Is privatisation good for investment in Australia?

McKenzie, Margaret 2007, Is privatisation good for investment in Australia?, in Proceedings of the 36th Australian Conference of Economists, Conference Design, Hobart, Tas., pp. 1-25.

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Title Is privatisation good for investment in Australia?
Author(s) McKenzie, Margaret
Conference name Australian Conference of Economists (36th: 2007: Hobart, Tas.)
Conference location Hobart, Tas.
Conference dates 24-26 Sep. 2007
Title of proceedings Proceedings of the 36th Australian Conference of Economists
Editor(s) Blacklow, Paul
Publication date 2007
Conference series Australian Conference of Economists
Start page 1
End page 25
Publisher Conference Design
Place of publication Hobart, Tas.
Summary Privatisation was expected to promote investment in the economy as part of improving dynamic efficiency. The relation between aggregate public and private investment in Australia is investigated in an endogeneous ECM framework. Model selection for a simple investment function allows restrictions for neoclassical crowding out or Keynesian crowding in (after Aschauer 1989) in a small open economy. An ECM is estimated including annual aggregate private investment, public investment, income, rate of return, average interest cost, exchange rate and inventories from 1960 to 2005. Public capital appears unresponsive to shocks and crowding out is not evident.
Notes ACE07
Language eng
Field of Research 140299 Applied Economics not elsewhere classified
HERDC Research category E1 Full written paper - refereed
Copyright notice ©2007, The Authors
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