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Public Capital and Long-Run Costs in U.K. Manufacturing

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  • Lynde, Catherine
  • Richmond, J

Abstract

A model of U.K. manufacturing production that incorporates the inputs of public as well as private capital is specified and estimated. The model is then used to measure the contribution of public capital to productivity growth over the period 1966 to 1990. It is found that, before 1980, the public and private capital contributions were of comparable magnitude. After 1980, the contribution of public capital declined significantly. Copyright 1993 by Royal Economic Society.

Suggested Citation

  • Lynde, Catherine & Richmond, J, 1993. "Public Capital and Long-Run Costs in U.K. Manufacturing," Economic Journal, Royal Economic Society, vol. 103(419), pages 880-893, July.
  • Handle: RePEc:ecj:econjl:v:103:y:1993:i:419:p:880-93
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    Cited by:

    1. Ghosh, Sugata & Wendner, Ronald, 2014. "Positional Preferences, Endogenous Growth, and Optimal Income- and Consumption Taxation," MPRA Paper 60337, University Library of Munich, Germany.
    2. Tamai, Toshiki, 2016. "Public investment, the rate of return, and optimal fiscal policy in a stochastically growing economy," Journal of Macroeconomics, Elsevier, vol. 49(C), pages 1-17.
    3. Marina Azzimonti-Renzo & Pierre-Daniel G. Sarte & Jorge Soares, 2003. "Optimal public investment with and without government commitment," Working Paper 03-10, Federal Reserve Bank of Richmond.
    4. Stephen J. Turnovsky & Santanu Chatterjee, 2004. "Tied Versus Untied Foreign Aid: Consequences for a Growing Economy," Computing in Economics and Finance 2004 8, Society for Computational Economics.
    5. Palakiyèm Kpemoua, 2016. "Analyse de l'impact des infrastructures de transport sur la croissance économique du Togo," Working Papers hal-01389698, HAL.
    6. Alfredo Marvão Pereira & Rui Manuel Pereira, 2017. "Infrastructure Investment, Labor Productivity, and International Competitiveness: The Case of Portugal," GEE Papers 0071, Gabinete de Estratégia e Estudos, Ministério da Economia, revised Jun 2017.
    7. Spiros Bougheas & Panicos Demetriades & Edgar Morgenroth, 2003. "International aspects of public infrastructure investment," Canadian Journal of Economics, Canadian Economics Association, vol. 36(4), pages 884-910, November.
    8. Anna Bottasso & Maurizio Conti, 2010. "The productive effect of transport infrastructures: does road transport liberalization matter?," Journal of Regulatory Economics, Springer, vol. 38(1), pages 27-48, August.
    9. Jan-Egbert Sturm & Gerard H. Kuper,, 1996. "The dual approach to the public capital hypothesis: the case of The Netherlands," Working Papers 26, Centre for Economic Research, University of Groningen and University of Twente.
    10. 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.
    11. Lecca, Patrizio & McGregor, Peter G. & Swales, J. Kim, 2010. "Balanced Budget Government Spending in a Small Open Regional Economy," SIRE Discussion Papers 2010-68, Scottish Institute for Research in Economics (SIRE).
    12. Antonis Rovolis & Nigel Spence, 1998. "Duality theory and cost function analysis in a regional context: the impact of public infrastructure capital in the Greek Regions," ERSA conference papers ersa98p465, European Regional Science Association.
    13. Jiang, Xiushan & He, Xiang & Zhang, Lei & Qin, Huanhuan & Shao, Fengru, 2017. "Multimodal transportation infrastructure investment and regional economic development: A structural equation modeling empirical analysis in China from 1986 to 2011," Transport Policy, Elsevier, vol. 54(C), pages 43-52.
    14. Moisa Altar & Judita Samuel, 2008. "Fiscal Policy, Public Capital and Economic Growth," Advances in Economic and Financial Research - DOFIN Working Paper Series 5, Bucharest University of Economics, Center for Advanced Research in Finance and Banking - CARFIB.
    15. Alfredo Marvão Pereira & Rui Manuel Pereira, 2017. "Infrastructure Investment in Portugal and the Traded/Non-Traded Industry Mix," GEE Papers 0078, Gabinete de Estratégia e Estudos, Ministério da Economia, revised Sep 2017.
    16. van Tuijl, M.A. & de Groof, R.J. & Kolnaar, A.H.J.J., 1997. "Fiscal policy and public capital in interdependent economies," Other publications TiSEM 73665e5e-5bf5-4d07-b647-b, Tilburg University, School of Economics and Management.
    17. João Sousa Andrade & António Portugal Duarte, 2016. "Crowding-in and crowding-out effects of public investments in the Portuguese economy," International Review of Applied Economics, Taylor & Francis Journals, vol. 30(4), pages 488-506, July.
    18. Philip Arestis & Panicos Demetriades & Bassam Fattouh, 2003. "Financial Policies and the Aggregate Productivity of the Capital Stock: Evidence from Developed and Developing Economies," Eastern Economic Journal, Eastern Economic Association, vol. 29(2), pages 217-242, Spring.
    19. Bruno Jullien & Frederic Rychen & Antoine Soubeyran, 2000. "Local Public Investment and Competition for a Firm," Econometric Society World Congress 2000 Contributed Papers 1400, Econometric Society.
    20. Mehmet Aldonat Beyzatlar & Müge Karacal & Ý. Hakan Yetkiner, 2012. "The Granger-Causality between Transportation and GDP: A Panel Data Approach," Working Papers 1203, Izmir University of Economics.
    21. World Bank, 2001. "Brazil - Public Expenditures for Poverty Alleviation in Northeast Brazil : Promoting Growth and Improving Services," World Bank Other Operational Studies 15510, The World Bank.
    22. FitzGerald, John & Kearney, Ide & Morgenroth, Edgar & Smyth, Diarmaid, 1999. "National Investment Priorities For The Period 2000-2006," Research Series, Economic and Social Research Institute (ESRI), number PRS33.
    23. Moisa Altar & Judita Samuel, 2008. "The Influence of Fiscal Policy on Economic Growth," Advances in Economic and Financial Research - DOFIN Working Paper Series 7, Bucharest University of Economics, Center for Advanced Research in Finance and Banking - CARFIB.
    24. Riadh Harizi, 2007. "Transport, croissance et démographie. Une analyse cliométrique," Working Papers 07-09, Association Française de Cliométrie (AFC).
    25. Dorothée Boccanfuso & Marcelin Joanis & Mathieu Paquet & Luc Savard, 2015. "Impact de productivité des infrastructures: Une application au Québec," Cahiers de recherche 15-06, Departement d'Economique de l'École de gestion à l'Université de Sherbrooke.

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