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Infrastructure and regional economic performance: comment

Author

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  • Robert Eisner

Abstract

Widely disparate results have flowed from various attempts to analyze the impact of public investment in tangible infrastructure on measures of economic activity. The author takes the substantial body of data put together by Munnell and Cook for 48 states over the years 1970 to 1986 and uses the data in pooled time series regressions, in pooled cross sections, and finally in distributed-lag investment functions. ; The author’s results support Munnell’s finding that states that have more capital have greater output, even after taking into account both their amounts of labor (nonagricultural employment) and private capital. The author notes that serious questions remain, however, as to which is the cause and which is the effect.

Suggested Citation

  • Robert Eisner, 1991. "Infrastructure and regional economic performance: comment," New England Economic Review, Federal Reserve Bank of Boston, issue Sep, pages 47-58.
  • Handle: RePEc:fip:fedbne:y:1991:i:sep:p:47-58
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    File URL: http://www.bostonfed.org/economic/neer/neer1991/neer591d.pdf
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    References listed on IDEAS

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    1. William D. Nordhaus & James Tobin, 1973. "Is Growth Obsolete?," NBER Chapters,in: The Measurement of Economic and Social Performance, pages 509-564 National Bureau of Economic Research, Inc.
      • William D. Nordhaus & James Tobin, 1972. "Is Growth Obsolete?," NBER Chapters,in: Economic Research: Retrospect and Prospect, Volume 5, Economic Growth, pages 1-80 National Bureau of Economic Research, Inc.
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