investment brings higher economic growth. The growth rate will be maximized if all tax revenue is allocated to public capital … investment …

Since the 2008 crisis, public investment as a proportion of GDP has declined significantly both in Spain and in other …) programme. Public investment’s effect on economic activity will depend, among other factors, on its impact on private investment … investment using the structural vector autoregressive (SVAR) approach. The results suggest that, on average, increases in public …