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Article citations


Aschauer, D.A. (1989) Is Public Expenditure Productive. Journal of Monetary Economics, 23, 177-200.

has been cited by the following article:

  • TITLE: The Macroeconomic Effect of Public Investment

    AUTHORS: Chen He

    KEYWORDS: Public Investment, GDP, Private Investment, Employment

    JOURNAL NAME: Modern Economy, Vol.8 No.11, November 10, 2017

    ABSTRACT: This paper establishes a VAR model and VEC model using the data of Chinese public investment, GDP, private investment and employment from 1997 to 2013 aiming to analyze the influence of Chinese public investment on GDP, private investment and employment through ADF unit root test, Granger causality test, Johansen co-integration test, impulse response function, variance decomposition and other empirical methods. Results show that there is a stable equilibrium relationship among Chinese public investment, GDP, private investment and employment in the long term; Public investment has a positive effect on GDP in the short term, which is not obvious even negative in the long term though; Public investment has a crowding out effect on private investment in the short term, while has a positive impact instead in the long term; The positive influence that public investment has on employment is very weak both in the short term and long term. For the stable and healthy development of social economy, the government should improve the efficiency of public investment by means of controlling the scale, optimizing the structure and strengthening the supervision of public investment; A series of policies should be introduced as well to encourage private investment at the same time.