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Using data for advanced and emerging economies, we show that there is a negative correlation between public debt and corporate investment. Industry-level regressions show that high levels of government debt are particularly damaging for industries that need more external financial resources. Firm-level regressions show that government debt increases the sensitivity of corporate investment to cash flow. These results indicate that the relationship between public debt and investment is likely to be causal and that public debt crowds out corporate investment by tightening credit constraints.

This open access book provides a set of conceptual, empirical, and comparative chapters that apply a public policy perspective to investigate the political and institutional factors driving the use of evidence to inform health policy in low, middle, and high income settings. The work presents key findings from the Getting Research Into Policy (GRIP-Health) project: a five year, six country, programme of work supported by the European Research Council. The chapters further our understanding of evidence utilisation in health policymaking through the application of theories and methods from the policy sciences. They present new insights into the roles and importance of factors such as issue contestation, institutional arrangements, logics of appropriateness, and donor influence to explore individual cases and comparative experiences in the use of evidence to inform health policy.