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Capitale pubblico e produttività nelle regioni italiane

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  • R. Paci

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  • S. Saddi

Abstract

This paper aims at contributing to the growing literature on the influence of public capital to the overall productivity levels. Using a panel of 20 Italian regions over the period 1970-1995 we estimate a production function which includes as inputs - units of labour, private capital and public capital. As a measure of public capital we compute the stock of public infrastructure at the regional level. A preliminary analysis shows that our series are cointegrated and this result ruled out the possibility of spurious regression in the estimation of the production function. Our results show that the estimated elasticity of output with respect to public capital is positive and statistically significant for the whole country and also for all the macro regions, with the exception of the Centre. Moreover, the disaggregation of public capital into functional categories emphasises the important role played by the infrastructures directly related to the economic production like transportation networks, telecommunications, airports.

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Bibliographic Info

Paper provided by Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia in its series Working Paper CRENoS with number 200201.

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Date of creation: 2002
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Handle: RePEc:cns:cnscwp:200201

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Keywords: public capital; production function; regional disparities; italy;

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References

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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. Aschauer, David Alan, 1989. "Is public expenditure productive?," Journal of Monetary Economics, Elsevier, Elsevier, vol. 23(2), pages 177-200, March.
  3. Jeroen J.M. Kremers & Neil R. Ericsson & Juan J. Dolado, 1992. "The power of cointegration tests," International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) 431, Board of Governors of the Federal Reserve System (U.S.).
  4. Randall W. Eberts, 1990. "Public infrastructure and regional economic development," Economic Review, Federal Reserve Bank of Cleveland, Federal Reserve Bank of Cleveland, issue Q I, pages 15-27.
  5. Garcia-Mila, Teresa & McGuire, Therese J., 1992. "The contribution of publicly provided inputs to states' economies," Regional Science and Urban Economics, Elsevier, Elsevier, vol. 22(2), pages 229-241, June.
  6. Danny Quah, 1993. "Exploiting Cross Section Variation for Unit Root Inference in Dynamic Data," FMG Discussion Papers, Financial Markets Group dp171, Financial Markets Group.
  7. Karlsson, Sune & Lothgren, Mickael, 2000. "On the power and interpretation of panel unit root tests," Economics Letters, Elsevier, Elsevier, vol. 66(3), pages 249-255, March.
  8. Lucio Picci, 1995. "Productivity and Infrastructure in the Italian Regions," Working Papers 230, Dipartimento Scienze Economiche, Universita' di Bologna.
  9. R. Paci & R. Pala & E. Marrocu, 2000. "Estimation of total factor productivity for regions and sectors in Italy. A panel cointegration approach," Working Paper CRENoS 200016, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  10. Teresa Garcia-Milà & Therese J. McGuire & Robert H. Porter, 1993. "The effect of public capital in state-level production functions reconsidered," Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra 36, Department of Economics and Business, Universitat Pompeu Fabra.
  11. Holtz-Eakin, Douglas, 1994. "Public-Sector Capital and the Productivity Puzzle," The Review of Economics and Statistics, MIT Press, vol. 76(1), pages 12-21, February.
  12. Engle, Robert F & Granger, Clive W J, 1987. "Co-integration and Error Correction: Representation, Estimation, and Testing," Econometrica, Econometric Society, Econometric Society, vol. 55(2), pages 251-76, March.
  13. Gramlich, Edward M, 1994. "Infrastructure Investment: A Review Essay," Journal of Economic Literature, American Economic Association, American Economic Association, vol. 32(3), pages 1176-96, September.
  14. Mario Forni & Sergio Paba, 2000. "The Sources of Local Growth: Evidence from Italy," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 59(1), pages 1-49, April.
  15. 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.
  16. Levin, Andrew & Lin, Chien-Fu & James Chu, Chia-Shang, 2002. "Unit root tests in panel data: asymptotic and finite-sample properties," Journal of Econometrics, Elsevier, Elsevier, vol. 108(1), pages 1-24, May.
  17. Evans, Paul & Karras, Georgios, 1994. "Are Government Activities Productive? Evidence from a Panel of U.S. States," The Review of Economics and Statistics, MIT Press, vol. 76(1), pages 1-11, February.
  18. Ferri, G. & Mattesini, F., 1997. "Finance, Human Capital and Infrastructure: An Empirical Investigation of Post-War Italian Growth," Papers, Banca Italia - Servizio di Studi 321, Banca Italia - Servizio di Studi.
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Citations

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Cited by:
  1. Raffaello Bronzini & Piero Casadio & Giuseppe Marinelli, 2012. "What the Regional Transport Infrastructure Indicators Can and Cannot Tell Us," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, Associazione Rossi Doria, issue 1, March.
  2. Alessandra Faggian & Bianca Biagi, 2003. "Measuring Regional Multipliers: a Comparison between two Different Methodologies for the case of the italian Regions," SCIENZE REGIONALI, FrancoAngeli Editore, FrancoAngeli Editore, vol. 2003(1).
  3. E. Marrocu & R. Paci & F. Pigliaru, 2006. "Gli effetti del capitale pubblico sulla produttività delle regioni italiane," Working Paper CRENoS 200601, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  4. Emanuela Marrocu & Raffaele Paci, 2010. "The effects of public capital on the productivity of the Italian regions," Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 42(8), pages 989-1002.
  5. 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, Associazione Rossi Doria, issue 1, March.
  6. Davide Piacentino & Erasmo Vassallo, 2011. "Exploring the sources of labour productivity growth and convergence in the Italian regions: some evidence from a production frontier approach," The Annals of Regional Science, Springer, Springer, vol. 46(2), pages 469-486, April.

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