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Rentabilidad Social De La Inversión Pública Española En Infraestructuras

  • Jaime Alonso-Carrera

    ()

    (Universidad de Vigo)

  • María Jesús Freire-Serén

    (Universidad de Vigo)

  • Baltasar Manzano

    (Universidad de Vigo)

. En este trabajo se cuantifican los efectos de la inversión pública española en infraestructuras sobre el bienestar social. Para ello se calibra con datos de la economía española un modelo de equilibrio general dinámico de agente representativo, donde la inversión pública se financia con impuestos distorsionantes. El stock de infraestructuras públicas tendrá un efecto positivo sobre la productividad agregada de los factores aunque, como aportación teórica novedosa, asumiremos que este efecto vendrá determinado por la dotación efectiva de infraestructuras. Consideraremos rendimientos decrecientes a escala a nivel privado derivados de la existencia de costes de transporte, los cuales dependen negativamente de la dotación de infraestructuras por unidad de output. La actividad inversora del sector público tendrá, por lo tanto, dos efectos contrapuestos sobre el bienestar. Por un lado, un incremento del stock de infraestructuras provoca un aumento de la producción efectiva agregada, mientras que por otra parte, hace que crezca la recaudación impositiva distorsionante, afectando a la renta disponible y a la decisión de los individuos sobre consumo, ahorro y oferta de trabajo. De esta forma, el efecto final sobre el bienestar de un incremento en la inversión pública dependerá de la política fiscal inicial y de la estrategia de financiación de ese incremento.

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Paper provided by Instituto de Estudios Fiscales in its series Working Papers with number 30-03 Classification-JEL : E62, H20, O40..

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