Title: Interactions between Regional Public and Private Investment: Evidence from Japanese Prefectures
Abstract: This paper examines the effects of government investment on private sector capital investment by investigating Japanese prefecture data. Empirical results show that crowding-out effect is observed in some sectors especially in rural areas where the government had invested heavily before the 1990s. This suggests that public investment is not necessarily useful to stimulate the economic activities through private capital formation there.
Publication Year: 2016
Publication Date: 2016-03-01
Language: en
Type: preprint
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