The Effect of Public Capital on Aggregate Output

Wesselhöft, Jan-Erik

doi:10.1515/roe-2013-0104

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2023

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“…The justification for using VECM is that all variables are considered endogenous. Secondly, the model shows how the variables gradually evolve from their common starting point in time [47,48].…”

Section: Estimation Methodologymentioning

confidence: 99%

The Effect of Public Investment on Private Investment in Kenya

Mukui¹,

Awiti²,

Onjala³

2023

JEMT

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Public investment largely influences the socio-economic development of a country despite inefficiency concerns. A strong private sector is poised to cause GDP growth due to the efficient management of the resources compared to an economy dominated by the public sector. Nevertheless, public spending pattern influences socio-economic economic activities and welfare dynamics of a country. However, high levels of government activities could crowd-out private investment due to the competition for the scarce financial resources in the economy. This paper sought to analyze the effect of public investment on private investment in Kenya using a vector error correction model. The findings showed a strong positive impact of public investment on private investment in Kenya.

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Section: Estimation Methodologymentioning

confidence: 99%