macroeconomic effects of public and private investment through VAR analysis. From impulse response functions, we are able to assess … the extent of crowding-in or crowding-out of both components of investment. We also compute the associated macroeconomic … rates of return of public and private investment for each country. The results point mostly to the existence of positive …

Combining in-house research and work by leading academics, this report assesses how the crisis has impacted investment …. It explains why and where investment has declined, looking at the impact of structural imbalances, policy uncertainty …

, which we call Aggregate Return On Investment (AROI). It is a purely internal measure because, unlike the AIRR, it does not …