Resumen

BRITO-GAONA, Luis Felipe  y  IGLESIAS, Emma M.. Private investment, government expenditure and tax burden in Latin America. Estudios de Economía [online]. 2017, vol.44, n.2, pp.131-156. ISSN 0718-5286.  http://dx.doi.org/10.4067/S0718-52862017000200131.

18.

This paper looks for empirical evidence to show if a very interventionist government stimulates or not private investment in Latin America. Using the same model as Caballero-Urdiales y López-Gallardo (2012), we extend their analysis from five Latin-American countries to all Latin America. The results from our estimated elasticities show evidence in support of three hypothesis: (1) that tax burden (taxes on income and consumption) has significant effects on private-investment; (2) that public investment has a crowding out effect with private investment; (3) and that in order to stimulate private investment, the government should have very little intervention.

Palabras clave : Private investment; gross domestic produc; public investment; income tax; value added tax..

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