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20世纪60年代以来,东盟国家持续快速的经济增长引起了人们的重视。在对这些国家经济增长来源的研究中,前人的研究着重考察了私人投资的重要性。本文运用生产函数法对东盟五国公共投资与经济增长关系进行了实证研究①。实证分析结果显示,除了菲律宾之外,其余4个东盟国家公共资本产出弹性显著为正值,表明公共投资对其经济增长具有明显的促进作用。而菲律宾的公共资本对经济增长则没有显著的影响,公共投资效率低下是造成菲律宾公共资本非生产性的主要原因。
Since the 1960s, the sustained and rapid economic growth of ASEAN countries has drawn great attention. In the study of the sources of economic growth in these countries, previous studies focused on the importance of private investment. This paper uses the production function method to empirically study the relationship between public investment and economic growth in five ASEAN countries. Empirical analysis shows that, except for the Philippines, the output elasticity of public capital in the remaining four ASEAN countries is significantly positive, indicating that public investment has a significant role in promoting its economic growth. However, the public capital in the Philippines has no significant impact on economic growth. The inefficiency of public investment is the main reason for the unproductive public capital in the Philippines.