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The Effects of Public Infrastructure and R&D Capital on the Cost Structure and Performance of U.S. Manufacturing Industries

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  • Nadiri, M Ishaq
  • Mamuneas, Theofanis P

Abstract

In this paper we examine the effects of publicly financed infrastructure and R&D capitals on the cost structure and productivity performance of twelve two-digit U.S. manufacturing industries. The results suggest that there are significant productive effects from these two types of capital. Their effects on the cost structure vary across industries. Not only is the cost function shifted downward in each industry, generating productivity inducement, but the factor demand in each industry is also affected by the two types of public capital suggesting bias effects. We also calculate the marginal benefits of the two types of public capital services in each industry and estimate the 'social' rates of return to these capitals for the industries in our sample. Copyright 1994 by MIT Press.

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Bibliographic Info

Article provided by MIT Press in its journal Review of Economics & Statistics.

Volume (Year): 76 (1994)
Issue (Month): 1 (February)
Pages: 22-37

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Handle: RePEc:tpr:restat:v:76:y:1994:i:1:p:22-37

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  1. Alicia H. Munnell, 1990. "How does public infrastructure affect regional economic performance?," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, Federal Reserve Bank of Boston, vol. 34, pages 69-112.
  2. Mera, Koichi, 1973. "II. Regional production functions and social overhead capital: An analysis of the Japanese case," Regional and Urban Economics, Elsevier, Elsevier, vol. 3(2), pages 157-185, May.
  3. Bernstein, Jeffrey I. & Nadiri, M. Ishaq, 1990. "Product Demand, Cost Of Production, Spillovers And The Social Rate Or Return To R&D," Working Papers, C.V. Starr Center for Applied Economics, New York University 90-53, C.V. Starr Center for Applied Economics, New York University.
  4. John A. Tatom, 1991. "Public capital and private sector performance," Review, Federal Reserve Bank of St. Louis, Federal Reserve Bank of St. Louis, issue May, pages 3-15.
  5. David Aschauer, 1988. "Is public expenditure productive?," Staff Memoranda, Federal Reserve Bank of Chicago 88-7, Federal Reserve Bank of Chicago.
  6. Ernst R. Berndt & Bengt Hansson, 1991. "Measuring the Contribution of Public Infrastructure Capital in Sweden," NBER Working Papers 3842, National Bureau of Economic Research, Inc.
  7. John Scott, 1984. "Firm versus Industry Variability in R&D Intensity," NBER Chapters, National Bureau of Economic Research, Inc, in: R & D, Patents, and Productivity, pages 233-248 National Bureau of Economic Research, Inc.
  8. Alan J. Auerbach, 1983. "Corporate Taxation in the United States," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, Economic Studies Program, The Brookings Institution, vol. 14(2), pages 451-514.
  9. Ballard, Charles L & Shoven, John B & Whalley, John, 1985. "General Equilibrium Computations of the Marginal Welfare Costs of Taxes in the United States," American Economic Review, American Economic Association, American Economic Association, vol. 75(1), pages 128-38, March.
  10. repec:fth:harver:1528 is not listed on IDEAS
  11. Robert Ford & Pierre Poret, 1991. "Infrastructure and Private-Sector Productivity," OECD Economics Department Working Papers, OECD Publishing 91, OECD Publishing.
  12. Randall W. Eberts, 1986. "Estimating the contribution of urban public infrastructure to regional growth," Working Paper, Federal Reserve Bank of Cleveland 8610, Federal Reserve Bank of Cleveland.
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