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Do public investment and FDI crowd in or crowd out private domestic investment in Malaysia?
APPLIED ECONOMICS (2009)
  • James B Ang, Nanyang Technological University
Abstract
Motivated by the concern of a persistent decline in total investment in Malaysia during the post-crisis era, this article examines the long-run relationship between private domestic investment (PDI), public investment and foreign direct investment (FDI) in Malaysia. Using multivariate cointegration techniques, the results indicate a fairly robust cointegrated relationship between these variables during the period 1960 to 2003. Both public investment and FDI are found to be complementary to, rather than competing with, PDI.
Disciplines
Publication Date
2009
Citation Information
James B Ang. "Do public investment and FDI crowd in or crowd out private domestic investment in Malaysia?" APPLIED ECONOMICS (2009)
Available at: http://works.bepress.com/james_ang/14/