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Network effects of public transport infrastructure: evidence on Italian regions

Author

Listed:
  • Valter Di Giacinto

    () (Bank of Italy)

  • Giacinto Micucci

    () (Bank of Italy)

  • Pasqualino Montanaro

    () (Bank of Italy JEL classification: C32, E61, H54, R42, R53)

Abstract

This paper contributes to the empirical literature on the magnitude of the network effects of public infrastructures, introducing a novel approach. After estimating the dynamics common to time series for the regional public capital stock, coordinated policy shocks are identified within a properly specified structural VEC model. The findings confirm previous evidence that transport infrastructures exert positive macroeconomic effects in the long run. At the same time, it is shown that this effect is attributable mostly to the impact of coordinated public policy shocks, as the literature on network externalities predicts.

Suggested Citation

  • Valter Di Giacinto & Giacinto Micucci & Pasqualino Montanaro, 2012. "Network effects of public transport infrastructure: evidence on Italian regions," Temi di discussione (Economic working papers) 869, Bank of Italy, Economic Research and International Relations Area.
  • Handle: RePEc:bdi:wptemi:td_869_12
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    Cited by:

    1. Vetlov, Igor & Ferdinandusse, Marien & de Jong, Jasper & Funda, Josip, 2017. "The effect of public investment in Europe: a model-based assessment," Working Paper Series 2021, European Central Bank.
    2. Mitze, Timo & Stephan, Andreas, 2013. "Simultaneous-equations Analysis in Regional Science and Economic Geography," Working Paper Series in Economics and Institutions of Innovation 309, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    3. Bengoa, Marta & Román, Valeriano Martínez-San & Pérez, Patricio, 2017. "Do R&D activities matter for productivity? A regional spatial approach assessing the role of human and social capital," Economic Modelling, Elsevier, vol. 60(C), pages 448-461.
    4. repec:elg:eechap:14395_7 is not listed on IDEAS
    5. Carmen Echebarria & Jose M. Barrutia & Itziar Aguado & Vanessa Apaolaza & Patrick Hartmann, 2016. "Capturing the benefits that emerge from regional sustainability networks: The Castile–La Mancha network of sustainable cities and towns," Papers in Regional Science, Wiley Blackwell, vol. 95, pages 27-49, March.
    6. Jasper de Jong & Marien Ferdinandusse & Josip Funda, 2017. "Public capital in the 21st century: As productive as ever?," DNB Working Papers 542, Netherlands Central Bank, Research Department.
    7. Miguel A. Márquez & Julián Ramajo & Geoffrey JD. Hewings, 2015. "Regional growth and spatial spillovers: Evidence from an SpVAR for the Spanish regions," Papers in Regional Science, Wiley Blackwell, vol. 94, pages 1-18, November.

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    Keywords

    public capital; transport infrastructure; public policy coordination; network externalities; VEC model.;

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