Efeitos do Investimento Público sobre o Produto e a Produtividade: uma análise empírica
José Oswaldo Cândido Júnior
There are many studies that explore the connection between public investment and their effects on GDP and long run economic growth. This paper analyzes the time series of GDP, Public Investment and Total Factor Productivity (PTF) in Argentina, Brazil and Chile in the period of 1970-2000 and investigates the dynamic relations (in the short and long runs) between public investment and GDP and public investment and PTF. There is a positive long run relationship between public investment and GDP in all countries. On the other hand, the long run relationship between public investment and PTF was only positive to Chile. This result confirms a higher elasticity GDP-Public Investment of Chile than Brazil and Argentina. Finally, a different result for the relationship between public investment and PTF implies unequal efficiencies of public investment.
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