- Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
- Vol: 18 Issue: 2 Special Issue
- A KEYNESIAN (TOBIN'S Q) INVESTMENT FUNCTION FOR THE TURKISH PRIVATE INVESTMENT AND THE COMPLEMENTARI...
A KEYNESIAN (TOBIN'S Q) INVESTMENT FUNCTION FOR THE TURKISH PRIVATE INVESTMENT AND THE COMPLEMENTARITY OF PUBLIC AND PRIVATE CAPITALt
Authors : Metin Arslan
Pages : 197-208
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Publication Date : 2000-12-31
Article Type : Research
Abstract :This paper has two main aims. First. it attempts to test a Keynesian (Tobin's q) investment function for the Turkish private sector within a dynamic stochastic model framework between the years 1963-85. Second it sets out to compare its results with those of-a previous Neoclassical work of a similar track, and concludes that it is the phenomenon of the composition of pubfic capita) rather than Its method of finance which explains private capital accumulation in the Turkish context.Keywords : Public capital expenditure, private capital, fiscal poiicy, crowding out