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《Finance & Trade Economics》 2005-04
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The Effects of Fiscal Investment on Economic Growth: A Positive Analysis

GUO Qingwang ,JIA Junxue Renmin University of China, 100872  
This paper uses vector auto-regression (VAR) and the impulse response function to analyze the dynamic effects of aggregate fiscal investment, fiscal capital construction investment and fiscal innovation investment on aggre gate output, total factor productivity and private investment based on annual data for the period from 1978 to 2003 in China. We find that fiscal investment have stronger positive effects on economic growth and some important characteristics of dynamic effects of fiscal investment on economic growth and private investment have significant implies for fiscal policy designing and implement timing in China.
【Fund】: “教育部优秀青年教师奖”资助;; 社会科学基金重点项目“积极财政政策效果评估及淡出策略研究”(04AJY006)的阶段性成果。
【CateGory Index】: F224
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