Journal of Public Economics Vol. 52, No. 1, August 1993, Pages 73-82
es_ES
Identifier
dc.identifier.issn
0047-2727
Identifier
dc.identifier.other
https://doi.org/10.1016/0047-2727(93)90105-3
Identifier
dc.identifier.uri
https://repositorio.uchile.cl/handle/2250/151262
Abstract
dc.description.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.