TERMIUM Plus®

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CROWDING OUT EFFECT [1 record]

Record 1 2003-03-18

English

Subject field(s)
  • Economic Doctrines, Systems and Policies
  • Investment
CONT

... the crowding out effect ... may be defined as the offsetting reduction in private investment that follows an expansionary fiscal policy due to a rise in interest rates. Monetarists believe ... that an increase in government expenditure will crowd out almost as much private expenditure ...

French

Domaine(s)
  • Doctrines, systèmes et politiques économiques
  • Investissements et placements
DEF

Effet mis en évidence par les économistes monétaristes libéraux (R. G. Hawtrey, M. Freidman) selon lequel une dépense publique additionnelle financée par emprunt auprès des agents non bancaires élève les taux d'intérêt, ce qui a pour conséquence une baisse des dépenses privées de la part des souscripteurs à l'emprunt ou de ceux qui eussent empruntés les fonds à des taux plus faibles.

Spanish

Campo(s) temático(s)
  • Doctrinas, políticas y sistemas económicos
  • Inversiones
DEF

En el monetarismo, principio según el cual la política fiscal pierde posibilidades, ya que el gasto público que estimula la economía - a través del efecto de atracción - debe ser financiado con recursos que reducen la capacidad de inversión del sector privado.

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