Should the Private Sector Provide Public Capital?

Released on by Santanu Chatterjee
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  • Should the Private Sector Provide Public Capital? Book Detail

  • Author : Santanu Chatterjee
  • Release Date : 2006
  • Publisher :
  • Genre :
  • Pages : 0
  • ISBN 13 :
  • File Size : 91,91 MB
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Should the Private Sector Provide Public Capital? by Santanu Chatterjee PDF Summary

Book Description: The choice between private and government provision of a productive public good like infrastructure (public capital) is examined in the context of an endogenously growing open economy. The accumulation of public capital need not require government provision, in contrast to the standard assumption in the literature. Even with an efficient government, the relative costs and benefits of government and private provision depend crucially on the economy's underlying structural conditions and borrowing constraints in international capital markets. Countries with limited substitution possibilities and large production externalities may benefit from governments encouraging private provision of public capital through targeted investment subsidies. On the other hand, countries with flexible substitution possibilities and relatively smaller externalities may benefit either from governments directly providing public capital, or from regulation of private providers. The transitional dynamics are also shown to depend on the underlying elasticity of substitution and the size of the production externality.

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Private Finance for Development

Private Finance for Development

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The Covid-19 pandemic has aggravated the tension between large development needs in infrastructure and scarce public resources. To alleviate this tension and pr