The impact of public investment on private investment in Vietnam's central key economic region and the Mekong Delta Key Economic Region : a PMG approach

The purpose of this study is to find out the impact of public investment on private investment in the localities of the Mekong Delta Key Economic Region and the Central Key Economic Region. Using data on public investment (state sector's investment) and private investment (non-state sector's investment excluding FDI) in the period 2010-2021 with the PMG (Pool Mean Group) method, the research results show that in the long run, public investment creates a crowding-in effect on private investment in two Key Economic Regions. However, in the short term, public investment creates a crowding - out effect or does not affect private investment. Based on empirical research results, some relevant policy implications are suggested.