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Does government investment crowd out private investment in China?

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Listed:
  • Xiaoming Xu
  • Yanyang Yan

Abstract

This paper asks whether government investment “crowds out” or “crowds in” private investment in China. We divide government capital expenditures into two types: (1) investment that serves to provide public goods and infrastructure, and (2) investment in private industry and commerce. The results of structured vector auto-regressive analysis suggest that government investment in public goods in China “crowds in” private investment significantly, while government investment in private goods, industry and commerce, mainly through state-owned enterprises, “crowds out” private investment significantly.

Suggested Citation

  • Xiaoming Xu & Yanyang Yan, 2014. "Does government investment crowd out private investment in China?," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 17(1), pages 1-12, January.
    • Handle: RePEc:taf:jecprf:v:17:y:2014:i:1:p:1-12
    DOI: 10.1080/17487870.2013.866897
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