01622cas a2200241 a 4500 AALejournalIMF009324 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451866889 1018-5941 BD-DhAAL BD-DhAAL Roache, Shaun. Public Investment and Growth in the Eastern Caribbean / Shaun Roache. Washington, D.C. : International Monetary Fund, 2007. 1 online resource (20 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper quantifies the effect of public investment on growth in the ECCU. The results, emerging from panel vector autoregressions, indicate that the return on public investment, as defined by Perreira (2000), is very likely negative. This means that the total change in real output induced by one EC dollar of public investment, due to its short-run impact on demand, or the longer-run impact on supply, is below one EC dollar. Public investment shocks also appear to appreciate the real exchange rate, suggesting that the short-run demand impact is larger than the long-run supply response. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2007/124 Full text available on IMF http://elibrary.imf.org/view/journals/001/2007/124/001.2007.issue-124-en.xml IMF e-Library