Crowding-in or crowding-out ? Analyzing government investment in Taiwan

機構典藏 > College of Business and Management > Graduate Institute & Department of Banking and Finance > Journal Article > Item 987654321/23618

Please use this identifier to cite or link to this item: https://tkuir.lib.tku.edu.tw/dspace/handle/987654321/23618

Title:	Crowding-in or crowding-out ? Analyzing government investment in Taiwan
Authors:	Ho, Tsung-wu;聶建中;Nieh, Chien-chung
Contributors:	淡江大學財務金融學系
Date:	2002-12
Issue Date:	2009-11-30 17:46:45 (UTC+8)
Publisher:	Curtin Business School and Curtin University of Technology
Abstract:	Economictheory suggests thatthe way government finances its expenditure determines the effectiveness of fiscal expansionary policy. This paper considers a simple investment model embedded in a Markov regimeswitching framework, where parameters are subject to shift between two regimes: crowding-in and crowding-out (of private investment by government investment). Using Taiwanese data, the study finds dominant crowding-in effects before 1980, and dominantcrowding-out effects after 1980. The dating correctly separates two exchange rate regimes (a fixed, then a flexible rate regime). One conclusion is that fiscal policy is ineffective in a flexible-rate regime
Relation:	Asia pacific journal of economics and business 6(2), pp.74-92
Appears in Collections:	[Graduate Institute & Department of Banking and Finance] Journal Article

Files in This Item:

File	Description	Size	Format
		0Kb	Unknown	329	View/Open
Crowding-in or crowding-out Analyzing government investment in Taiwan.pdf		461Kb	Adobe PDF	2	View/Open