O impacto do investimento público em infraestrutura nas decisões de investimento privado

Abstract

This paper presents an analysis regarding the relationship between public investment in infrastructure and private sector investment decisions, presenting the Brazilian history in the 20th century. Initially, some investment theories are presented, namely: neoclassical theory, Keynesian theory and aspects of investment theories in developing countries. In a second moment, the history of investment in infrastructure carried out in Brazil is presented, showing the effects that emerged from the 20th century onwards. After reviewing the theories and presenting the Brazilian history, aspects related to the organization of the infrastructure sector are dealt with. Furthermore, the relationship between public investments in infrastructure and private sector investment decisions is explained. Finally, an econometric test is used to verify whether public investment in infrastructure is a substitute for or complementary to private investment