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Public and private provision of infrastructure and economic development

This paper examines the role of infrastructure in long run economic growth. The paper consists of two sections, the first concentrates on the theoretical role of government spending in models of growth and the second details examples of private participation in infrastructure development. Using a simple endogenous growth model we find that while the hypothesized benefits of infrastructure expenditures may be large they require care in matching appropriate financing. As the development and maintenance of infrastructure will continue to be pivotal to the long term success of growing economies, we emphasize the lessons on financing and the caveats of private participation to those who are exploring innovative mechanisms for infrastructure design.

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File URL: http://www.econ.puc-rio.br/pdf/td375.pdf
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Paper provided by Department of Economics PUC-Rio (Brazil) in its series Textos para discussão with number 375.

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Length: 17 pages
Date of creation: Oct 1997
Date of revision:
Handle: RePEc:rio:texdis:375
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  4. Barro, Robert J., 1990. "Government Spending in a Simple Model of Endogeneous Growth," Scholarly Articles 3451296, Harvard University Department of Economics.
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  9. Quah, Danny, 1993. "Galton's Fallacy and Tests of the Convergence Hypothesis," CEPR Discussion Papers 820, C.E.P.R. Discussion Papers.
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  12. Grossman, G.M. & Helpman, E., 1989. "Quality Ladders And Product Cycles," Papers 152, Princeton, Woodrow Wilson School - Public and International Affairs.
  13. Levine, Ross & Renelt, David, 1992. "A Sensitivity Analysis of Cross-Country Growth Regressions," American Economic Review, American Economic Association, vol. 82(4), pages 942-63, September.
  14. David Aschauer, 1988. "Is public expenditure productive?," Staff Memoranda 88-7, Federal Reserve Bank of Chicago.
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  19. Robert G. King & Sergio T. Rebelo, 1989. "Transitional Dynamics and Economic Growth in the Neoclassical Model," NBER Working Papers 3185, National Bureau of Economic Research, Inc.
  20. Steven N. Durlauf, 1991. "Nonergodic Economic Growth," NBER Working Papers 3719, National Bureau of Economic Research, Inc.
  21. Barro, R.J., 1989. "Economic Growth In A Cross Section Of Countries," RCER Working Papers 201, University of Rochester - Center for Economic Research (RCER).
  22. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  23. Young, Alwyn, 1993. "Invention and Bounded Learning by Doing," Journal of Political Economy, University of Chicago Press, vol. 101(3), pages 443-72, June.
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  26. Grossman, G.M. & Helpman, E., 1989. "Trade; Innovation; And Growth," Papers 154, Princeton, Woodrow Wilson School - Public and International Affairs.
  27. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 407-437.
  28. Lucas, Robert E, Jr, 1990. "Why Doesn't Capital Flow from Rich to Poor Countries?," American Economic Review, American Economic Association, vol. 80(2), pages 92-96, May.
  29. Steven N. Durlauf & Paul A. Johnson, 1992. "Local Versus Global Convergence Across National Economies," NBER Working Papers 3996, National Bureau of Economic Research, Inc.
  30. Romer, Paul M, 1987. "Growth Based on Increasing Returns Due to Specialization," American Economic Review, American Economic Association, vol. 77(2), pages 56-62, May.
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