Investissement public et effets non linéaires des déficits budgétaires
AbstractWe propose a simple growth model in which the influence of fiscal deficits on public investment depends upon the ratio between public debt and GDP. When the public debt ratio is small, raising fiscal deficits yields positive effects, since public consumption may negatively adjust to the extra debt burden. However, when the public debt ratio is important, public consumption may no longer exert this role, and raising fiscal deficits reduces public investment. Our analysis using a panel data for OECD countries confirms the existence of non linear effects of fiscal deficits on public investment. JEL Classification ? H62, H63, E62.
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Bibliographic InfoArticle provided by De Boeck Université in its journal Recherches économiques de Louvain.
Volume (Year): 75 (2009)
Issue (Month): 3 ()
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Web page: http://www.cairn.info/revue-recherches-economiques-de-louvain.htm
deficit; public investment; non-linear effects of fiscal policy;
Other versions of this item:
- Alexandru Minea & Patrick Villieu, 2009. "Investissement public et effets non linéaires des déficits budgétaires," Discussion Papers (REL - Recherches Economiques de Louvain) 2009031, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
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