Public Capital and Growth
AbstractThis paper estimates the impact of public capital on economic growth for forty-eight OECD and non-OECD countries during 1960 - 2001. Using the production function and its extensions, it finds a positive - but concave - elasticity of output with respect to public capital, which is robust to changes in time intervals and varying depreciation rates. Furthermore, in non-OECD countries the growth impact of public capital is higher once longer time intervals are considered.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 10/175.
Date of creation: 01 Jul 2010
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