In China, local public debt issuance between 2006 and 2013 crowded out investment by private manufacturing firms by …. Second, local public debt has a larger negative effect on investment by private firms in industries more dependent on … external funding. Finally, in cities with high government debt, firm-level investment is more sensitive to internal funding …

Private investment in Malaysia has been sluggish since the Asian financial crisis. One explanation is that the growing … presence of government-linked corporations (GLCs) has been crowding out private investment. For the first time, we provide … empirical evidence on the relationship between GLC presence and private investment. We find that when GLCs are dominant in an …

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 …