Public investment constitutes one of the main axes of the regional policies. The existence of a direct link between infrastructure and regional income per capita is generally accepted. Also literature describes a positive effect of public investor effort on private capital accumulation. This...

This paper extends the neoclassical growth model with productive public capital by including an infrastructure efficiency index, which is assumed to depend on a public choice variable, in particular, the share of public spending allocated to productive public consumption. A golden rule for the...

Regional infrastructures policies, through an increased public investment, are widely used to promote the development of poorer regions in the European countries. In this paper we try to find some evidence on the optimality in the provision of government capital for the case of the Spanish...

Literature describes a positive effect of public investment on private capital accumulation. This paper seeks to provide new empirical evidence on this latter relationship for the case of Spanish regions over period 1965-1997. We use a crowding-out theoretical framework and panel data...

Recent cross-country studies suggest that finance and economic growth are significantly related. The characteristics and geographical scope of this relationship has become central to explain differences in economic development. Two concepts are highly relevant in this context. Firstly, financial...

This paper aims at testing the degree of interaction between Portuguese municipalities’ expenditure levels by estimating a dynamic panel model, based on jurisdictional reaction functions. The analysis is performed for all 278 Portuguese mainland municipalities from 1986 to 2006, using...

In this paper, we propose a new methodology for the assessment of EU’s regional policies, making use of the HERMIN macroeconometric model. A major feature of our approach is that allows us to compare the actual evolution of the economy under analysis, with and without European funds, so that...

Due to legislation changes during the Nineties, the Spanish Port System has gone through a series of changes that, simultaneous with a period of economic expansion and generalized marine traffic growth, have affected the Port System's composition and organization. The gradual transformations...