文章基本信息

标题：International Aspects of Public Infrastructure Investment
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作者：Spiros Bougheas ; Panicos O. Demetriades ; Edgar L. W. Morgenroth 等
期刊名称：Discussion Papers / University of Leicester, Department of Economics
出版年度：2001
卷号：2001
出版社：Leicester
摘要：Modelling infrastructure as an international public good in a two-country model of trade where each country’s social planner behaves strategically, we show that the equilibrium levels of infrastructure are sub-optimal from a global perspective. Utilising an appropriate econometric framework and data from 16 European countries over the period 1987-95, we find evidence that accords well with the main predictions of our theory. Thus, we are able to offer a plausible theoretical explanation why public capital may be undersupplied, as suggested by previous empirical literature.