Investment in network infrastructure can boost long-term economic growth in OECD countries. Moreover, infrastructure … investment can have a positive effect on growth that goes beyond the effect of the capital stock because of economies of scale … between infrastructure and economic growth. Time-series results reveal a positive impact of infrastructure investment on …

The government’s choices of the corporate tax rate and public investment are interdependent. In particular, they both … international tax competition drives the statutory tax rate down from 45% to 30%, public investment is reduced by 0.4% of output at … corporate tax rate and public investment are endogenous. More precisely, a decline of 15% in the corporate tax rate reduces …

It is well recognised that the issue of the social rate of discount applies only to the gains from public investment … that accrues to the public sector. When it comes to measurement, however, there is a problem: public investment in … reflect the co-variability between the return from public investment and that of the market, we are led to measuring the risk …

- 1999. Our results suggest that increased public investment during the term in office, as well as a shift in expenditures … towards public investment can improve re-election prospects. On the contrary, election year manipulation via public investment …

Financing productive public capital through distortionary taxes typically creates a trade-off: the optimal investment … is determined as a compromise between efficiency-enhancing public investment and perturbing market efficiency, but is …

We consider VAR models for variables exhibiting cointegration and common cyclical features. While the presence of … cointegration reduces the rank of the long-run multiplier matrix, other types of common features lead to rank reduction of the short …

derive unit root and cointegration tests in panels with short time dimension; these tests have the attractive feature that … hypothesis and cointegration tests based on it perform well in small sample; this is in marked contrast to the small sample …

(possibly unwarranted) homogeneity and proportionality restrictions are not imposed, and trivariate cointegration (stage …

first clarify the logic of applying cointegration methods to the RERI and propose an alternative way of testing the …