The name is absent

Capital publico y crecimiento econômico en Espana 1980-2004

Otto, G. y Voss, G. (1996), “Public capital and private sector productivity”, The Economic Record, 70:
121-132.

Pestieau, P. (1974), “Optimal taxation and discount rate for public investment in a growth setting”,
Journal of Public Economics, 3: 217-235.

Ratner, J. (1983), “Government capital and the production function for U.S. private output”, Econo-
mics Letters, 13: 213-217.

Romp, W. y de Haan, J. (2007), “Public capital and economic growth: A critical survey”, Perspektien
der Wirtschaftspolitik, 8 (Special Issue): 6-52.

Sturm, J. E.; Kuper, G. H. y de Haan, J. (1997), “Modelling government investment and economic
growth on a macro level: a review”, en Brakman, S. and van Ees, H. (Eds.) Market Behaviour and
Macroeconomic Modelling, MacMillan, London.

Tatom, J. (1991), “Public capital and private sector performance”, Federal Reserve Bank of St. Louis
Review, 73: 3-15.

Voss, G. (2002), “Public and private investment in the United States and Canada”, Economic Mode-
lling, 19: 641-664.

Weitzman, M. (1970), “Optimal growth with scale economies in the creation of overhead capital”, Re-
view of Economic Studies, 37: 556-570.

Abstract

This paper analyses the contribution of public capital stock to output and productivity growth in Spain.
We use a simple growth general equilibrium model in which public capital stock is included as an ad-
ditional input to private factors. Calibration of the model to the Spanish economy for the period 1980-
2004 shows that the output elasticity of public capital is 0.068. For the period 1980-2004 we find that
the average contribution of public capital to output growth was of 0.35 percentage points, of an output
growth of 2.8% per year. This implies that about 13% of all output growth was due to public capital.

Key words: Public capital, growth decomposition, productivity, general equilibrium.

JEL classification: E22, O30, O40.

<<   20   21   22   23  

More intriguing information