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On the economic effects of public infrastructure investment:A survey of the international evidence

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  • Alfredo Marvão Pereira

    ()
    (Department of Economics, The College of William and Mary)

  • Jorge M. Andraz

    ()
    (Faculdade de Economia, Universidade do Algarve)

Abstract

This paper is an up-to-date survey of the most important literature on the effects of public infrastructure investment on economic performance and therefore constitutes a comprehensive starting reference for academic researchers and policy makers alike. It presents a comprehensive discussion of the empirical research on the impact of public infrastructure investment on economic performance in terms of both the methodological approaches and respective conclusions. It includes an integrated discussion of the methodological developments that successively have led to the estimation of production functions, cost and profit functions and, more recently, vector autoregressive models. Finally, it identifies some important areas for future research and highlights the natural convergence of this literature with the macro literature on the effects of fiscal policies.

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Bibliographic Info

Paper provided by Department of Economics, College of William and Mary in its series Working Papers with number 108.

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Length: 30 pages
Date of creation: 23 Jul 2013
Date of revision:
Handle: RePEc:cwm:wpaper:108

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Keywords: public investment; infrastructure; economic performance; evidence for the US; regional evidence; industry-specific evidence; international evidence.;

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Cited by:
  1. Diogo Barbosa & Vitor M. Carvalho & Paulo J. Pereira, 2013. "The interaction between firms and Government in the context of investment decisions: a real options approach," FEP Working Papers 507, Universidade do Porto, Faculdade de Economia do Porto.

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