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Inversión privada, gasto público y presión tributaria en América Latina

Author

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  • Luis Felipe Brito-Gaona
  • Emma M. Iglesias

Abstract

This paper looks for empirical evidence to show if a very interventionist government stimulates or not private investment in Latin America. Using the same model as Caballero-Urdiales y López-Gallardo (2012), we extend their analysis from five Latin-American countries to all Latin America. The results from our estimated elasticities show evidence in support of three hypothesis: (1) that tax burden (taxes on income and consumption) has significant effects on privateinvestment; (2) that public investment has a crowding out effect with private investment; (3) and that in order to stimulate private investment, the government should have very little intervention.

Suggested Citation

  • Luis Felipe Brito-Gaona & Emma M. Iglesias, 2017. "Inversión privada, gasto público y presión tributaria en América Latina," Estudios de Economia, University of Chile, Department of Economics, vol. 44(2 Year 20), pages 131-156, December.
    • Handle: RePEc:udc:esteco:v:44:y:2017:i:2:p:131-156
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    File URL: http://estudiosdeeconomia.uchile.cl/index.php/EDE/article/view/47521/50403
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    More about this item

    Keywords

    Private investment; gross domestic produc; public investment; income tax; value added tax;
    All these keywords.

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies
    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures

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