Can Government Demand Stimulate Private Investment Evidence from U S Federal Procurement is popular PDF and ePub book, written by Shafik Hebous in 2016-03-10, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Can Government Demand Stimulate Private Investment Evidence from U S Federal Procurement can be Read Online from any device for your convenience.
Can Government Demand Stimulate Private Investment Evidence from U S Federal Procurement Book PDF Summary
We study the effects of federal purchases on firms’ investment using a novel panel dataset that combines federal procurement contracts in the United States with key financial firm-level information. We find that 1 dollar of federal spending increases firms’ capital investment by 7 to 11 cents. The average effect masks heterogeneity: Effects are stronger for firms that face financing constraints and they are close to 0 for unconstrained firms. In line with the financial accelerator model, our findings indicate that the effect of government purchases works through easing firms’ access to external borrowing. Furthermore, industry-level analysis suggests that that the increase in investment at the firm level translates into an industry-wide effect without crowding-out capital investment of other firms in the same industry.
Detail Book of Can Government Demand Stimulate Private Investment Evidence from U S Federal Procurement PDF
- Author : Shafik Hebous
- Release : 10 March 2016
- Publisher : International Monetary Fund
- ISBN : 9781513578149
- Genre : Business & Economics
- Total Page : 33 pages
- Language : English
- PDF File Size : 20,5 Mb
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