Public Capital and Growth

This paper estimates the impact of public capital on economic growth for forty-eight OECD and non-OECD countries during 1960 - 2001. Using the production function and its extensions, it finds a positive - but concave - elasticity of output with respect to public capital, which is robust to changes in time intervals and varying depreciation rates. Furthermore, in non-OECD countries the growth impact of public capital is higher once longer time intervals are considered.
Publication date: July 2010
ISBN: 9781455201860
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Topics covered in this book

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Economics- Macroeconomics , Economics / General , International - Economics , capital stock , private capital , investment rate , private investment , capital growth , capital formation , capital accumulation , net capital , external borrowing , rate of return , investment projects , diminishing returns , fixed capital , investment spending , capital spending

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