Abstract
The short- and long-term effects of public investment on economic growth continue to be vigorously debated worldwide and in Vietnam. This study employs the ARDL model to analyze the effect of public investment on Vietnam's economic development during the years 1995 to 2019 in order to augment empirical evidence on this topic. Research results show that growth in public investment, private investment and foreign investment all have a positive impact on economic growth in the long run. However, the short-term effect of public investment has not been confirmed. Similarly, the effect of public investment on economic growth is less than that of private investment. Based on empirical analysis, policy recommendations for improving the effectiveness of public investment in Vietnam are proposed.
Publisher
Journal of Eastern European and Central Asian Research
Subject
Marketing,Organizational Behavior and Human Resource Management,Strategy and Management,Economics and Econometrics,Finance,Business and International Management
Reference37 articles.
1. Asandului, M., Lupu, D., Maha, L.-G., & Viorică, D. (2021). The asymmetric effects of fiscal policy on inflation and economic activity in post-communist European countries. Post Communist Economies, 33(7), 899–919. https://doi.org/10.1080/14631377.2020.1867430
2. Aschauer, D. (1989). Does Public Capital Crowd Out Private Capital? Journal of Monetary Economics, 24, 171-188. https://doi.org/10.1016/0304-3932(89)90002-0
3. Aubyn, M.S. & Afonso, A. (2008). Macroeconomic Rates of Return of Public and Private Investment: Crowding- in and Crowding –out Effects. Department of Economics, Technical University of Lisbon, Working Paper Number WP/06/2008/DE/UECE.
4. Awode, S. (2019). Fiscal policy management and private investment in Nigeria: crowding-out or crowding-in effect? Journal Ekonomi & Study Pembangunan, 20(1), 11-26. https://doi.org/10.18196/jesp.20.1.5011
5. Bukhari, S., Ali, L., & Saddaqat, M., (2007). Public Investment and Economic Growth in the Three Little Dragons: Envidence from Heterogeneous Dynamic Panel Data, International Journal of Business and Information, Volume 2, number 1, 57-59.
Cited by
1 articles.
订阅此论文施引文献
订阅此论文施引文献，注册后可以免费订阅5篇论文的施引文献，订阅后可以查看论文全部施引文献