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The Spatial Impact of Local Infrastructural Investment in New Zealand

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Author Info

  • William Cochrane

    ()
    (University of Waikato)

  • Arthur Grimes

    ()
    (Motu Economic and Public Policy Research; and University of Waikato)

  • Phillip McCann

    ()
    (University of Groningen)

  • Jacques Poot

    ()
    (University of Waikato)

Abstract

In this paper we estimate the impact of local authority infrastructure spending in New Zealand using spatial econometric modelling, with the infrastructure spending itself endogenously determined. Utilizing data from the New Zealand Census and Local Authorities Finance data (1991-2008), aggregated to functional labour market areas, we formulate a simultaneous equations growth model of real income, population, land rent and public infrastructure investment. Estimation is conducted using a spatial 3SLS procedure. We find that an increase in local infrastructure spending increases population growth, real income and land values, but is itself endogenous and spatially correlated.

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Bibliographic Info

Paper provided by Motu Economic and Public Policy Research in its series Working Papers with number 10_12.

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Length: 38 Pages
Date of creation: Oct 2010
Date of revision:
Handle: RePEc:mtu:wpaper:10_12

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Keywords: local infrastructure; economic growth; migration; land value; spatial spillover;

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  1. Garcia-Mila, Teresa & McGuire, Therese J., 1992. "The contribution of publicly provided inputs to states' economies," Regional Science and Urban Economics, Elsevier, vol. 22(2), pages 229-241, June.
  2. J. M. Casado-Diaz, 2000. "Local Labour Market Areas in Spain: A Case Study," Regional Studies, Taylor & Francis Journals, vol. 34(9), pages 843-856.
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