Capital publico y crecimiento econômico en Espana 1980-2004
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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.