Optimal endowments of public capital: An empirical analysis for the Spanish regions
Bajo-Rubio O. and Diaz-Roldan C. (2005) Optimal endowments of public capital: an empirical analysis for the Spanish regions, Regional Studies 39 , 297-304. Regional infrastructure policies, through increased public investment, are widely used to promote the development of poorer regions in European countries. This paper tries to find some evidence on the optimality in the provision of government capital for the case of the Spanish regions, 1965-95. To this end, a simple optimality condition is derived from an optimization growth model, namely, that marginal products of private and public capital should be equal. In this way, assuming that private capital was optimally provided, the results suggest that government capital would be under-provided in the more productive regions, unlike the less productive regions, where the opposite result would hold.
Volume (Year): 39 (2005)
Issue (Month): 3 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/CRES20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/CRES20|
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.:
- Aschauer, David Alan, 1989.
"Is public expenditure productive?,"
Journal of Monetary Economics,
Elsevier, vol. 23(2), pages 177-200, March.
- David Aschauer, 1988. "Is public expenditure productive?," Staff Memoranda 88-7, Federal Reserve Bank of Chicago.
- de la Fuente, Angel, 2002. "On the sources of convergence: A close look at the Spanish regions," European Economic Review, Elsevier, vol. 46(3), pages 569-599, March.
- Angel de la Fuente & Vicente Salas Fum·s, "undated". "On the sources of convergence: A close look at the Spanish regions," Studies on the Spanish Economy 01, FEDEA.
- de la Fuente, A, 1996. "On the Sources of Convergence : A Close Look at the Spanish Regions," UFAE and IAE Working Papers 362.96, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- 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.
- Karras, Georgios, 1997. "Is Government Investment Underprovided in Europe? Evidence from a Panel of Fifteen Countries," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 50(2), pages 223-235.
- Jan-Egbert Sturm & Gerard H. Kuper & Jakob de Haan, 1996. "Modelling government investment and economic growth at the macro level: A review," Working Papers 29, Centre for Economic Research, University of Groningen and University of Twente.
- Carmela Martin & Francisco J. Velazquez., 2001. "An Assessment of Real Convergence of Less Developed EU Members: Lessons for the CEEC Candidates," European Economy Group Working Papers 5, European Economy Group.
- Kao, Chihwa, 1999. "Spurious regression and residual-based tests for cointegration in panel data," Journal of Econometrics, Elsevier, vol. 90(1), pages 1-44, May.
- Óscar Bajo Rubio & Carmen Díaz Roldán & M.a Dolores Montávez Garcés, "undated". "Fiscal Policy And Growth Revisited: The Case Of The Spanish Regions," Working Papers 19-02 Classification-JEL , Instituto de Estudios Fiscales.
- Oscar Bajo & Carmen DÌaz Rold·n & Maria Dolores Montavez, 1999. "Fiscal Policy and Growth Revisited: The Case of The Spanish Regions," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 9904, Departamento de Economía - Universidad Pública de Navarra.
- Bajo-Rubio, Oscar & Diaz-Roldan, Carmen & Montavez-Garces, M. Dolores, 1999. "Fiscal Policy and Growth Revisited: An Application to the Case of the Spanish Regions," ERSA conference papers ersa99pa141, European Regional Science Association.
- Matilde Mas & Joaquin Maudos & Francisco Perez & Ezequiel Uriel, 1996. "Infrastructures and Productivity in the Spanish Regions," Regional Studies, Taylor & Francis Journals, vol. 30(7), pages 641-649.
- Ezequiel Uriel Jiménez & Francisco Pérez García & Matilde Mas Ivars & Joaquín Maudos Villarroya, 1995. "Infrastructures And Productivity In The Spanish Regions," Working Papers. Serie EC 1995-10, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Berndt, Ernst & Hansson, Bengt, 1992. "Measuring the Contribution of Capital in Sweden," Working Paper Series 365, Research Institute of Industrial Economics.
- Juan R. Cuadrado-Roura & BegoÃ±a GarcÃa-Greciano & JosÃ© Luis Raymond, 1999. "Regional Convergence in Productivity and Productive Structure: The Spanish Case," International Regional Science Review, , vol. 22(1), pages 35-53, April.
- 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.
- Harris, Richard D. F. & Tzavalis, Elias, 1999. "Inference for unit roots in dynamic panels where the time dimension is fixed," Journal of Econometrics, Elsevier, vol. 91(2), pages 201-226, August.
- Tom Doan, "undated". "HTUNIT: RATS procedure to implement Harris-Tzavalis unit root test for panel data," Statistical Software Components RTS00092, Boston College Department of Economics.
- de la Fuente, Angel, 2002. "Is the Allocation of Public Capital Across the Spanish Regions too Redistributive?," CEPR Discussion Papers 3138, C.E.P.R. Discussion Papers.
- Banerjee, Anindya, 1999. " Panel Data Unit Roots and Cointegration: An Overview," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(0), pages 607-629, Special I. Full references (including those not matched with items on IDEAS)