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On the effectiveness of private and public capital

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  • Rosina Moreno
  • Enrique LOpez-bazo
  • Manuel ArtIs

Abstract

This study assesses the effectiveness of private and public capital investments in the performance of manufactures within the framework of the duality theory. The response of costs of production and input utilization to changes in the stocks of private and public capital is measured by the appropriate elasticities obtained from a cost function. Instead of considering private capital either as a variable or fixed input on a priori grounds, its nature is checked, that is, the study discriminates between a long- and a short-run situation. The empirical exercise is made for the manufacturing industries in the Spanish regions.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics.

Volume (Year): 35 (2003)
Issue (Month): 6 ()
Pages: 727-740

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Handle: RePEc:taf:applec:v:35:y:2003:i:6:p:727-740

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  1. Morrison, Catherine J & Schwartz, Amy Ellen, 1996. "State Infrastructure and Productive Performance," American Economic Review, American Economic Association, vol. 86(5), pages 1095-1111, December.
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Citations

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Cited by:
  1. Balazs Egert & Tomasz Kozluk & Douglas Sutherland, 2009. "Infrastructure and Growth: Empirical Evidence," CESifo Working Paper Series 2700, CESifo Group Munich.
  2. Enrique Lopez-Bazo & Rosina Moreno, 2007. "Does Human Capital Stimulate Investment In Physical Capital? Evidence From A Cost System Framework," IREA Working Papers 200717, University of Barcelona, Research Institute of Applied Economics, revised Dec 2007.
  3. Emanuela Marrocu & Raffaele Paci & Marco Pontis, 2012. "Intangible capital and firms' productivity," Industrial and Corporate Change, Oxford University Press, vol. 21(2), pages 377-402, April.
  4. Afonso, António & González Alegre, Juan, 2008. "Economic growth and budgetary components: a panel assessment for the EU," Working Paper Series 0848, European Central Bank.
  5. Ward Romp & Jakob de Haan, 2007. "Public Capital and Economic Growth: A Critical Survey," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 8(s1), pages 6-52, 04.
  6. E. Marrocu & R. Paci, 2006. "The effects of public capital on the productivity of the Italian regions," Working Paper CRENoS 200613, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  7. Alfredo Pereira & Jorge Andraz, 2012. "On the economic effects of public infrastructure investment: A survey of the international evidence," CEFAGE-UE Working Papers 2012_10, University of Evora, CEFAGE-UE (Portugal).
  8. Bertarelli Silvia, 2006. "Capitale pubblico e crescita: una sintesi critica," Politica economica, Società editrice il Mulino, issue 3, pages 361-398.
  9. Valter Di Giacinto & Giacinto Micucci & Pasqualino Montanaro, 2012. "The Macroeconomic Impact of Infrastructures: A Literature Review and Empirical Analysis on the Case of Italy," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, issue 1, March.
  10. Emanuela Marrocu & Raffaele Paci & Marco Pontis, 2011. "Intangible capital and firms productivity (refereed paper)," ERSA conference papers ersa10p496, European Regional Science Association.
  11. Rodríguez Vález, J. & Arias Sampedro, C., 2004. "Desbordamiento espacial de la productividad de las infraestructuras: una aplicación con fronteras estocásticas," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 22, pages 1-16, Diciembre.

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