investment, and fiscal balances, from an empirical perspective. Based on empirical findings-particularly regarding inflation …

This paper contributes to the debate on the relationship between public-capital accumulation and private investment in … the past three decades, we study whether public investment in recent years has become more or less complementary to … private investment in comparison to the period before 1980. Second, we construct a novel data-set of quarterly aggregate …

the impact of state-owned enterprises (SOEs) on private firm investment in Ukraine-a large transition economy. Controlling …

reallocated from the private to the public sectors, reducing investment and deepening the recessions even further. To account for …. This implies that domestic debt purchases displace productive investment. The model shows that these purchases reduce …