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Please use this identifier to cite or link to this item: https://digital.lib.ueh.edu.vn/handle/UEH/62083
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dc.contributor.authorPham Thai Binh-
dc.contributor.otherHector Sala-
dc.date.accessioned2021-08-20T14:49:57Z-
dc.date.available2021-08-20T14:49:57Z-
dc.date.issued2022-
dc.identifier.issn1573-9414-
dc.identifier.urihttp://digital.lib.ueh.edu.vn/handle/UEH/62083-
dc.description.abstractThis paper explores the influence of government expenditures on the business cycle dynamics of a small transition country such as Vietnam. We develop a comprehensive stochastic-growth DSGE model where government consumption may affect households’ utility function, and there is habit persistence in consumption and endogenous private capital utilisation. Two fiscal shocks are considered in addition to shocks to households’ preferences and technological progress. The estimated DSGE model adequately captures the dynamics of Vietnam’s economy and is helpful to uncover a diversity of findings. First, public investment was an important driver of Vietnam’s high output growth in the early-to-mid 1990s, although its contribution decreased during the 2000s. Second, government expenditures explain, respectively, up to 30% and 20% of Vietnamese output variations in the long and short run. Third, impulse–response functions reveal a 3% GDP cumulative 5-year gain from a public investment shock of 1% GDP. Fourth, simulation analysis of different fiscal policies unveils a significant and positive impact of productive public investment by crowding in private investment.en
dc.formatPortable Document Format (PDF)-
dc.language.isoeng-
dc.publisherSpringer-
dc.relation.ispartofEconomic Change and Restructuring-
dc.rightsThe Author(s), under exclusive licence to Springer Science+Business Media, LLC part of Springer Nature-
dc.subjectBusiness cycleen
dc.subjectCrowding inen
dc.subjectDSGEen
dc.subjectPublic investmenten
dc.subjectVietnamen
dc.titleThe implications of public expenditures on a small economy in transition: a Bayesian DSGE approachen
dc.typeJournal Articleen
dc.identifier.doihttps://doi.org/10.1007/s10644-021-09319-7-
ueh.JournalRankingScopus-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
item.openairetypeJournal Article-
item.grantfulltextnone-
item.cerifentitytypePublications-
item.languageiso639-1en-
item.fulltextOnly abstracts-
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