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اختبار أثر مزاحمة الإنفاق الحكومي للإستثمار الخاص في الاقتصاد السعودي عبر المعاينة المعادة

Ghassan, Hassan B. and Alhajhoj, Hassan R. (2008): اختبار أثر مزاحمة الإنفاق الحكومي للإستثمار الخاص في الاقتصاد السعودي عبر المعاينة المعادة. Published in: Arab Economic and Business Journal , Vol. 4, (2009): pp. 34-41.

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Abstract

This research aims to study the nature of the relationship between the government spending and the private investment in the non-oil sectors of the Saudi economy through testing the crowding out effect during four decades and using the Bootstrapping technique. Firstly we use the Box-Cox transformation to obtain a best model and we use also the test of cointegration, the causality test and the maximum likelihood estimation. The findings indicate that there is some evidence of the crowding out effect of the investment spending of the public enterprises on the private investment. Meanwhile, government spending on infrastructure is a catalyst to increase the level of private investment. We turn out also that the crowding in effect exceeds the crowding out effect. For the robustness of our results, we implement bootstrapping, which confirm the obtained results through linking the LR statistics to our main sample.

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