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

淡江大學機構典藏 > 商管學院 > 財務金融學系暨研究所 > 期刊論文 > Item 987654321/23618

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題名:	Crowding-in or crowding-out ? Analyzing government investment in Taiwan
作者:	Ho, Tsung-wu;聶建中;Nieh, Chien-chung
貢獻者:	淡江大學財務金融學系
日期:	2002-12
上傳時間:	2009-11-30 17:46:45 (UTC+8)
出版者:	Curtin Business School and Curtin University of Technology
摘要:	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
關聯:	Asia pacific journal of economics and business 6(2), pp.74-92
顯示於類別:	[財務金融學系暨研究所] 期刊論文

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