Public Capital and Growth
July 1, 2010
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Summary
This paper estimates the impact of public capital on economic growth for forty-eight OECD and non-OECD countries during 1960 - 2001. Using the production function and its extensions, it finds a positive - but concave - elasticity of output with respect to public capital, which is robust to changes in time intervals and varying depreciation rates. Furthermore, in non-OECD countries the growth impact of public capital is higher once longer time intervals are considered.
Subject: Capital accumulation, Depreciation, Public investment and public-private partnerships (PPP), Public investment spending, Stocks
Keywords: investment rate, ln g, ln k, ln l, OECD country, public capital, WP
Pages:
34
Volume:
2010
DOI:
Issue:
175
Series:
Working Paper No. 2010/175
Stock No:
WPIEA2010175
ISBN:
9781455201860
ISSN:
1018-5941
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