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Does Public Investment Enhance Productivity Growth in Mexico? A Cointegration Analysis

Author

Listed:
  • Miguel D. Ramirez

    (Trinity College)

Abstract

The paper begins with an overview of the role of the Mexican state in the investment process during the period 1950-93. A set of testable hypotheses is then generated from a model that incorporates, inter alia, the public capital stock as an argument in a modified neoclassical production function, and an empirical counterpart of the conceptual model is tested relating the relevant variables to the rate of GDP growth (including labor productivity growth). The results suggest that the growth in public and private investment spending has had a positive effect on the rate of productivity growth in Mexico.

Suggested Citation

  • Miguel D. Ramirez, 1998. "Does Public Investment Enhance Productivity Growth in Mexico? A Cointegration Analysis," Eastern Economic Journal, Eastern Economic Association, vol. 24(1), pages 63-82, Winter.
  • Handle: RePEc:eej:eeconj:v:24:y:1998:i:1:p:63-82
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    File URL: http://web.holycross.edu/RePEc/eej/Archive/eeconj/Volume24/V24N1P63_82.pdf
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    Citations

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    Cited by:

    1. Marianna Belloc & Pietro Vertova, 2004. "How Does Public Investment Affect Economic Growth in HIPC? An Empirical Assessment," Department of Economics University of Siena 416, Department of Economics, University of Siena.
    2. 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.
    3. Ianchovichina, Elena & Estache, Antonio & Foucart, Renaud & Garsous, Grégoire & Yepes, Tito, 2013. "Job Creation through Infrastructure Investment in the Middle East and North Africa," World Development, Elsevier, vol. 45(C), pages 209-222.
    4. ISMIHAN Mustafa & METIN-OZCAN Kivilcim & TANSEL Aysit, "undated". "Macroeconomic Instability, Capital Accumulation and Growth: The Case of Turkey 1963-1999," EcoMod2003 330700071, EcoMod.
    5. MD. Ramirez, 2000. "Public capital formation and labor productivity growth in Chile," Contemporary Economic Policy, Western Economic Association International, vol. 18(2), pages 159-169, April.
    6. Pedro R. D. Bom & Jenny Ligthart, 2008. "How Productive is Public Capital? A Meta-Analysis," CESifo Working Paper Series 2206, CESifo Group Munich.
    7. Ali, Amjad & Ur Rehman, Hafeez, 2015. "Macroeconomic Instability and Its Impact on Gross Domestic Product: An Empirical Analysis of Pakistan," MPRA Paper 71037, University Library of Munich, Germany.
    8. Duc-Anh Le & Phu Nguyen-Van & Thi Kim Cuong Pham, 2016. "Public expenditure, growth and productivity of Vietnam’s provinces," Working Papers of BETA 2016-17, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    9. repec:eee:retrec:v:63:y:2017:i:c:p:13-26 is not listed on IDEAS

    More about this item

    Keywords

    GDP; Growth; Public Capital; Public Investment;

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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