Public Capital and Growth

By Serkan Arslanalp, Fabian Bornhorst, Sanjeev Gupta, Elsa Sze

July 1, 2010

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Serkan Arslanalp, Fabian Bornhorst, Sanjeev Gupta, and Elsa Sze. Public Capital and Growth, (USA: International Monetary Fund, 2010) accessed September 18, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

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

Publication Details

Pages:

34
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2010/175
Stock No:

WPIEA2010175
ISBN:

9781455201860
ISSN:

1018-5941

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