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Is there a lack of public capital in the European Union?

  • Kamps, Christophe

    ()

    (Kiel Institute for World Economics)

This paper investigates whether there is a lack of public capital in European Union countries. The analysis builds on a new database providing internationally comparable capital stock estimates for 22 OECD countries, among these 14 EU countries, for the period 1960-2001. A simple model of endogenous growth is used in order to highlight the inherently nonlinear relationship between public capital and economic growth and to derive a measure of the growth-maximising public capital stock. Against this background, the empirical analysis provides estimates of the growth-maximising level of public capital for EU countries. The empirical results suggest that there currently is no lack of public capital in most "old" EU countries.

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File URL: http://www.eib.org/attachments/efs/eibpapers/eibpapers_2005_v10_n01_en.pdf#page=74
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Paper provided by European Investment Bank, Economics Department in its series EIB Papers with number 3/2005.

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Length: 22 pages
Date of creation: 06 Jun 2005
Date of revision:
Handle: RePEc:ris:eibpap:2005_003
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