conclude that financing growth and investment out of foreign savings, while not impossible, is risky. …A surprisingly large number of countries have been able to finance a significant fraction of domestic investment using … important than private finance, we also identify a number of episodes where a substantial fraction of domestic investment was …

concludes that financing growth and investment out of foreign savings, while not impossible, is risky. …A surprisingly large number of countries have been able to finance a significant fraction of domestic investment using … investment was financed via private capital inflows. That said, foreign savings are not a good substitute for domestic savings …

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 …