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Investissement public et effets non linéaires des déficits budgétaires

Author

Listed:
  • Alexandru Minea
  • Patrick Villieu

Abstract

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.

Suggested Citation

  • Alexandru Minea & Patrick Villieu, 2009. "Investissement public et effets non linéaires des déficits budgétaires," Recherches économiques de Louvain, De Boeck Université, vol. 75(3), pages 281-311.
    • Handle: RePEc:cai:reldbu:rel_753_0281
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    Cited by:

    1. Alexandru Minea & Patrick Villieu, 2010. "Dette publique, croissance et bien-être : une perspective de long terme," Post-Print halshs-00672605, HAL.
    2. BIKAI, J. Landry, 2015. "Fiscal Rules and Pro-cyclicality of the Fiscal Policy in CEMAC countries," MPRA Paper 78229, University Library of Munich, Germany.
    3. Abdenour, Redouan & Tounsi, Said, 2015. "Non-Linear Effects of Fiscal Policy on Economic Growth: Moroccan Case," MPRA Paper 69830, University Library of Munich, Germany, revised 2016.
    4. Boukhatem, Jamel & Kaabi, Malèk, 2015. "Dette publique, qualité institutionnelle et croissance économique dans les pays de la région MENA : analyse par la méthode des moments généralisés [Public debt, institutional quality and economic growth in MENA countries: a GMM approach]," MPRA Paper 65756, University Library of Munich, Germany, revised 23 Jul 2015.
    5. Patrick Villieu, 2011. "Quel objectif pour la dette publique à moyen terme ?," Revue d'Économie Financière, Programme National Persée, vol. 103(3), pages 79-98.

    More about this item

    Keywords

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    JEL classification:

    • 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; Modern Monetary Theory

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