The impact of public investment and infrastructure on private investment decisions
DOI:
https://doi.org/10.5902/1414650971216Keywords:
Private Investment, Infrastructure, Brazilian EconomyAbstract
This study presents an analysis of the determinants of private investment in Brazil between 1971 and 2016. Some investment theories are presented to support the empirical analysis, among which the neoclassical theory, the Keynesian theory, and the ambiguity that public spending has on developing economies. development. Through the methodology of autoregressive vectors, it is observed that public spending and the expansion of infrastructure have a positive impact on the investment decisions of the private sector. On the other hand, the increase in the cost of capital as well as taxes negatively influence the gross formation of fixed capital in the private sector.
Downloads
References
ASCHAUER, D. A. Does public capital crowd out private capital? Journal of Monetary Economics, v. 24, no 2, setembro,1989.
BARRO, R. J. Government Spending in a Simple Model of Endogeneous Growth. Journal of Political Economy, v. 98, nº 5, 1990.
CONTE FILHO, C. G. Uma análise empírica acerca do efeito do investimento público sobre o investimento privado no Brasil 1971 – 2018. Tese de doutorado. Universidade Federal do Rio de Janeiro, 2013.
FERREIRA, P. C. Investimento em infra-estrutura no Brasil: fatos estilizados e relações de longo prazo. Pesquisa e Planejamento Econômico, v. 26, no 2, agosto, 1996.
FRISCHTAK, C.; MOURÃO, J. O estoque de capital de infraestrutura no Brasil: uma abordagem setorial. Disponível em: https://joserobertoafonso.com.br/wp-content/uploads/2017/10/Estoque-de-Capital-Setorial-em-Infra-Brasil-22.08.2017-FINAL.pdf Acesso em: 30 de junho de 2022.
GUIMARÃES, I. A.; FREITAS, S. M. O papel do investimento em infraestrutura e sua relação com o desenvolvimento econômico no Brasil (1940 – 2018). Observatório de la economia latinoamericana, julho, 2019.
HIRSCHMAN, A. The strategy of economic development. New Haven: Yale University Press, 1958.
IBGE. Instituto Brasileiro de Geografia e Estatística. Disponível em: www.ibge.gov.br Acesso em: 3 de agosto de 2022.
IPEA. IpeData: base de dados macroeconômicos. Disponível em: www.ipeadata.gov.br Acesso em: 3 de agosto de 2022.
INGRAM, G.; KESSIDES, C. Infraestucture for Development. Finance & Development, 1994.
JOHANSEN, S. Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models. Econometrica, v. 59, no 6, p. 1551 – 1580, 1991.
KEYNES, J. M. A teoria geral do emprego, do juro e da moeda. São Paulo: Editora Atlas, 1992.
OLIVEIRA, G. Desafios da infraestrutura no Brasil. São Paulo: Trevisan, 2018.
RONCI, M. V. Uma nota sobre a especificação da função de investimento agregado para países em desenvolvimento. Revista Brasileira de Economia, vol. 42, 1988.
SERVÉN, L.; SOLIMANO, A. Striving for growth after adjustment: the role of capital formation. Washington, DC: The World Bank, 1993.
Published
How to Cite
Issue
Section
License
Copyright (c) 2023 Economia e Desenvolvimento
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
The journal reserves the right of making changes in the originals in a normative order, orthographic and grammatical, with the objective of maintaining the language cult pattern, respecting the authors success. The final tests will not be sent to the authors. The published papers become the Economics and Development propriety. The opinions issued by the article’s authors are their own responsibility.
