José Luis Hernández Mota, Iván Abdel Marín Medrano
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Financiamiento sostenible de la inversión pública: evidencia para México, 2001-2019
This paper aims to analyze public investment spending with sustainable external financing. The theoretical section examines solvency and fiscal compliance conditions that allow determining a rule for sustainable debt accumulation with a public investment policy. Empirically, a fiscal reaction function is estimated, which validates the hypothesis of positive effects of the implementation of the rule on primary balance and phy-sical budgetary investment for the period 1990:I-2019:IV. The results suggest discussing the relevance of modifying debt and public spending policy in order to stimulate economic activity.