Private Investment in Fiji: 1977-1994 Did Government Investment Have Any Crowding-out Effect?
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概要
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Private investment in Fiji has been stagnant since the mid eighties. This paper seeks to undertake an analysis ofthe causes behind the stagnation. The empirical analysis shows that government investment had a crowding-outeffect on private investment despite its emphasis on public infrastructure. However, the relationship between thetwo is not robust. On the other hand, the relationships between private investment and growth expectations andpast behaviour are statistically highly significant. Another major factor of importance which also emerged withstatistical significance is the political climate which has been found not conducive for private investment. Theimmediate issue that has to be dealt with by government is with regard to improvement in private investorconfidence.
- 鹿児島大学,Kagoshima Universityの論文
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