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Article: Public infrastructure and economic growth: time-series properties and evidence

TitlePublic infrastructure and economic growth: time-series properties and evidence
Authors
Lau, SHPSin, CY
Issue Date1997
PublisherBlackwell 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?
DOI: http://dx.doi.org/10.1111/j.1475-4932.1997.tb00986.x
AbstractWe 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 Identifierhttp://hdl.handle.net/10722/177671
ISSN
0013-0249
2021 Impact Factor: 1.034
2020 SCImago Journal Rankings: 0.365
ISI Accession Number ID
WOS:A1997XY43400004
References
References in Scopus

 

DC FieldValueLanguage
dc.contributor.authorLau, SHPen_US
dc.contributor.authorSin, CYen_US
dc.date.accessioned2012-12-19T09:39:29Z-
dc.date.available2012-12-19T09:39:29Z-
dc.date.issued1997en_US
dc.identifier.citationEconomic Record, 1997, v. 73 n. 221, p. 125-135en_US
dc.identifier.issn0013-0249en_US
dc.identifier.urihttp://hdl.handle.net/10722/177671-
dc.description.abstractWe 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.languageengen_US
dc.publisherBlackwell Publishing Asia. The Journal's web site is located at http://www.blackwellpublishing.com/journals/ECORen_US
dc.relation.ispartofEconomic Recorden_US
dc.titlePublic infrastructure and economic growth: time-series properties and evidenceen_US
dc.typeArticleen_US
dc.identifier.emailLau, SHP: laushp@hkucc.hku.hken_US
dc.identifier.authorityLau, SHP=rp01073en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1111/j.1475-4932.1997.tb00986.x-
dc.identifier.scopuseid_2-s2.0-0031437852en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0031437852&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume73en_US
dc.identifier.issue221en_US
dc.identifier.spage125en_US
dc.identifier.epage135en_US
dc.identifier.isiWOS:A1997XY43400004-
dc.publisher.placeAustraliaen_US
dc.identifier.scopusauthoridLau, SHP=7401596159en_US
dc.identifier.scopusauthoridSin, CY=7003505871en_US
dc.identifier.issnl0013-0249-

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