Do public investments crowd out private investments? Fresh evidence from Fiji

Narayan, Paresh Kumar 2004, Do public investments crowd out private investments? Fresh evidence from Fiji, Journal of policy modeling, vol. 26, no. 6, pp. 747-753.


Title Do public investments crowd out private investments? Fresh evidence from Fiji
Author(s) Narayan, Paresh Kumar
Journal name Journal of policy modeling
Volume number 26
Issue number 6
Start page 747
End page 753
Publisher Elsevier
Place of publication Amsterdam, The Netherlands
Publication date 2004-09
ISSN 0161-8938
1873-8060
Summary In this paper, we investigate whether government investment crowds out or crowds in private investment for Fiji over the period 1950–2001. We begin by searching endogenously for break points in the data series using the Zivot and Andrews [J. Business Economic Stat. 10 (1992) 251–270] test. Upon finding that 1975 is the statistically significant break date, we divide the sample into two. Using the error correction mechanism test, we find that government and private investments are cointegrated over the period 1950–1975, but not for the period 1976–2001. We also find that in the former period government investment has crowded in private investment, while in the latter period the relationship between government and private investments has been statistically weak.
Language eng
Field of Research 140302 Econometric and Statistical Methods
HERDC Research category C1.1 Refereed article in a scholarly journal
Copyright notice ©2004, Society for Policy Modeling
Persistent URL http://hdl.handle.net/10536/DRO/DU:30024656

Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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