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Is there a lack of public capital in the European Union?

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  • Kamps, Christophe

    ()
    (Kiel Institute for World Economics)

Abstract

This paper investigates whether there is a lack of public capital in European Union countries. The analysis builds on a new database providing internationally comparable capital stock estimates for 22 OECD countries, among these 14 EU countries, for the period 1960-2001. A simple model of endogenous growth is used in order to highlight the inherently nonlinear relationship between public capital and economic growth and to derive a measure of the growth-maximising public capital stock. Against this background, the empirical analysis provides estimates of the growth-maximising level of public capital for EU countries. The empirical results suggest that there currently is no lack of public capital in most "old" EU countries.

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Bibliographic Info

Paper provided by European Investment Bank, Economics Department in its series EIB Papers with number 3/2005.

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Length: 22 pages
Date of creation: 06 Jun 2005
Date of revision:
Handle: RePEc:ris:eibpap:2005_003

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Related research

Keywords: public capital; economic growth;

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Cited by:
  1. Efraim Sadka, 2006. "Public-Private Partnerships," IMF Working Papers 06/77, International Monetary Fund.
  2. Augustin Kwasi Fosu & Yoseph Yilma Getachew & Thomas Ziesemer, 2011. "Optimal public investment, growth, and consumption: Evidence from African countries," CSAE Working Paper Series 2011-22, Centre for the Study of African Economies, University of Oxford.
  3. Crafts, Nicholas & Hughes, Alan, 2014. "Industrial Policy for the Medium to Long-term," CAGE Online Working Paper Series 179, Competitive Advantage in the Global Economy (CAGE).
  4. Andrés Rodríguez-Pose & Yannis Psycharis & Vassilis Tselios, 2012. "Public investment and regional growth and convergence: Evidence from Greece," Papers in Regional Science, Wiley Blackwell, vol. 91(3), pages 543-568, 08.
  5. Valter Di Giacinto & Giacinto Micucci & Pasqualino Montanaro, 2012. "The Macroeconomic Impact of Infrastructures: A Literature Review and Empirical Analysis on the Case of Italy," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, issue 1, March.
  6. Romp, Ward & de Haan, Jakob, 2005. "Public capital and economic growth: a critical survey," EIB Papers 2/2005, European Investment Bank, Economics Department.
  7. Nicholas Crafts, 2013. "Long-Term Growth in Europe: What Difference does the Crisis Make?," National Institute Economic Review, National Institute of Economic and Social Research, vol. 224(1), pages R14-R28, May.
  8. Getachew, Yoseph Yilma, 2010. "Public capital and distributional dynamics in a two-sector growth model," Journal of Macroeconomics, Elsevier, vol. 32(2), pages 606-616, June.
  9. Yoseph Yilma Getachew, 2011. "Public Investment Policy, Distribution, and Growth: What Levels of Redistribution through Public Investment Maximize Growth?," DEGIT Conference Papers c016_072, DEGIT, Dynamics, Economic Growth, and International Trade.
  10. repec:cge:warwcg:178 is not listed on IDEAS
  11. Checherita-Westphal, Cristina & Hughes Hallett, Andrew & Rother, Philipp, 2012. "Fiscal sustainability using growth-maximising debt targets," Working Paper Series 1472, European Central Bank.
  12. Shi, Hao & Huang, Shaoqing, 2014. "How Much Infrastructure Is Too Much? A New Approach and Evidence from China," World Development, Elsevier, vol. 56(C), pages 272-286.
  13. repec:cge:warwcg:90 is not listed on IDEAS

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