Vanhoudt, Patrick; Mathä, Thomas; Schmid, Bert - In: EIB papers 5 (2000) 2, pp. 81-106
particular in terms of the debate of economic development and convergence in standards of living - an important question then is … when spending on investment is best done by the government itself, and when public funds should be used to support … investment by the private sector. A key concept in this issue is the degree of external benefits, or spillovers, of investment …