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Thresholds Effects, Public Capital And The Growth Of The United States

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  • José García-Montalvo

    (Instituto Valenciano de Investigaciones Económicas)

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    Abstract

    El documento analiza la posibilidad de efectos umbral en el crecimiento asociados con la intensidad de capital público. Se estima un modelo de crecimiento de Solow aumentado con capital humano usando datos de los estados estadounidenses para el período 1969-86, rechazándose la existencia de un régimen único para todos los estados, cuando el capital público es utilizado para discriminar movimientos en la función de producción. La tasa de convergencia para los estados difiere dependiendo de su nivel inicial de capital público. Se discuten las implicaciones de la política económica de estos resultados. This paper analyzes the possibility of threshold effects in growth associated with the intensity of public capital. A Solow growth model augmented by human capital is estimated using US states data for the period 1969-86. The existence of a unique regime for all the states is strongly rejected by the data when public capital per capita is used to discriminate shifts in the production function. The rate of convergence for states differs depending on their initial level of public capital. The economic policy implications of these results are discussed .

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    File URL: http://www.ivie.es/downloads/docs/wpasec/wpasec-1993-11.pdf
    File Function: Fisrt version / Primera version, 1993
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    Bibliographic Info

    Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie EC with number 1993-11.

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    Length: 36 pages
    Date of creation: Dec 1993
    Date of revision:
    Publication status: Published by Ivie
    Handle: RePEc:ivi:wpasec:1993-11

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    9. Barro, R.J., 1989. "Economic Growth In A Cross Section Of Countries," RCER Working Papers 201, University of Rochester - Center for Economic Research (RCER).
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    19. Francisco Pérez García & Matilde Mas Ivars, 1990. "Los Determinantes De La Evolucion De La Productividad En Espana," Working Papers. Serie EC 1990-01, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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    22. Joaquín Maudos Villarroya, 1991. "El Impacto Del Cambio Tecnologico En El Sistema Bancario: El Cajero Automatico," Working Papers. Serie EC 1991-10, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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