Elasticidades dinâmicas do investimento no crescimento da economia cearense: Uma análise do período 2003-2019.

Abstract

The main objective of this study was to analyze the sensitivity of Ceará’s economy to public and private investments in the state, and to estimate their respective dynamic elasticities in the period from 2003 to 2019. The econometric methodology used followed Bierens and Martins (2010), who modeled vectors of time-variant cointegration through the introduction of Chebyshev time polynomials. The results showed that both the elasticity of public and private investment is positive. That is, theinvestments provided economic growth in the state of Ceará. However, the impact of public investments in more efficient in the growt of Ceará´s economy than the private sector. The interaction between public and private investments, on the other hand, show increasing returns to scale until 2016