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Productivity of public spending, sectoral allocation choices, and economic growth Author info | Abstract | Publisher info | Download info | Related research | Statistics Baffes, John
Shah, Anwar
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The authors examine the composition of public spending and its implications for economic growth. They use a translog production function by treating gross domestic product as the output and labor, private capital, and several types of public sector capital stocks as the inputs, using time series data for 25 countries for 1965-84. The production functions of all but four countries exhibited increasing returns to scale. The highest output elasticity was for human resource development capital, followed by private capital and labor. Output elasticity of infrastructure capital was found to be relatively small, with the exception of Latin American countries where it exhibited relatively high values. Military capital had negative output elasticity in slightly more than half of the cases considered. The results suggest that reshaping public spending priorities in favor of human resource development and away from military spending would positively stimulate world economic renewal.
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Paper provided by The World Bank in its series Policy Research Working Paper Series with number
1178.
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Date of creation: 30 Sep 1993Date of revision:
Handle: RePEc:wbk:wbrwps:1178Contact details of provider: Postal: 1818 H Street, N.W., Washington, DC 20433 Email: Web page: http://www.worldbank.org/ More information through EDIRC
For technical questions regarding this item, or to correct its listing, contact: (Roula I. Yazigi).
Keywords: Economic Theory&Research Environmental Economics&Policies Economic Growth Inequality Banks&Banking Reform Other versions of this item:
Article Baffes, John & Shah, Anwar, 1998.
"Productivity of Public Spending, Sectoral Allocation Choices, and Economic Growth ,"
Economic Development and Cultural Change ,
University of Chicago Press, vol. 46(2), pages 291-303, January.
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Shah, Anwar, 1992.
"Dynamics of Public Infrastructure, Industrial Productivity and Profitability ,"
The Review of Economics and Statistics ,
MIT Press, vol. 74(1), pages 28-36, February.
[Downloadable!] (restricted)
Hulten, Charles R, 1992.
"Growth Accounting When Technical Change Is Embodied in Capital ,"
American Economic Review ,
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[Downloadable!] (restricted)
Berndt, Ernst R & Hansson, Bengt, 1992.
" Measuring the Contribution of Public Infrastructure Capital in Sweden ,"
Scandinavian Journal of Economics ,
Blackwell Publishing, vol. 94(0), pages S151-68, Supplemen.
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NBER Working Papers
3971, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Antle, John M, 1983.
"Infrastructure and Aggregate Agricultural Productivity: International Evidence ,"
Economic Development and Cultural Change ,
University of Chicago Press, vol. 31(3), pages 609-19, April.
Murphy, Kevin M & Shleifer, Andrei & Vishny, Robert W, 1989.
"Industrialization and the Big Push ,"
Journal of Political Economy ,
University of Chicago Press, vol. 97(5), pages 1003-26, October.
[Downloadable!] (restricted)
Other versions: Gordon R. Richards, 1992.
"Endogenous Technological Advance and Postwar Economic Growth: A Production Function Analysis ,"
Eastern Economic Journal ,
Eastern Economic Association, vol. 18(3), pages 315-331, Summer.
[Downloadable!]
McElroy, F W, 1969.
"Returns to Scale, Euler's Theorem, and the Form of Production Functions ,"
Econometrica ,
Econometric Society, vol. 37(2), pages 275-79, April.
[Downloadable!] (restricted)
Levine, Ross & Renelt, David, 1992.
"A Sensitivity Analysis of Cross-Country Growth Regressions ,"
American Economic Review ,
American Economic Association, vol. 82(4), pages 942-63, September.
[Downloadable!] (restricted)
Other versions: Christensen, Laurits R & Jorgenson, Dale W & Lau, Lawrence J, 1973.
"Transcendental Logarithmic Production Frontiers ,"
The Review of Economics and Statistics ,
MIT Press, vol. 55(1), pages 28-45, February.
[Downloadable!] (restricted)
Gordon R. Richards, 1992.
"Endogenous Technological Advance and Postwar Economic Growth: A Production Function Analysis ,"
Eastern Economic Journal ,
Palgrave Macmillan Journals, vol. 18(3), pages 315-331, Summer.
[Downloadable!] (restricted)
Landau, Daniel, 1993.
"The economic impact of military expenditures ,"
Policy Research Working Paper Series
1138, The World Bank.
[Downloadable!]
Alicia H. Munnell, 1990.
"Why has productivity growth declined? Productivity and public investment ,"
New England Economic Review ,
Federal Reserve Bank of Boston, issue Jan, pages 3-22.
Shah, Anwar, 1988.
"Public infrastructure and private sector profitability and productivity in Mexico ,"
Policy Research Working Paper Series
100, The World Bank.
[Downloadable!]
Lynde, Catherine & Richmond, J, 1993.
"Public Capital and Total Factor Productivity ,"
International Economic Review ,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 34(2), pages 401-14, May.
[Downloadable!] (restricted)
Lucas, Robert Jr., 1988.
"On the mechanics of economic development ,"
Journal of Monetary Economics ,
Elsevier, vol. 22(1), pages 3-42, July.
[Downloadable!] (restricted)
Other versions:
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Ahmed, Sadiq, 1994.
"Explaining Pakistan's high growth performance over the past two decades : can it be sustained ? ,"
Policy Research Working Paper Series
1341, The World Bank.
[Downloadable!]
Fan, Shenggen & Chan-Kang, Connie, 2004.
"Road development, economic growth, and poverty reduction in China ,"
DSGD discussion papers
12, International Food Policy Research Institute (IFPRI).
[Downloadable!]
Other versions: Pedro Cavalcanti Gomes Ferreira & Leandro Gonçalves do Nascimento, 2005.
"Welfare and Growth Effects of Alternative Fiscal Rules for Infrastructure Investment in Brazil ,"
Economics Working Papers (Ensaios Economicos da EPGE)
604, Graduate School of Economics, Getulio Vargas Foundation (Brazil).
[Downloadable!]
Nauro F. Campos & Fabrizio Coricelli, 2002.
"Growth in Transition: What We Know, What We Don't, and What We Should ,"
William Davidson Institute Working Papers Series
470, William Davidson Institute at the University of Michigan Stephen M. Ross Business School.
[Downloadable!]
Other versions:
Campos, Nauro F & Coricelli, Fabrizio, 2002.
"Growth in Transition: What we Know, What we Don't and What we Should ,"
CEPR Discussion Papers
3246, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Nauro F. Campos & Fabrizio Coricelli, 2002.
"Growth in Transition: What We Know, What We Don't, and What We Should ,"
Journal of Economic Literature ,
American Economic Association, vol. 40(3), pages 793-836, September.
Randolph, Susan & Bogetic, Zeljko & Hefley, Dennis, 1996.
"Determinants of public expenditure on infrastructure : transportation and communication ,"
Policy Research Working Paper Series
1661, The World Bank.
[Downloadable!]
Swaroop, Vinaya & DEC, 1994.
"The public finance of infrastructure : issues and options ,"
Policy Research Working Paper Series
1288, The World Bank.
[Downloadable!]
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