Hur, Seok-Kyun; Mallick, Sushanta; Park, Donghyun - Economics and Research Department, Asian Development Bank - 2011
toward domestic demand may require a moderate fiscal expansion. The extent of crowding out will impinge upon the … effectiveness of such fiscal expansion in boosting domestic demand. Therefore, crowding out has implications for the effectiveness …. Overall, our evidence is decidedly mixed, with no clear evidence of either crowding out or crowding in. The evidence fails to …