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Public capital and economic growth: a critical survey

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Author Info
Romp, Ward () (Groningen University, the Netherlands)
de Haan, Jakob (Groningen University, the Netherlands)

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Abstract

This paper provides an overview of both theoretical and empirical literature on the link between public investment (capital) and economic growth (national income). We first survey the channels through which public capital can conceivably affect growth. We then turn to reviewing the existing empirical literature, and we conclude that although not all studies find a growth-enhancing effect of public capital, there is now more consensus than in the past that public capital furthers economic growth. However, the impact reported by recent studies is not as big as some earlier studies suggested. We conclude with an overview of what is known about the optimality of public capital stocks. Ward

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File URL: http://www.eib.org/attachments/efs/eibpapers/eibpapers_2005_v10_n01/eibpapers_2005_v10_n01_a02_en.pdf
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Publisher Info
Paper provided by European Investment Bank, Economic and Financial Studies in its series EIB Papers with number 2/2005.

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Length: 31 pages
Date of creation: 06 Jun 2005
Date of revision:
Handle: RePEc:ris:eibpap:2005_002

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Related research
Keywords: public capital; economic growth;

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Find related papers by JEL classification:
E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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This page was last updated on 2009-11-1.

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