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Composition of government investment in Europe: Some forensic evidence

Author

Listed:
  • Gonzalez Alegre, Juan

    (European University Institute)

  • Kappeler, Andreas

    (European Investment Bank, Economic and Financial Studies)

  • Kolev, Atanas

    (European Investment Bank, Economic and Financial Studies)

  • Valila, Timo

    (European Investment Bank, Economic and Financial Studies)

Abstract

We set out to decompose government investment, seeking especially to estimate how much governments in Europe invest in infrastructure in general and transport infrastructure in particular. It is concluded that infrastructure accounts for about one-third of overall government investment in the EU on average, with the share of transport investment as high as 80 percent in government infrastructure investment. These shares have remained quite stable in the past decades, so government transport investment has not suffered from excessive swings, slides or sudden stops - at least relative to other types of government investment. Whether that has been economically optimal is an altogether different issue, to be addressed elsewhere.

Suggested Citation

  • Gonzalez Alegre, Juan & Kappeler, Andreas & Kolev, Atanas & Valila, Timo, 2008. "Composition of government investment in Europe: Some forensic evidence," EIB Papers 2/2008, European Investment Bank, Economics Department.
    • Handle: RePEc:ris:eibpap:2008_002
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    Cited by:

    1. repec:zbw:rwirep:0557 is not listed on IDEAS
    2. Kappeler, Andreas & Solé-Ollé, Albert & Stephan, Andreas & Välilä, Timo, 2013. "Does fiscal decentralization foster regional investment in productive infrastructure?," European Journal of Political Economy, Elsevier, vol. 31(C), pages 15-25.
    3. Roy Bahl & Richard M. Bird, 2014. "Decentralization and Infrastructure: Principles and Practice," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper1408, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    4. Jäger, Philipp & Schmidt, Torsten, 2016. "The political economy of public investment when population is aging: A panel cointegration analysis," European Journal of Political Economy, Elsevier, vol. 43(C), pages 145-158.
    5. Juraj Stančík & Timo Välilä, 2012. "Changes in the fiscal stance and the composition of public spending," Empirical Economics, Springer, vol. 43(1), pages 199-217, August.
    6. Inderst, Georg, 2013. "Private infrastructure finance and investment in Europe," EIB Working Papers 2013/02, European Investment Bank (EIB).
    7. Hans Pitlik & Margit Schratzenstaller, 2011. "Growth Implications of Structure and Size of Public Sectors," WIFO Working Papers 404, WIFO.
    8. Silvia Vignetti & Emanuela Sirtori, 2010. "Infrastructure investment opportunities in the New EU Member States: the role of regional policies," Working Papers 201003, CSIL Centre for Industrial Studies.
    9. Lorena Viñuela, 2014. "Trends and Quality of Decentralized Public Investment," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper1407, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    10. Philipp Jäger & Torsten Schmidt, 2015. "The Political Economy of Public Investment when Population is Aging – A Panel Cointegration Analysis," Ruhr Economic Papers 0557, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    11. Välilä, Timo, 2020. "Infrastructure and growth: A survey of macro-econometric research," Structural Change and Economic Dynamics, Elsevier, vol. 53(C), pages 39-49.
    12. Sara Maria Riscado & Juraj Stančík & Timo Välilä, 2011. "Macro‐Fiscal Volatility and the Composition of Public Spending," Fiscal Studies, Institute for Fiscal Studies, vol. 32(4), pages 511-538, December.
    13. Kappeler, Andreas & Solé-Ollé, Albert & Stephan, Andreas & Välilä, Timo, 2013. "Does fiscal decentralization foster regional investment in productive infrastructure?," European Journal of Political Economy, Elsevier, vol. 31(C), pages 15-25.

    More about this item

    Keywords

    Government investment; infrastructure investment; fiscal federalism; transport infrastructure; fiscal position;
    All these keywords.

    JEL classification:

    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • H77 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Intergovernmental Relations; Federalism

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