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Public Capital and Economic Growth: A Convergence Approach

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Author Info
 Shioji, Etsuro
Abstract

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. Copyright 2001 by Kluwer Academic Publishers

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Publisher Info
Article provided by Springer in its journal Journal of Economic Growth.

Volume (Year): 6 (2001)
Issue (Month): 3 (September)
Pages: 205-27
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Handle: RePEc:kap:jecgro:v:6:y:2001:i:3:p:205-27

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  2. 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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  3. Osipian, Ararat, 2007. "Экономический Рост: Образование Как Фактор Производства
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  4. DOBSON, Steve & RAMLOGAN, Carlyn & STROBL, Eric, 2003. "Why do rates of convergence differ ? A meta-regression analysis," CORE Discussion Papers 2003020, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE). [Downloadable!]
  5. Pääkkönen, Jenni, 2009. "Economic Freedom as a Driver for Growth in Transition," BOFIT Discussion Papers 1/2009, Bank of Finland, Institute for Economies in Transition. [Downloadable!]
  6. Hongbin Li & Zheyu Yang & Xianguo Yao & Junsen Zhang, 2009. "Entrepreneurship and Growth: Evidence from China," Discussion Papers 00022, Chinese University of Hong Kong, Department of Economics. [Downloadable!]
  7. Francisco Alvarez & Gustavo A. Marrero & Luis A. Puch, . "Air pollution and the macroeconomy across European countries," Working Papers 2005-10, FEDEA. [Downloadable!]
  8. Francisco Rodríguez, 2006. "Have Collapses in Infrastructure Spending Led to Cross-Country Divergence in per Capita GDP?," Wesleyan Economics Working Papers 2006-013, Wesleyan University, Department of Economics. [Downloadable!]
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  9. Bernhard Herz & Lukas Vogel, 2003. "Regional Convergence in Central and Eastern Europe: Evidence from a Decade of Transition," Macroeconomics, Department of Economics, Economics I, Bayreuth University, pages 155-179. [Downloadable!]
  10. Osipian, Ararat, 2007. "Human capital—economic growth nexus in the former Soviet Bloc," MPRA Paper 8463, University Library of Munich, Germany. [Downloadable!]
  11. A. Özlem Önder & Metin Karadag & Ertugrul Deliktas, 2007. "The Effects of Public Capital on Regional Convergence in Turkey," Working Papers 0701, Ege University, Department of Economics. [Downloadable!]
  12. Cristina Checherita & Christiane Nickel & Philipp Rother, 2009. "The role of fiscal transfers for regional economic convergence in Europe," Working Paper Series 1029, European Central Bank. [Downloadable!]
  13. Aiello, Francesco & Pupo, Valeria, 2009. "Capacità di gestione, efficienza istituzionale e impatto dei Fondi Strutturali in Italia
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