Will expansionary fiscal policy produce crowding-out effect? Why?

The crowding-out effect of fIScal policy depends on many factors in the market economy, such as the equilibrium model of product market and money market, that is, the "is-LM" model, which depends on the slopes of IS and LM curves. The slope mainly reflects the degree to which private investment reflects the change of interest rate in market economy. Because investment is a decreasing function of interest rate level, investment is very sensitive to the change of interest rate. Generally speaking, the elasticity of investment interest rate is large, and the crowding-out effect of fiscal policy is large; The elasticity of investment interest rate is small, and the crowding-out effect of fiscal policy is small. If the interest rate remains unchanged, that is, in the Keynesian trap area, the crowding-out effect is zero. For example, with the implementation of expansionary fiscal policy, the interest rate rises very high, that is, in the classical region, the crowding-out effect will be infinite, and the expansion effect of government fiscal policy is equal to zero. In a market where resources are completely allocated by the government, the crowding-out effect does not exist, because the change of government expenditure is not affected by the interest rate level.