This book analyzes the dynamic macroeconomic effects of public capital in industrialized countries. The issue of whether public capital is productive has received a great deal of recent attention. Yet, existing empirical analyses have been limited to a small set of countries. This book presents a new database that provides internationally comparable capital stock estimates for 22 OECD countries for the 1960-2001 period. Building on this database, the book estimates the dynamic effects of public capital using a variety of econometric methods. The results suggest that public capital is productive in OECD countries on average. The theoretical analysis based on a dynamic general equilibrium model shows that the effects of public capital depend crucially on the way the government chooses to finance additional spending.1960-2001. The issue of whether government capital is productive has received a great deal of recent attention.13 In his ... capital stock data for a large number of OECD member countries has forced most empirical studies to focus on the United States. Few studies have investigated the productivity of government capital for other OECD countries: examples are Ford ... Stock Statistics, whose activities resulted in the publication of a manual on the measurement of capital ( OECD 2001a).
|Title||:||The Dynamic Macroeconomic Effects of Public Capital|
|Publisher||:||Springer Science & Business Media - 2004-12-22|