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| Volume 1,
No. 1,
April
2002 |
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Structural Cointegration Analysis of Private and Public Investment |
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| Rosemary
Rossiter |
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| Department
of Economics, Ohio University, U.S.A.. |
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| Abstract |
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| A
structural cointegration
approach is used to investigate the relationship between public
and private investment, based on dataseries which include software
in the definitions of investment. Empirical evidence for equipment
suggests crowding out. However structures shows crowding in, supporting
the infrastructure hypothesis. |
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Key words:
structural cointegration approach; public investment
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| JEL
classification:
C50;
E22; E69 |
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