Are Public Investment Efficient in Creating Capital Stocks in Developing Countries?



Figure 2. Non-Parametric Estimated Efficiency Functions of Sectorial
Public Investments. Colombia, 1980-1994 (US$ million, current prices)

Roads

Figure 3. Non-Parametric Estimated Efficiency Function of Total
Public Investments. Colombia, 1980-1994 (US$ million, current prices)

Notes: For each estimated point, the corresponding 95% confidence limits are represented by a sign ” + ”



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