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Roads to Prosperity or Bridges to Nowhere? Theory and Evidence on the Impact of Public Infrastructure Investment
Leduc, Sylvain; Wilson, Daniel - National Bureau of Economic Research (NBER) - 2012
We examine the dynamic macroeconomic effects of public infrastructure investment both theoretically and empirically, using a novel data set we compiled on various highway spending measures. Relying on the institutional design of federal grant distributions among states, we construct a measure of...
Persistent link: https://www.econbiz.de/10011271401
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Spatial panel data estimation, counterfactual predictions, and local economic resilience among British towns in the Victorian era
Fingleton, Bernard; Palombi, Silvia - In: Regional Science and Urban Economics 43 (2013) 4, pp. 649-660
We explore the relative ability of local economies to retain their long-run growth dynamics when faced by the destabilizing effects of major shocks. Taking annual wage series for nineteen U.K. towns over the historical period 1871–1906, we fit a spatial panel data model to 1871–1890 data and...
Persistent link: https://www.econbiz.de/10010666084
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Spatial econometric STAR models: Lagrange multiplier tests, Monte Carlo simulations and an empirical application
Pede, Valerien O.; Florax, Raymond J.G.M.; Lambert, … - In: Regional Science and Urban Economics 49 (2014) C, pp. 118-128
This paper investigates nonlinearity in parametric spatial process models that incorporate regime-switching by means of a smooth transition autoregressive process. We derive a Lagrange Multiplier (LM) test for nonlinearity as well as several joint LM tests for nonlinearity and the traditional...
Persistent link: https://www.econbiz.de/10011117432
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Reserve financing and government infrastructure investment: An application to China
Germaschewski, Yin - In: Journal of Policy Modeling 35 (2013) 6, pp. 992-1013
This paper proposes a novel financing scheme, reserve financing, for government infrastructure investment in China. A two-sector open economy model explores the consequences and policy implications of a surge in infrastructure investment financed by international reserves. The results show that...
Persistent link: https://www.econbiz.de/10010709429
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Incentives and Outcomes: China's Environmental Policy
Deng, Yongheng; Morck, Randall; Wu, Jing; Huang, Jun; … - National Bureau of Economic Research (NBER) - 2013
In generating fast economic growth, China is also generating growing concern about its environmental record. Using 2000-2009 data, we find that, while spending on environmental infrastructure has visible positive environmental impact, city spending is strongly tilted towards transportation...
Persistent link: https://www.econbiz.de/10010950924
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Regional industrial growth in Mexico: Do human capital and infrastructure matter?
Brock, Gregory; German-Soto, Vicente - In: Journal of Policy Modeling 35 (2013) 2, pp. 228-242
A production function analysis of the 32 Mexican regions reveals almost no technological progress and human capital impact in Mexican industry over a 44 year period. While extensive growth is found prior to 1985, little evidence for extensive or intensive growth except for the labor input is...
Persistent link: https://www.econbiz.de/10010703087
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The productivity of transport infrastructure investment: A meta-analysis of empirical evidence
Melo, Patricia C.; Graham, Daniel J.; Brage-Ardao, Ruben - In: Regional Science and Urban Economics 43 (2013) 5, pp. 695-706
Investments in transport infrastructure have been widely used by decision makers to encourage economic growth, particularly during periods of economic downturn. There has been extensive research on the linkage between transport infrastructure and economic performance since the late 1980s,...
Persistent link: https://www.econbiz.de/10010703147
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EU regional convergence and policy: Does the concept of region matter?
Maza, Adolfo; Villaverde, José - In: Journal of Policy Modeling 33 (2011) 6, pp. 889-900
Regional convergence has become a heated topic in the last decades. To address it, most papers define regions on the … – examining the external shape and movements within these distributions – is applied to analyse the issue of convergence. The … study does reveal the presence of a process of convergence across both types of regions; however, this seems to be more …
Persistent link: https://www.econbiz.de/10010577352
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Government Investment and Fiscal Stimulus in the Short and Long Runs
Leeper, Eric; Walker, Todd B.; Yang, Shu-Chun Susan - National Bureau of Economic Research (NBER) - 2009
This paper contributes to the debate about fiscal multipliers by studying the impacts of government investment in conventional neoclassical growth models. The analysis focuses on two dimensions of fiscal policy that are critical for understanding the effects of government investment:...
Persistent link: https://www.econbiz.de/10005040613
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Infrastructure in a Structural Model of Economic Growth
Holtz-Eakin, Douglas; Schwartz, Amy Ellen - National Bureau of Economic Research (NBER) - 1994
Researchers, commentators, and politicians have devoted steadily more attention to infrastructure in response to claims that inadequate accumulation of public capital has contributed to substandard U.S. economic growth. Despite this, the link between infrastructure and productivity growth...
Persistent link: https://www.econbiz.de/10005720230