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Spatial Competition and Accumulation of Public Capital

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  • Nakayama, Yuji
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    Abstract

    This paper examines the effect of public capital accumulation on private sectors' productivity in a general equilibrium model where a public capital, such as a transportation infrastructure, affects households' disutility of moving. The focus is on indirect channels through which it affects the productivity. The study finds that the accumulation of public capital does not necessarily enhance the productivity of private sectors when there are plenty of initial public capital or the productivity of public sectors is low. However, it also finds that there are cases where public capital accumulation improves social welfare even if it reduces the productivity.

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    File URL: http://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/14489/1/pie_dp34.pdf
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    Bibliographic Info

    Paper provided by Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University in its series Discussion Paper with number 34.

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    Length: 22, [1] p.
    Date of creation: Aug 2001
    Date of revision:
    Handle: RePEc:hit:piedp1:34

    Note: August 13, 2001
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    1. Devarajan, Shantayanan & Danyang, Xie & Zou, Heng-fu, 1998. "Should public capital be subsidized or provided?," Journal of Monetary Economics, Elsevier, vol. 41(2), pages 319-331, April.
    2. Sturm, Jan-egbert & Jacobs, Jan & Groote, Peter, 1999. "Output Effects of Infrastructure Investment in the Netherlands, 1853-1913," Journal of Macroeconomics, Elsevier, vol. 21(2), pages 355-380, April.
    3. Glomm, Gerhard & Ravikumar, B., 1997. "Productive government expenditures and long-run growth," Journal of Economic Dynamics and Control, Elsevier, vol. 21(1), pages 183-204, January.
    4. Chandra, Amitabh & Thompson, Eric, 2000. "Does public infrastructure affect economic activity?: Evidence from the rural interstate highway system," Regional Science and Urban Economics, Elsevier, vol. 30(4), pages 457-490, July.
    5. Alicia H. Munnell, 1990. "Why has productivity growth declined? Productivity and public investment," New England Economic Review, Federal Reserve Bank of Boston, issue Jan, pages 3-22.
    6. Gramlich, Edward M, 1994. "Infrastructure Investment: A Review Essay," Journal of Economic Literature, American Economic Association, vol. 32(3), pages 1176-96, September.
    7. Futagami, Koichi & Morita, Yuichi & Shibata, Akihisa, 1993. " Dynamic Analysis of an Endogenous Growth Model with Public Capital," Scandinavian Journal of Economics, Wiley Blackwell, vol. 95(4), pages 607-25, December.
    8. Fisher, Walter H & Turnovsky, Stephen J, 1998. "Public Investment, Congestion, and Private Capital Accumulation," Economic Journal, Royal Economic Society, vol. 108(447), pages 399-413, March.
    9. von Ungern-Sternberg, Thomas, 1988. "Monopolistic Competition and General Purpose Products," Review of Economic Studies, Wiley Blackwell, vol. 55(2), pages 231-46, April.
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