Public Capital Maintenance, Decentralization and U.s. Productivity Growth
AbstractData published by the U.S. Congressional Budget Office show that over the last fifty years expenditures for infrastructureÃƒÂ¢Ã¯Â¿Â½Ã¯Â¿Â½s operations and maintenance (O&M) have roughly equalled those for new capital. We use this dataset to investigate the productive impact of public infrastructure spending taking into account its composition for each government level. We find that a rise (fall) in infrastructure expenditures by states and localities (the federal government) would enhance future productivity growth and that the rise in state and local spending should mainly come from additional O&M outlays in the transport sector.
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Bibliographic InfoPaper provided by Athens University of Economics and Business in its series DEOS Working Papers with number 1126.
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Publication status: Forthcoming in Public Finance Review
capital; maintenance; fiscal decentralization; private productivity;
Other versions of this item:
- Sarantis Kalyvitis & Eugenia Vella, 2011. "Public Capital Maintenance, Decentralization, and US Productivity Growth," Public Finance Review, , vol. 39(6), pages 784-809, November.
- E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
- H76 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Other Expenditure Categories
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