Optimal Endowments Of Public Investment: An Empirical Analysis For The Spanish Regions
. In this paper we try to find some evidence on the optimality in the provision of government capital in the Spanish regions, during the period 1965-1995. To this end, an optimality condition is derived from an optimization growth model, generalising the condition previously derived by Karras (1997) to the case of any kind of returns to scale over all inputs in the production function. Then, a simple production function is estimated, from which the marginal products of both private and government capital are computed. By comparing the estimates of those marginal products, we are able to infer whether the public capital stock in the Spanish regions is underprovided or not, relative to the private capital stock.
|Date of creation:|
|Date of revision:|
|Contact details of provider:|| Postal: Avda. Cardenal Herrera Oria, 378, 28035 Madrid|
Web page: http://www.ief.es
More information through EDIRC
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.:
- 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.
- Óscar Bajo Rubio & Carmen Díaz Roldán & M.a Dolores Montávez Garcés, . "Fiscal Policy And Growth Revisited: The Case Of The Spanish Regions," Working Papers 19-02 Classification-JEL , Instituto de Estudios Fiscales.
- 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.
- 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.
- 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.
- 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, . "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, 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, 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 Fumás, . "On the sources of convergence: A close look at the Spanish regions," Studies on the Spanish Economy 01, FEDEA.
- 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.
- 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.
- Matilde Mas & Joaquin Maudos & Francisco Perez & Ezequiel Uriel, 1996.
"Infrastructures and Productivity in the Spanish Regions,"
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).
- Karras, Georgios, 1997. "Is Government Investment Underprovided in Europe? Evidence from a Panel of Fifteen Countries," Economia Internazionale / International Economics, Camera di Commercio di Genova, vol. 50(2), pages 223-235.
- 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.
- Berndt, Ernst & Hansson, Bengt, 1992. "Measuring the Contribution of Capital in Sweden," Working Paper Series 365, Research Institute of Industrial Economics.
- 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.
- 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 607-29, Special I.
- Aschauer, David Alan, 1989.
"Is public expenditure productive?,"
Journal of Monetary Economics,
Elsevier, vol. 23(2), pages 177-200, March.
- Berndt, Ernst R & Hansson, Bengt, 1992. " Measuring the Contribution of Public Infrastructure Capital in Sweden," Scandinavian Journal of Economics, Wiley Blackwell, vol. 94(0), pages S151-68, Supplemen.
When requesting a correction, please mention this item's handle: RePEc:hpe:wpaper:y:2002:i:20. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ana Belén Miquel Burgos)
If references are entirely missing, you can add them using this form.