽  
Vol 33 (2) ◽  
pp. 289-312
Author(s):  
Ioannis Kalpouzos
Keyword(s):  
Artificial Intelligence ◽  
Private Investment ◽  
Central Feature ◽  
Military Technology ◽  
Public And Private ◽  
Law Of War ◽  
Autonomous Weapons ◽  
The Relationship ◽  
Meaningful Role

AbstractWhat should be the role of law in response to the spread of artificial intelligence in war? Fuelled by both public and private investment, military technology is accelerating towards increasingly autonomous weapons, as well as the merging of humans and machines. Contrary to much of the contemporary debate, this is not a paradigm change; it is the intensification of a central feature in the relationship between technology and war: double elevation, above one’s enemy and above oneself. Elevation above one’s enemy aspires to spatial, moral, and civilizational distance. Elevation above oneself reflects a belief in rational improvement that sees humanity as the cause of inhumanity and de-humanization as our best chance for humanization. The distance of double elevation is served by the mechanization of judgement. To the extent that judgement is seen as reducible to algorithm, law becomes the handmaiden of mechanization. In response, neither a focus on questions of compatibility nor a call for a ‘ban on killer robots’ help in articulating a meaningful role for law. Instead, I argue that we should turn to a long-standing philosophical critique of artificial intelligence, which highlights not the threat of omniscience, but that of impoverished intelligence. Therefore, if there is to be a meaningful role for law in resisting double elevation, it should be law encompassing subjectivity, emotion and imagination, law irreducible to algorithm, a law of war that appreciates situated judgement in the wielding of violence for the collective.

Public and Private Spending: Some Australian Evidence

1995 ◽  
Vol 6 (1) ◽  
pp. 41-51
Author(s):  
Mehdi S. Monadjemi
Keyword(s):  
Public Investment ◽  
Government Expenditure ◽  
Private Investment ◽  
Crowding Out ◽  
Empirical Relationships ◽  
Public And Private ◽  
Investment Expenditure ◽  
Private Expenditure ◽  
Private Spending ◽  
The Relationship

This paper examines empirical relationships between government expenditure and private spending in Australia, to see whether government expenditure reduces, or crowds out, private expenditure or encourages it. Particular attention is paid to the effect on private investment expenditure and the possibility of a change occuring in the relationship between public and private is examined. Regression analysis found no significant evidence of crowding out. Public investment was found to compliment private investment in the period before 1974, but not in the period since then.

scholarly journals How Plausible the Predicted Superiority of Private Over Public Investment Still Stands, If Ever?

2021 ◽  
Vol 13 (10) ◽  
pp. 87
Author(s):  
Benjamin García Páez
Keyword(s):  
Public Investment ◽  
Empirical Work ◽  
Private Investment ◽  
Developed Countries ◽  
Public And Private ◽  
The Public ◽  
Financial Liberalisation ◽  
Work Done ◽  
The Relationship ◽  
Theoretical Issues

This essay aims to test the hypothesis held by the Theory of Financial Liberalisation in the sense that financial resources diverted by non-market forces are inefficiently allocated, ergo, public investment is less productive than private investment. The relationship between public and        private investment and the productivity in both the public and the private     sectors are then analysed in search of empirical evidence to discern the endurance of such hypothesis throughout the changing evolution of the Mexican financial system since 1970 up to 2019. The paper is arranged in four sections. Firstly, some historical financial liberalisation events are put forward. Secondly, theoretical issues concerning the concept    of productivity of the two types of investment are discussed. It also reviews empirical work done on the productivity in less-developed countries. Thirdly, an attempt to measure productivity of both public and private investment in Mexico is made. It then describes the methodology and the estimation results obtained for Mexico are launched. Finally, main conclusions are delivered.

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