世界银行：公共投资对私人投资的“挤入”效应再探（英文版）

Current investment trends in emerging market and developing economies are not enough to meet the needs of their growing populations and will fall short of achieving the Sustainable Development Goals related to human and physical capital development. Public investment can play a critical role in addressing this shortfall, especially if it can crowd-in private investment. Using theory and panel data for 109 developing countries from 1980–2019, this paper investigates whether public investment c