Public Capital and Output Growth in Portugal: An Empirical Analysis

The paper investigates the growth effects of public capital in Portugal using annual data for the period 1965-95. Both a production function and a vector autoregressive model are estimated. Public capital is shown to be a significant long-term determinant of output growth. The size of the estimated production elasticity indicates, in line with studies for other countries, a substantial growth payoff from public investment. Disaggregating public capital shows that investment related to, among other things, roads, railways, and airports is more productive than public investment in other major categories.
READ MORE...
Volume/Issue: Volume 2000 Issue 011
Publication date: January 2000
ISBN: 9781451842777
$20.00
Add to Cart by clicking price of the language and format you'd like to purchase
Available Languages and Formats
Paperback
PDF
ePub
Mobi
English
Prices in red indicate formats that are not yet available but are forthcoming.
Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Business and Economics , Public Finance , WP , capital stock , public capital , capital , cointegration , granger causality , infrastructure , public investment , Engle-Granger result , least squares , constant returns to scale , output effect , time series , utilization rate , Public investment and public-private partnerships (PPP) , Stocks , Vector autoregression , Government debt management , Capital productivity

Also of interest
WORKING PAPERS PUBLISHED IN FEBRUARY 2003
WORKING PAPERS PUBLISHED IN MAY 2003
WORKING PAPERS PUBLISHED IN JULY 2006
WORKING PAPERS PUBLISHED IN JULY 2005
Summary

The paper investigates the growth effects of public capital in Portugal using annual data for the period 1965-95. Both a production function and a vector autoregressive model are estimated. Public capital is shown to be a significant long-term determinant of output growth. The size of the estimated production elasticity indicates, in line with studies for other countries, a substantial growth payoff from public investment. Disaggregating public capital shows that investment related to, among other things, roads, railways, and airports is more productive than public investment in other major categories.

Powered by: AIDC