The Employment Impact Of Public Investments

Author : Marian Moszoro
Publisher : International Monetary Fund
Page : 20 pages
File Size : 49,5 Mb
Release : 2021-05-06
Category : Business & Economics
ISBN : 9781513573793

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The Direct Employment Impact of Public Investment by Marian Moszoro Pdf

We evaluate the direct employment effect of the public investment in key infrastructure—electricity, roads, schools and hospitals, and water and sanitation. Using rich firm-level panel data from 41 countries over 19 years, we estimate that US$1 million of public spending in infrastructure create 3–7 jobs in advanced economies, 10–17 jobs in emerging market economies, and 16–30 jobs in low-income developing countries. As a comparison, US$1 million public spending on R&D yields 5–11 jobs in R&D in OECD countries. Green investment and investment with a larger R&D component deliver higher employment effect. Overall, we estimate that one percent of global GDP in public investment can create more than seven million jobs worldwide through its direct employment effects alone.

Author : Mr. Abdul Abiad,Davide Furceri,Petia Topalova
Publisher : International Monetary Fund
Page : 26 pages
File Size : 43,9 Mb
Release : 2015-05-04
Category : Business & Economics
ISBN : 9781484361559

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The Macroeconomic Effects of Public Investment by Mr. Abdul Abiad,Davide Furceri,Petia Topalova Pdf

This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to identify the causal effect of government investment in a sample of 17 OECD economies since 1985 and model simulations, the paper finds that increased public investment raises output, both in the short term and in the long term, crowds in private investment, and reduces unemployment. Several factors shape the macroeconomic effects of public investment. When there is economic slack and monetary accommodation, demand effects are stronger, and the public-debt-to-GDP ratio may actually decline. Public investment is also more effective in boosting output in countries with higher public investment efficiency and when it is financed by issuing debt.

Author : Daniel Felsenstein,Ronald McQuaid,Philip McCann,Daniel Shefer
Publisher : Edward Elgar Publishing
Page : 296 pages
File Size : 48,7 Mb
Release : 2001-01-01
Category : Business & Economics
ISBN : 1782543120

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Public Investment and Regional Economic Development by Daniel Felsenstein,Ronald McQuaid,Philip McCann,Daniel Shefer Pdf

'Public Investment and Regional Economic Development is a very interesting and stimulating reading for policymakers and anyone doing research in this area.' - Adelheid Holl, Environment and Planning C: Government and Planning The relationship between public investment and regional economic development is of perennial interest and is particularly topical now as issues of infrastructure and innovation are high on policy agendas in many countries. Public investment is often viewed as a possible method for 'jump-starting' lagging regional economies and also as a requirement for the continued development of more prosperous regions. Public Investment and Regional Economic Development provides a systematic analysis of the complex relationship between public investment and regional economic development. The authors offer new insights into the key issues of regional growth, and present a broad variety of perspectives ranging from transport and housing infrastructure through to human capital and innovation.

Author : Consad Research Corporation
Publisher : Unknown
Page : 318 pages
File Size : 53,5 Mb
Release : 1969
Category : Cost effectiveness
ISBN : UOM:39015027399164

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A Study of the Effects of Public Investment by Consad Research Corporation Pdf

Author : Stephen A. Marglin
Publisher : Unknown
Page : 104 pages
File Size : 42,7 Mb
Release : 1967
Category : Capital investments
ISBN : WISC:89048113633

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Public Investment Criteria by Stephen A. Marglin Pdf

Essay on public investment criteria and the role of cost benefit analysis in the implementation of economic planning for economic development in India - criteria include consumption benefits, costs, time factor, interest, budgetary constraints, risk and dynamics. References pp. 100 and 101.

Author : William Gbohoui
Publisher : International Monetary Fund
Page : 34 pages
File Size : 48,9 Mb
Release : 2021-11-12
Category : Business & Economics
ISBN : 9781616356200

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Uncertainty and Public Investment Multipliers: The Role of Economic Confidence by William Gbohoui Pdf

This paper investigates how macroeconomic uncertainty affects the fiscal multiplier of public investment. In theory, uncertainty can reduce the multiplier if the private sector becomes more cautious and does not respond to the fiscal stimulus. Conversely, it can increase the fiscal multiplier if public investment shocks improve private agents’ expectations about future economic outlook, and lead to larger private spending. Using the disagreement about GDP forecasts as a proxy for uncertainty, we find that unexpected increases in public investment have larger and longer-lasting effects on output, investment, and employment during periods of high uncertainty, with multipliers above 2, and the larger multipliers are not driven by economic slack. Public investment shocks are also found to boost private sector confidence during heightened uncertainty, driving-up expectations about future economic development which in turn magnify private sector response to the initial stimulus.

Author : Edward L. Glaeser,James M. Poterba
Publisher : University of Chicago Press
Page : 479 pages
File Size : 51,6 Mb
Release : 2021-11-11
Category : Business & Economics
ISBN : 9780226800585

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Economic Analysis and Infrastructure Investment by Edward L. Glaeser,James M. Poterba Pdf

"Policy-makers often call for expanding public spending on infrastructure, which includes a broad range of investments from roads and bridges to digital networks that will expand access to high-speed broadband. Some point to near-term macro-economic benefits and job creation, others focus on long-term effects on productivity and economic growth. This volume explores the links between infrastructure spending and economic outcomes, as well as key economic issues in the funding and management of infrastructure projects. It draws together research studies that describe the short-run stimulus effects of infrastructure spending, develop new estimates of the stock of U.S. infrastructure capital, and explore the incentive aspects of public-private partnerships (PPPs). A salient issue is the treatment of risk in evaluating publicly-funded infrastructure projects and in connection with PPPs. The goal of the volume is to provide a reference for researchers seeking to expand research on infrastructure issues, and for policy-makers tasked with determining the appropriate level of infrastructure spending"--

Author : Ahmed, Qazi Masood,Ali, Syed Ammad
Publisher : Intl Food Policy Res Inst
Page : 39 pages
File Size : 46,7 Mb
Release : 2024-07-02
Category : Social Science
ISBN : 8210379456XXX

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Public Investment Efficiency and Sectoral Economic Growth in Pakistan by Ahmed, Qazi Masood,Ali, Syed Ammad Pdf

This paper compares the effects of aggregate and sectoral public investments on sectoral private investment, output, and employment. We estimate the elasticities of private investment with respect to aggregate and sectoral public investments to find crowding-out or crowding-in phenomena in Pakistan. The study also reveals the changes in labor absorption or replacement due to additional capital and the effects on output. Our data covers eight sectors of the Pakistan economy and uses annual time series data from 1964 to 2011. This study uses vector autoregressive (VAR) techniques, as applied by Pereira (2000, 2001), which allows measuring the dynamic feedback effects among the variables.

Author : Mr.Gerd Schwartz,Ms.Manal Fouad,Mr.Torben S Hansen,Ms.Genevieve Verdier
Publisher : International Monetary Fund
Page : 344 pages
File Size : 54,7 Mb
Release : 2020-09-03
Category : Business & Economics
ISBN : 9781513511818

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Well Spent by Mr.Gerd Schwartz,Ms.Manal Fouad,Mr.Torben S Hansen,Ms.Genevieve Verdier Pdf

Drawing on the Fund’s analytical and capacity development work, including Public Investment Management Assessments (PIMAs) carried out in more than 60 countries, the new book Well Spent: How Strong Infrastructure Governance Can End Waste in Public Investment will address how countries can attain quality infrastructure outcomes through better infrastructure governance—an issue becoming increasingly important in the context of the Great Lockdown and its economic consequences. It covers critical issues such as infrastructure investment and Sustainable Development Goals, controlling corruption, managing fiscal risks, integrating planning and budgeting, and identifying best practices in project appraisal and selection. It also covers emerging areas in infrastructure governance, such as maintaining and managing public infrastructure assets and building resilience against climate change.

Author : Michael Becket
Publisher : Kogan Page Publishers
Page : 184 pages
File Size : 41,6 Mb
Release : 2012-01-03
Category : Business & Economics
ISBN : 9780749466411

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How the Stock Market Works by Michael Becket Pdf

Now more than ever, people are being affected by the fluctuations in the global economy and by financial uncertainty - with major impacts on their savings, portfolios and pensions. Fully updated for this fourth edition, How the Stock Market Works tells investors what is being traded and how, who does what with whom, and how to evaluate a particular share or bond in light of rival claims from critics and admirers. From the practical consequences of being a shareholder to a basic coverage of the taxation regime, the book provides a wealth of information on individual product types as well as the key players themselves.

Author : Edmund Valpy Knox Fitzgerald,George Mavrotas
Publisher : Unknown
Page : 50 pages
File Size : 41,5 Mb
Release : 1997
Category : Capital movements
ISBN : 9221106365

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The Employment Impact of External Capital Flows in Developing Countries by Edmund Valpy Knox Fitzgerald,George Mavrotas Pdf

Author : John Maynard Keynes
Publisher : Springer
Page : 404 pages
File Size : 45,5 Mb
Release : 2018-07-20
Category : Business & Economics
ISBN : 9783319703442

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The General Theory of Employment, Interest, and Money by John Maynard Keynes Pdf

This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.

Author : Mr.Edward F Buffie,Luis-Felipe Zanna,Mr.Christopher S Adam,Lacina Balma,Dawit Tessema,Mr.Kangni R Kpodar
Publisher : International Monetary Fund
Page : 95 pages
File Size : 54,7 Mb
Release : 2020-06-19
Category : Business & Economics
ISBN : 9781513545639

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Debt, Investment, and Growth in Developing Countries with Segmented Labor Markets by Mr.Edward F Buffie,Luis-Felipe Zanna,Mr.Christopher S Adam,Lacina Balma,Dawit Tessema,Mr.Kangni R Kpodar Pdf

We introduce a new suite of macroeconomic models that extend and complement the Debt, Investment, and Growth (DIG) model widely used at the IMF since 2012. The new DIG-Labor models feature segmented labor markets, efficiency wages and open unemployment, and an informal non-agricultural sector. These features allow for a deeper examination of macroeconomic and fiscal policy programs and their impact on labor market outcomes, inequality, and poverty. The paper illustrates the model'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 than investment in infrastructure in promoting long-run economic development when investments earn their average estimated returns. The decision about how much to invest in human capital versus infrastructure involves, however, an acute intertemporal trade-off. Because investment in education affects labor productivity with a long lag, it takes 15+ years before net national income, the private capital stock, real wages for the poor, and formal sector employment surpass their counterparts in a program that invests mainly in infrastructure. The ranking of alternative investment programs depends on the policymakers' social discount rate and on the weight of distributional objectives in the social welfare function.

Author : Stephen Broadberry,Mark Harrison
Publisher : Cambridge University Press
Page : 363 pages
File Size : 48,5 Mb
Release : 2005-09-29
Category : History
ISBN : 9781139448352

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The Economics of World War I by Stephen Broadberry,Mark Harrison Pdf

This unique volume offers a definitive new history of European economies at war from 1914 to 1918. It studies how European economies mobilised for war, how existing economic institutions stood up under the strain, how economic development influenced outcomes and how wartime experience influenced post-war economic growth. Leading international experts provide the first systematic comparison of economies at war between 1914 and 1918 based on the best available data for Britain, Germany, France, Russia, the USA, Italy, Turkey, Austria-Hungary and the Netherlands. The editors' overview draws some stark lessons about the role of economic development, the importance of markets and the damage done by nationalism and protectionism. A companion volume to the acclaimed The Economics of World War II, this is a major contribution to our understanding of total war.

Author : Marion W. Toen-Gout,Jarig van Sinderen
Publisher : Unknown
Page : 36 pages
File Size : 51,8 Mb
Release : 1995
Category : Economic development
ISBN : NWU:35556025475674

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The Impact of Investment in Infrastructure on Economic Growth by Marion W. Toen-Gout,Jarig van Sinderen Pdf