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Investissement public et effets non linéaires des déficits budgétaires


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  • Alexandru Minea
  • Patrick Villieu


We 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 Info

Article provided by De Boeck Université in its journal Recherches économiques de Louvain.

Volume (Year): 75 (2009)
Issue (Month): 3 ()
Pages: 281-311

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Handle: RePEc:cai:reldbu:rel_753_0281

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Keywords: deficit; public investment; non-linear effects of fiscal policy;

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Cited by:
  1. Patrick Villieu, 2011. "Quel objectif pour la dette publique à moyen terme ?," Working Papers halshs-00829660, HAL.
  2. Alexandru Minea & Patrick Villieu, 2011. "Dette publique, croissance et bien-être : une perspective de long terme," Working Papers halshs-00829647, HAL.


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