Macro-level estimates of the productivity of public capital are typically larger than microlevel estimates. The evidence also shows large cross-country differences in the quality of public capital. A general equilibrium growth model is introduced to explain both facts. The productivity of firms specializing in differentiated intermediate inputs depends on public capital whose provision is subje...

Capital investment is a major concern for public hospitals. Relative to operating expenditures, it has been almost constant for 40 years, despite great changes in technology and patient throughputs. Research studies during the last decade suggest that over that time almost all investment has been on simply replacing existing assets. Per person, the total capital stock has actually declined. How...

During the 1980s, the need for reduction of scal deecits lead many LDC governments to cut public investment, impose import restrictions and tighten credit. In this paper we examine the eeect of public policies on private investment in a number of LDCs, to assess whether public investment acted as a catalyst or competed for scarce resources. In order to analyze whether there are diierences among...

Concerns regarding the Trans-Pacific Partnership (TPP) have raised awareness about the negative public health impacts of trade and investment agreements. In the past decade, we have learned much about the implications of trade agreements for public health: reduced equity in access to health services; increased flows of unhealthy commodities; limits on access to medicines; and constrained policy...

Philip Morris has recently brought claims against Australia (2011) and Uruguay (2010) under international investment agreements (IIAs). The claims allege that Philip Morris is entitled to compensation following the introduction of innovative tobacco packaging regulations to reduce smoking and prevent noncommunicable diseases (NCDs). Since tobacco control measures are often viewed as a model for...

The cost of public investment is not the value of public capital. Unlike with private investors, there is no plausible behavioral model in which every dollar that the public sector spends as “investment” creates capital in an economic sense. While this simple analytic point is obvious, it has so far been uniformly ignored in the empirical literature on economic growth which uses, at best, cumul...

The aim of this paper is to find the relationship among government and private capital formation in Pakistan during period 1981 2018. This study employs Auto Regressive Distributive Lag (ARDL) bound test. results show that infrastructure investment negatively effects on long run short run, indicating crowds out investment. In determining role liberalization policies, have important policy impli...