Public Capital and Economic Growth: A Convergence Approach作者:Shioji, Etsuro作者单位:Yokohama National U来源:Journal of Economic Growth, September 2001, v. 6, iss. 3, pp. 205-27出版日期:September 2001摘要:This paper estimates dynamic effects of public capital on output per capita. Based on an open economy growth model, I derive a version of the income convergence equation augmented with public capital. This equation is estimated using panel data of United States and Japanese regions. Sensible results are obtained when public capital is disaggregated into components. In both countries, the infrastructure component of public capital turns out to have significantly positive effects. The implied elasticity of output with respect to infrastructure is somewhere around 0.1 to 0.15. This suggests a modest contribution of infrastructure to postwar growth of the two countries.描述符:National Government Expenditures and Related Policies: Infrastructures; Other Public Investment and Capital Stock (H540)
Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence (O470)
Economic Growth of Open Economies (F430)
Regional Economic Activity: Growth, Development, and Changes (R110)关键字:Convergence; Economic Growth; Growth; Infrastructure; Open Economy; Public Capital地理描述符:U.S.; JapanGeographic Region:Northern America; AsiaISSN:13814338出版物类型:Journal Article可用性:
http://www.springerlink.com/link.asp?id=102931更新代码:
200111入藏编号:
0587737数据库: EconLit with Full Text
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