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Public Capital and Long-Run Costs in U.K. Manufacturing

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Author Info
Lynde, Catherine
Richmond, J
Abstract

A model of U.K. manufacturing production that incorporates the inputs of public as well as private capital is specified and estimated. The model is then used to measure the contribution of public capital to productivity growth over the period 1966 to 1990. It is found that, before 1980, the public and private capital contributions were of comparable magnitude. After 1980, the contribution of public capital declined significantly. Copyright 1993 by Royal Economic Society.

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Publisher Info
Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 103 (1993)
Issue (Month): 419 (July)
Pages: 880-93
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Handle: RePEc:ecj:econjl:v:103:y:1993:i:419:p:880-93

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  2. Philip Arestis & Panicos Demetriades & Bassam Fattouh, 2002. "Financial Policies and the Aggregate Productivity of the Capital Stock: Evidence from Developed and Developing Economies," Economics Working Paper Archive 362, Levy Economics Institute, The. [Downloadable!]
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  3. Jan-Egbert Sturm & Gerard H. Kuper,, 1996. "The dual approach to the public capital hypothesis: the case of The Netherlands," Working Papers 26, Centre for Economic Research, University of Groningen and University of Twente. [Downloadable!]
  4. P. Demetriades, 1998. "International Aspects of Public Infrastructure Investment," CIBS Research Papers in International Business 8-98, London South Bank University CIBS. [Downloadable!]
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  5. Antonis Rovolis & Nigel Spence, 1998. "Duality theory and cost function analysis in a regional context: the impact of public infrastructure capital in the Greek Regions," ERSA conference papers ersa98p465, European Regional Science Association. [Downloadable!]
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