Can an Increase in Public Investment Sustainably Lift Economic Growth?:
This paper seeks to identify the conditions under which raising public investment can sustainably lift growth without deteriorating public finances. To do so, it relies on a range of simulations using three different macro-structural models. According to the simulations, OECD governments could finan...
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| Main Author: | |
|---|---|
| Other Authors: | , , |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
2016
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| Series: | OECD Economics Department Working Papers
|
| Subjects: | |
| Links: | https://doi.org/10.1787/a25a7723-en |
| Summary: | This paper seeks to identify the conditions under which raising public investment can sustainably lift growth without deteriorating public finances. To do so, it relies on a range of simulations using three different macro-structural models. According to the simulations, OECD governments could finance a ½ percentage point of GDP investment-led stimulus for three to four years on average in OECD countries without raising the debt-to-GDP ratio in the medium term, provided projects are sound. After one year, the average output gains for the large advanced economies of such a stimulus amount to 0.4-0.6%. However, the gains are particularly uncertain for Japan. Reprioritising spending in later years would lead to average long-term output gains of between 0.5 to 2% in the large advanced economies. Those gains depend on the assumptions made on the rate of return. Hysteresis reinforces the case for an investment-led stimulus. Output gains will also be higher if the stimulus is combined with structural reforms and if countries act collectively |
| Physical Description: | 1 Online-Ressource (37 Seiten) |
| DOI: | 10.1787/a25a7723-en |
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| indexdate | 2025-01-11T15:45:32Z |
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| spellingShingle | Mourougane, Annabelle Can an Increase in Public Investment Sustainably Lift Economic Growth? Economics |
| title | Can an Increase in Public Investment Sustainably Lift Economic Growth? |
| title_alt | Une augmentation de l'investissement public peut-elle durablement augmenter la croissance? |
| title_auth | Can an Increase in Public Investment Sustainably Lift Economic Growth? |
| title_exact_search | Can an Increase in Public Investment Sustainably Lift Economic Growth? |
| title_full | Can an Increase in Public Investment Sustainably Lift Economic Growth? Annabelle Mourougane ... [et al] = Une augmentation de l'investissement public peut-elle durablement augmenter la croissance? / Annabelle Mourougane ... [et al] |
| title_fullStr | Can an Increase in Public Investment Sustainably Lift Economic Growth? Annabelle Mourougane ... [et al] = Une augmentation de l'investissement public peut-elle durablement augmenter la croissance? / Annabelle Mourougane ... [et al] |
| title_full_unstemmed | Can an Increase in Public Investment Sustainably Lift Economic Growth? Annabelle Mourougane ... [et al] = Une augmentation de l'investissement public peut-elle durablement augmenter la croissance? / Annabelle Mourougane ... [et al] |
| title_short | Can an Increase in Public Investment Sustainably Lift Economic Growth? |
| title_sort | can an increase in public investment sustainably lift economic growth |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/a25a7723-en |
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