Vuchelen, Jef; Caekelbergh, Stijn - In: Applied Economics 42 (2010) 14, pp. 1783-1796
Budgetary consolidations are considered the obvious explanation for the decline in public investment that most Western European countries experienced over the past three decades. However, regressions based on budgetary variables tend to overpredict public investment during the post-1990 period,...