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- Publisher Website: 10.1111/j.1475-4932.1997.tb00986.x
- Scopus: eid_2-s2.0-0031437852
- WOS: WOS:A1997XY43400004
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Article: Public infrastructure and economic growth: time-series properties and evidence
Title | Public infrastructure and economic growth: time-series properties and evidence |
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Authors | |
Issue Date | 1997 |
Publisher | Blackwell Publishing Asia. The Journal's web site is located at http://www.blackwellpublishing.com/journals/ECOR |
Citation | Economic Record, 1997, v. 73 n. 221, p. 125-135 How to Cite? |
Abstract | We examine whether economic growth is generated endogenously or exogenously, and estimate the externality effects due to private and public capital respectively. Applying a multivariate stochastic cointegration method to US data, we find that the evidence is unfavourable to the endogenous growth model with public infrastructure. The estimated elasticity of output with respect to public capital is 0.11, smaller than typical values obtained in single-equation regression studies. On the other hand, if the share of capital income is taken to be one-third, then the spillover effect due to private capital is positive but may be as low as 0.10. |
Persistent Identifier | http://hdl.handle.net/10722/177671 |
ISSN | 2023 Impact Factor: 1.1 2023 SCImago Journal Rankings: 0.379 |
ISI Accession Number ID | |
References |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Lau, SHP | en_US |
dc.contributor.author | Sin, CY | en_US |
dc.date.accessioned | 2012-12-19T09:39:29Z | - |
dc.date.available | 2012-12-19T09:39:29Z | - |
dc.date.issued | 1997 | en_US |
dc.identifier.citation | Economic Record, 1997, v. 73 n. 221, p. 125-135 | en_US |
dc.identifier.issn | 0013-0249 | en_US |
dc.identifier.uri | http://hdl.handle.net/10722/177671 | - |
dc.description.abstract | We examine whether economic growth is generated endogenously or exogenously, and estimate the externality effects due to private and public capital respectively. Applying a multivariate stochastic cointegration method to US data, we find that the evidence is unfavourable to the endogenous growth model with public infrastructure. The estimated elasticity of output with respect to public capital is 0.11, smaller than typical values obtained in single-equation regression studies. On the other hand, if the share of capital income is taken to be one-third, then the spillover effect due to private capital is positive but may be as low as 0.10. | en_US |
dc.language | eng | en_US |
dc.publisher | Blackwell Publishing Asia. The Journal's web site is located at http://www.blackwellpublishing.com/journals/ECOR | en_US |
dc.relation.ispartof | Economic Record | en_US |
dc.title | Public infrastructure and economic growth: time-series properties and evidence | en_US |
dc.type | Article | en_US |
dc.identifier.email | Lau, SHP: laushp@hkucc.hku.hk | en_US |
dc.identifier.authority | Lau, SHP=rp01073 | en_US |
dc.description.nature | link_to_subscribed_fulltext | en_US |
dc.identifier.doi | 10.1111/j.1475-4932.1997.tb00986.x | - |
dc.identifier.scopus | eid_2-s2.0-0031437852 | en_US |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-0031437852&selection=ref&src=s&origin=recordpage | en_US |
dc.identifier.volume | 73 | en_US |
dc.identifier.issue | 221 | en_US |
dc.identifier.spage | 125 | en_US |
dc.identifier.epage | 135 | en_US |
dc.identifier.isi | WOS:A1997XY43400004 | - |
dc.publisher.place | Australia | en_US |
dc.identifier.scopusauthorid | Lau, SHP=7401596159 | en_US |
dc.identifier.scopusauthorid | Sin, CY=7003505871 | en_US |
dc.identifier.issnl | 0013-0249 | - |