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Productivity and returns to infrastructure using maximum entropy estimation

Author

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  • Rodríguez-Vález, Jorge

    (Universidad de León)

Abstract

Maximum entropy econometrics is well suited to estimate models with very few observations or to deal with multicollinearity. These are common problems in the estimation of a regional production function. In this paper, maximum entropy is used to analyze two issues that, so far, have not been fully addressed in the literature: the temporal stability of output elasticity of infrastructure and the change on its values across regions. We estimate the elasticity for each region to calculate the productivity and the social returns of infrastructure. The results show a decrease over time and the existence of important regional differences in both productivity and social returns of infrastructure. Hence, the effects of infrastructures on production can be very different across regions.

Suggested Citation

  • Rodríguez-Vález, Jorge, 2006. "Productivity and returns to infrastructure using maximum entropy estimation," INVESTIGACIONES REGIONALES - Journal of REGIONAL RESEARCH, Asociación Española de Ciencia Regional, issue 8, pages 123-139.
    • Handle: RePEc:ris:invreg:0156
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    More about this item

    Keywords

    Infrastructure; productivity; social returns; maximum entropy;
    All these keywords.

    JEL classification:

    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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