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Public infrastructure, private capital and the performance of manufactures: short and long run effects

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Rosina Moreno ()

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Abstract

Despite the general idea among economists that public capital is a necessary but not sufficient condition for regional economic development, there is not consensus on the quantification of its effect. It is our belief that the variety of results on infrastructure impact in the economic literature is due to the fact that it depends on a series of factors. Among them we can think of a different sectoral effect, the level of economic development in the area, so as the amount of the existing public capital stocks and their interaction with infrastructures in other regions. In this paper we focus on this latter condition, having into account that the evidence on public capital spillovers obtained in other studies is not homogeneous. This way, whereas in Holtz-Eakin and Schwartz (1995) the stock of highways in a state does not suppose benefits in productivity further its borders, Mas et al. (1997) obtain that the infrastructural endowment in the neighbours can be important. Using different functional forms, the first purpose of this paper is to shed light into the existence of public capital spillovers considering not only the physical interaction among regions but also other forms of relationship such as trade linkages. In a second step, we follow a discusion on the existence of other economic externalities that in case of not being considered could be the reason why we obtain biased estimations for regional returns to scale. Both purposes are treated through the use of spatial econometrics techniques in the Spanish regional case. Keywords: Public capital, Infrastructure Spillovers, External Effects, Spatial Econometrics

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Paper provided by European Regional Science Association in its series ERSA conference papers with number ersa98p165.

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Date of creation: Aug 1998
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Handle: RePEc:wiw:wiwrsa:ersa98p165

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  1. Ciccone, Antonio & Hall, Robert E, 1996. "Productivity and the Density of Economic Activity," American Economic Review, American Economic Association, vol. 86(1), pages 54-70, March. [Downloadable!] (restricted)
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  2. Schankerman, Mark & Nadiri, M. Ishaq, 1986. "A test of static equilibrium models and rates of return to quasi-fixed factors, with an application to the Bell system," Journal of Econometrics, Elsevier, vol. 33(1-2), pages 97-118. [Downloadable!] (restricted)
  3. Seitz, Helmut, 1995. "The Productivity and Supply of Urban Infrastructures," The Annals of Regional Science, Springer, vol. 29(2), pages 121-41, May.
  4. de la Fuente, Angel, 1996. "On the Sources of Convergence: A Close Look at the Spanish Regions," CEPR Discussion Papers 1543, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  5. Holtz-Eakin, Douglas, 1994. "Public-Sector Capital and the Productivity Puzzle," The Review of Economics and Statistics, MIT Press, vol. 76(1), pages 12-21, February. [Downloadable!] (restricted)
  6. Matilde Mas & Joaquín Maudos & Francisco Pérez & Ezequiel Uriel, 1996. "Infrastructures and Productivity in the Spanish Regions," Regional Studies, Taylor and Francis Journals, vol. 30(7), pages 641-649, November. [Downloadable!] (restricted)
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  7. Martin, Philippe & Rogers, Carol Ann, 1995. "Industrial location and public infrastructure," Journal of International Economics, Elsevier, vol. 39(3-4), pages 335-351, November. [Downloadable!] (restricted)
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  8. Garcia-Mila, Teresa & McGuire, Therese J & Porter, Robert H, 1996. "The Effect of Public Capital in State-Level Production Functions Reconsidered," The Review of Economics and Statistics, MIT Press, vol. 78(1), pages 177-80, February. [Downloadable!] (restricted)
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  9. Rosina Moreno Serrano & Manuel Artis Ortuno & Enrique Lopez Bazo & Jordi Surinach Caralt, 1997. "Evidence on the complex link between infrastructure and regional growth," Working Papers in Economics 19, Universitat de Barcelona. Espai de Recerca en Economia. [Downloadable!]
  10. Jeffrey I. Bernstein & Xiaoyi Yan, 1997. "International R&D Spillovers between Canadian and Japanese Industries," NBER Working Papers 5401, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  11. Ernst R. Berndt & Bengt Hansson, 1991. "Measuring the Contribution of Public Infrastructure Capital in Sweden," NBER Working Papers 3842, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  12. Morrison, Catherine J & Schwartz, Amy Ellen, 1996. "State Infrastructure and Productive Performance," American Economic Review, American Economic Association, vol. 86(5), pages 1095-1111, December. [Downloadable!] (restricted)
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  13. Holtz-Eakin, Douglas & Lovely, Mary E., 1996. "Scale economies, returns to variety, and the productivity of public infrastructure," Regional Science and Urban Economics, Elsevier, vol. 26(2), pages 105-123, April. [Downloadable!] (restricted)
  14. Button, Kenneth J, et al, 1995. "Transport and Industrial and Commercial Location," The Annals of Regional Science, Springer, vol. 29(2), pages 189-206, May.
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  16. Rafael Domenech Vilariño, 1993. "Funciones de costes para la banca española: un análisis con datos de panel," Investigaciones Economicas, Fundación SEPI, vol. 17(2), pages 263-284, May. [Downloadable!]
  17. Nadiri, M Ishaq & Mamuneas, Theofanis P, 1994. "The Effects of Public Infrastructure and R&D Capital on the Cost Structure and Performance of U.S. Manufacturing Industries," The Review of Economics and Statistics, MIT Press, vol. 76(1), pages 22-37, February. [Downloadable!] (restricted)
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  18. Ai, Chunrong & Cassou, Steven P., 1997. "On public capital analysis with state data," Economics Letters, Elsevier, vol. 57(2), pages 209-212, December. [Downloadable!] (restricted)
  19. Gramlich, Edward M, 1994. "Infrastructure Investment: A Review Essay," Journal of Economic Literature, American Economic Association, vol. 32(3), pages 1176-96, September. [Downloadable!] (restricted)
  20. M. Ishaq Nadiri & Seongjun Kim, 1996. "International R&D Spillovers, Trade and Productivity in Major OECD Countries," NBER Working Papers 5801, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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