Research on the threshold effect of public investment on private investment in the Northern Key Economic Zone

Research on the threshold effect of public investment on private investment in the Northern Key Economic Zone 15/02/2024 09:21:00 123

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Research on the threshold effect of public investment on private investment in the Northern Key Economic Zone

15/02/2024 09:21:00

Ho Thi Hoai Thuong

The purpose of this study is to examine the existence of a threshold effect of public investment on private investment in the Northern Key Economic Zone (KEZ). Employing the fixed-effect panel threshold model introduced by Hansen (1999), the researchers utilize data sourced from the General Statistics Office of Vietnam, focusing on public and private investment. The findings indicate a threshold effect of public investment on private investment in the Northern KEZ. The estimated results show that the threshold coefficient is 2.4356 (about VND11.422 million per person) and 3.0006 (about VND20.097 million per person). Based on the research results, policy implications are proposed to use public investment to promote private investment in the Northern KEZ.

Keywords: Public investment, private investment, Northern KEZ, fixed-effect panel threshold model.

(Source: Vietnam Journal of Economics and Finance, No. 6 [51] December 2023)

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