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Public Investment and the Risk Premium for Equity

Grant, Simon; Quiggin, John

Description

Analysis of the equity premium puzzle has focused on private-sector capital markets. However, the existence of an anomalous equity premium raises important issues in the evaluation of public-sector investment projects. These issues are explored below. We

CollectionsANU Research Publications
Date published: 2003
Type: Journal article
URI: http://hdl.handle.net/1885/76817
Source: Economica
DOI: 10.1111/1468-0335.t01-1-00268

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