Infrastructure's Contribution to Aggregate Output

Infrastructure's Contribution to Aggregate Output / Canning, David

Of the major kinds of physical infrastructure, electricity generating capacity has roughly the same marginal productivity as physical capital as a whole. So have roads-plus-rail, globally and in lower-income countries. Telephones, however, and transport routes in higher-income countries, have higher...

Szczegółowa specyfikacja

Zapisane w:
Opis bibliograficzny
Główni autorzy:Canning, David
Format: Online-Resource
Język:English
Wydane:Washington, D.C : The World Bank, 1999
Hasła przedmiotowe:
Steuer
Capital
Economic Growth
Economic Theory and Research
Externalities
Externality
Human Capital
Income
Income Levels
Inputs
Investment
Labor Policies
Macroeconomics and Economic Growth
Marginal Productivity
Marginal Products
Outcomes
Prices
Production
Production Function
Productivity
Social Protections and Labor
Taxation
Telecommunications
Theory
Total Factor Productivity
Transport
Transport Economics, Policy and Planning
Variables
Dostęp online:URL des Erstveröffentlichers
Opis
Streszczenie:Of the major kinds of physical infrastructure, electricity generating capacity has roughly the same marginal productivity as physical capital as a whole. So have roads-plus-rail, globally and in lower-income countries. Telephones, however, and transport routes in higher-income countries, have higher marginal productivity than other kinds of capital. - Using panel data for a cross-section of countries, Canning estimates an aggregate production function that includes infrastructure capital. He finds that: · The productivity of physical and human capital is close to the levels suggested by microeconomic evidence on their private returns. · Electricity generating capacity and transportation networks have roughly the same marginal productivity as capital as a whole. · Telephone networks appear to show higher marginal productivity than other types of capital. Panel data cointegration methods used in estimation take account of the nonstationary nature of the data, are robust to reverse causation, and allow for different levels of productivity and different short-run business-cycle and multiplier relationships across countries. This paper - a product of Public Economics, Development Research Group - is part of a larger effort in the group to study the impact of public expenditures. The study was funded by the Bank's Research Support Budget under the research project Infrastructure and Growth: A Multicountry Panel Study (RPO 680-89). The author may be contacted at d.canning@qub.ac.uk
Deskrypcja:Weitere Ausgabe: Canning, David : Infrastructure's Contribution to Aggregate Output
Opis fizyczny:1 Online-Ressource (20 Seiten)

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