文章基本信息

标题：Effects of Public Capital on Economic Growth and Productivity in Spain during the Period 1980-2007
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作者：JUSTO DE JORGE MORENO ; CESAR CAMISON ZORZONA ; JUAN MURO ROMERO 等
期刊名称：Journal of Economic Development - Seoul
印刷版ISSN：0254-8372
出版年度：2015
卷号：40
期号：4
页码：67
出版社：Economic Research Institute
摘要：In line with the existing literature, the main aim of this study is to analyse the effects of public capital on growth in the Spanish regions for the period 1980 - 2007. The methodology used adopts a parametric approach following the recommendations intended to eliminate the effects of demand and estimate only the medium - term impacts, ultimately eliminating any possible inverse causality relationship. The estima tes made put the elasticity of the productivity of labour with respect to the delays in investment in infrastructures at 0.183, while elasticity with respect to private investment stands at 0.294. This means it can be concluded that investment in public ca pital contributes to increasing productivity by approximately 62 per cent in the Spanish regions as a whole. Meanwhile, the analysis of the convergence of the estimated efficiency levels shows that the least efficient regions have benefited from the techno logy existing in the regions closest to the efficiency frontier. Finally, some reflections are compiled on the role investment in public capital can play in the context of a crisis like the current one, together with other pillars incorporated into the deb ate, such as fiscal consolidation and structural reforms.
关键词：Public Capital; Efficiency; Convergence; Spanish Regions; Economic Growth