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The Complementarity of Public and Private Capital and the Optimal Rate of Return to Government Investment

✍ Scribed by Seiritsu Ogura and Gary Yohe

Book ID
124309852
Publisher
MIT Press
Year
1977
Tongue
English
Weight
229 KB
Volume
91
Category
Article
ISSN
0033-5533

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## Abstract The paper attempts to address the issue of complementarity and substitutability of state capital to private sector investment activities in a neoclassical growth framework. It employs a co‐integrated vector autoregressive model to account for potential endogeneity and nonstationarity pr