We introduce a new suite of macroeconomic models that extend and complement the Debt, Investment, and Growth (DIG …'s properties by analyzing the growth, debt, and distributional consequences of big-push public investment programs with different … mixes of investment in human capital and infrastructure. We show that investment in human capital is much more effective …

public sector investment in determining both the extent and the speed of convergence. The paper also considers the importance … of the stock of human capital, trade orientation, and foreign direct investment in the long-run growth process. Empirical … the notion of differential effects of public and private investment on long-term growth, as well as for the convergence …