Roache, Shaun K. - International Monetary Fund (IMF) - 2007
This paper quantifies the effect of public investment on growth in the ECCU. The results, emerging from panel vector … autoregressions, indicate that the return on public investment, as defined by Perreira (2000), is very likely negative. This means … that the total change in real output induced by one EC dollar of public investment, due to its short-run impact on demand …