Vai trò của đầu tư công đối với đầu tư tư nhân và tăng trưởng qua các hệ số thu hút và lan tỏa

Abstract

The paper examines the role of investment in private investment and economic growth through the coefficients of attraction and spillover. Using statistics for the period 1990 - 2019, along with the calculation of coefficients, the study showed that public investment is an investment in infrastructure, which is considered as prime capital to attract investment into production and business. The attractiveness coefficient of public investment in private investment and production and business investment has been increasing rapidly after the period 2001-2005, showing that the role of public investment continues to be dominant, leading to attracting and spreading social capital. However, the ICOR coefficient is still high, showing that public investment in particular and social investment, in general, are still inefficient. Public investment in infrastructure sectors such as construction, transportation, warehouse, telecommunications, and electricity has high coefficients of backward and forward linkages, stimulating the development of other industries, attracting investment in the private sector in highly efficient economic sectors. On the basis of the above research results, the article has proposed recommendations to the state to focus on mobilizing budget and social resources for public investment, and public investment should focus on infrastructure sectors which will have a high spillover coefficient, promoting the attraction of other industries to develop.