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The Complementarity of Public and Private Capital and the Optimal Rate of Return to Government Investment

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  • Seiritsu Ogura
  • Gary Yohe

Abstract

I. Optimal government investment under distortion, 653.—II. An application: Corporate income taxation, 656.—III. The impact of depreciation, 661.—IV. Concluding remarks, 662.

Suggested Citation

  • Seiritsu Ogura & Gary Yohe, 1977. "The Complementarity of Public and Private Capital and the Optimal Rate of Return to Government Investment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 91(4), pages 651-662.
    • Handle: RePEc:oup:qjecon:v:91:y:1977:i:4:p:651-662.
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    File URL: http://hdl.handle.net/10.2307/1885887
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    Citations

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    Cited by:

    1. Tamai, Toshiki, 2016. "Public investment, the rate of return, and optimal fiscal policy in a stochastically growing economy," Journal of Macroeconomics, Elsevier, vol. 49(C), pages 1-17.
    2. Ahmed Badawi, 2003. "Private capital formation and public investment in Sudan: testing the substitutability and complementarity hypotheses in a growth framework," Journal of International Development, John Wiley & Sons, Ltd., vol. 15(6), pages 783-799.
    3. Soldatos, Gerasimos T., 2014. "Local Taxation, Private-Public Consumption Complementarity, and the Optimal Number of Jurisdictions," MPRA Paper 60861, University Library of Munich, Germany.
    4. Tamai, Toshiki, 2023. "The rate of discount on public investments with future bias in an altruistic overlapping generations model," European Journal of Political Economy, Elsevier, vol. 79(C).
    5. Chhibber, Ajay & Kalloor, Akshata, 2016. "Reviving Private Investment in India: Determinants and Policy Levers," Working Papers 16/181, National Institute of Public Finance and Policy.
    6. Gary Yohe & Chris Hope, 2013. "Some thoughts on the value added from a new round of climate change damage estimates," Climatic Change, Springer, vol. 117(3), pages 451-465, April.
    7. Ajay Chhibber & Mansoor Dailami, 1993. "Fiscal Policy and Private Investment in Developing Countries: Recent Evidence on Key Selected Issues," Palgrave Macmillan Books, in: Riccardo Faini & Jaime Melo (ed.), Fiscal Issues in Adjustment in Developing Countries, pages 121-150, Palgrave Macmillan.
    8. Gary Yohe & Richard S.J. Tol & Dean Murphy, 2007. "On Setting Near-Term Climate Policy While the Dust Begins to Settle," Energy & Environment, , vol. 18(5), pages 621-633, September.
    9. David Burgess, 2006. "Public Investment Criteria in Overlapping Generations Models of Open Economies," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 13(1), pages 59-78, January.
    10. Sam S. Enimola, 2010. "Infrastructure and Economic Growth," Journal of Infrastructure Development, India Development Foundation, vol. 2(2), pages 121-133, December.

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