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Public Capital and Total Factor Productivity

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Author Info
Lynde, Catherine
Richmond, J
Abstract

This paper examines the impact of the stock of public capital on output levels and productivity growth rates in the United States. The analysis is based on the estimation of parameters in a translog profit function. Prices of intermediate goods are introduced into a quasiproduction function for value-added. Recently developed econometric techniques for dealing with nonstationary time series are used in the estimation. The authors find that the services of public capital are an important part of the production process and that about 40 percent of the productivity decline is explained by a fall in the public capital-labor ratio. Copyright 1993 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

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Article provided by Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association in its journal International Economic Review.

Volume (Year): 34 (1993)
Issue (Month): 2 (May)
Pages: 401-14
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Handle: RePEc:ier:iecrev:v:34:y:1993:i:2:p:401-14

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  1. Higgins, Matthew & Young, Andrew & Levy, Daniel, 2009. "Federal, State, and Local Governments: Evaluating their Separate Roles in US Growth," MPRA Paper 13094, University Library of Munich, Germany. [Downloadable!]
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  2. Manoj Atolia, 2003. "An OLG Model of Tax Evasion with Public Capital," Working Papers wp2003_04_01, Department of Economics, Florida State University. [Downloadable!]
  3. Fu, Feng-Cheng & Vijverberg, Chu-Ping C. & Vijverberg, Wim P. M., 2004. "Public Infrastructure as a Determinant of Intertemporal and Interregional Productive Performance in China," IZA Discussion Papers 1019, Institute for the Study of Labor (IZA). [Downloadable!]
  4. Steve Dowrick, 1995. "The Determinants of Long-Run Growth," RBA Annual Conference Volume, in: Palle Andersen & Jacqueline Dwyer & David Gruen (ed.), Productivity and Growth Reserve Bank of Australia. [Downloadable!]
  5. Salvador Ortigueira, 1999. "Equilibrium Indeterminacy in an Endogenous Growth Model: Debt as a Coordination Device," Working Papers 9901, Centro de Investigacion Economica, ITAM. [Downloadable!]
  6. Baffes, John & Shah, Anwar, 1993. "Productivity of public spending, sectoral allocation choices, and economic growth," Policy Research Working Paper Series 1178, The World Bank. [Downloadable!]
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  7. Gustavo A. Marrero, 2001. "Coordinating short- and long-run public investment rules," Documentos del Instituto Complutense de Análisis Económico 0109, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales. [Downloadable!]
  8. Jose da Silva Costa, 1998. "The productive role of public infrastructure: A critical review of recent literature," ERSA conference papers ersa98p95, European Regional Science Association. [Downloadable!]
  9. Torstein Bye and Alexandra Katz, 1995. "Returns to Publicly Owned Transport Infrastructure Investment . A Cost Function/Cost Share Approach for Norway, 1971-1991," Discussion Papers 154, Research Department of Statistics Norway. [Downloadable!]
  10. 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!]
  11. Raymond Batina, 1998. "On the Long Run Effects of Public Capital and Disaggregated Public Capital on Aggregate Output," International Tax and Public Finance, Springer, vol. 5(3), pages 263-281, July. [Downloadable!] (restricted)
  12. David Alan Aschauer, 1998. "Optimal Financing by Money and Taxes of Productive and Unproductive Government Spending: Effects on Economic Growth, Inflation, and Welfare," Macroeconomics 9808005, EconWPA, revised 01 Sep 1998. [Downloadable!]
  13. Ejaz Ghani & Musleh-Ud Din, 2006. "The Impact of Public Investment on Economic Growth in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 45(1), pages 87-98. [Downloadable!]
  14. Manoj Atolia, 2003. "Public Investment, Tax Evasion and Welfare Effects of a Tariff Reform," Working Papers wp2003_10_01, Department of Economics, Florida State University, revised Oct 2008. [Downloadable!]
  15. Gustavo A. Marrero, 2004. "The public investment rule in a simple endogenous endogenous growth model with public capital: active or pasive?," Documentos del Instituto Complutense de Análisis Económico 0401, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales. [Downloadable!]
  16. Yasser Abdih & Frederick L. Joutz, 2008. "The Impact of Public Capital, Human Capital, and Knowledge on Aggregate Output," IMF Working Papers 08/218, International Monetary Fund. [Downloadable!]
  17. Xavier Raurich & Hector Sala & Valeri Sorolla, 2002. "Employment and Public Capital in Spain," Working Papers wp0204-1, Department of Applied Economics at Universitat Autonoma of Barcelona. [Downloadable!]
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  18. 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!]
  19. Poot, Jacques, 1999. "A meta-analytic study of the role of government in long-run economic growth," ERSA conference papers ersa99pa171, European Regional Science Association. [Downloadable!]
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