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Economic Growth and Infrastructure Gap in Latin America

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  • Federica Liberini

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    (Università degli Studi di Roma "Tor Vergata")

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    Abstract

    This paper analyses the recent trends in infrastructures of Latin American, with the aim of addressing the problem of measuring and evaluating the infrastructural gap. Departing from the recent literature on economic growth and public finance, we defined the infrastructure need of a country through a model of demand. The use of a large dataset (121 countries spanned over 1960-1999) made it possible to estimate the optimal level of infrastructure provision. To conclude, a comparative inter-regional analysis of the infrastructural gap between the Latin American, East Asian, OECD and middle income countries was conducted to check if the reduction in infrastructural investment was caused by the evolution of infrastructure needs, or if it was due to a widespread inefficiency caused by the underestimation of actual needs.

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    File URL: http://www.rivistapoliticaeconomica.it/2006/nov_dic/pdf/Liberini_eng.pdf
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    Bibliographic Info

    Article provided by SIPI Spa in its journal Rivista di Politica Economica.

    Volume (Year): 96 (2006)
    Issue (Month): 6 (November-December)
    Pages: 145-186

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    Handle: RePEc:rpo:ripoec:v:96:y:2006:i:6:p:145-186

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    1. Maddala, G S & Wu, Shaowen, 1999. " A Comparative Study of Unit Root Tests with Panel Data and a New Simple Test," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(0), pages 631-52, Special I.
    2. Barro, Robert J, 1990. "Government Spending in a Simple Model of Endogenous Growth," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S103-26, October.
    3. Steve Bond, 2002. "Dynamic panel data models: a guide to microdata methods and practice," CeMMAP working papers CWP09/02, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
    4. Im, Kyung So & Pesaran, M. Hashem & Shin, Yongcheol, 2003. "Testing for unit roots in heterogeneous panels," Journal of Econometrics, Elsevier, vol. 115(1), pages 53-74, July.
    5. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Wiley Blackwell, vol. 58(2), pages 277-97, April.
    6. Esfahani, Hadi Salehi & Ramirez, Maria Teresa, 2003. "Institutions, infrastructure, and economic growth," Journal of Development Economics, Elsevier, vol. 70(2), pages 443-477, April.
    7. Aschauer, David Alan, 1989. "Is public expenditure productive?," Journal of Monetary Economics, Elsevier, vol. 23(2), pages 177-200, March.
    8. Canning, David, 1998. "A Database of World Stocks of Infrastructure, 1950-95," World Bank Economic Review, World Bank Group, vol. 12(3), pages 529-47, September.
    9. Demetriades, Panicos O & Mamuneas, Theofanis P, 2000. "Intertemporal Output and Employment Effects of Public Infrastructure Capital: Evidence from 12 OECD Economics," Economic Journal, Royal Economic Society, vol. 110(465), pages 687-712, July.
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