Public investment and real price supports
Public-Investment.pdf (645.0Kb)Abstract
The social rate of return to public investment in industries with fixed real-price supports is studied using a simple general-equilibrium model. Fixed real-price supports are shown to enhance the likelihood of immiserizing growth due to capital accumulation or technological innovation in the supported sector. General conditions under which an intervention price will induce a negative social rate of return to public investment are derived.
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Artículo de publicación ISI Artículo de publicación SCOPUS
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URI: https://repositorio.uchile.cl/handle/2250/151262
DOI: https://doi.org/10.1016/0047-2727(93)90105-3
ISSN: 0047-2727
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Journal of Public Economics Vol. 52, No. 1, August 1993, Pages 73-82
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