The Dynamic Effects of Public Capital: VAR Evidence for 22 OECD Countries
نویسنده
چکیده
The issue of whether government capital is productive has received a great deal of recent attention. Yet, empirical analyses of public capital productivity have been limited to a small sample of countries for which official capital stock estimates are available. Building on a new database that provides internationally comparable capital stock estimates, this paper estimates the dynamic effects of public capital using the vector autoregressive (VAR) methodology for a large set of OECD countries. The empirical results suggest that there is evidence for positive output effects of public capital in OECD countries, but hardly any evidence for positive employment effects.
منابع مشابه
IMF Staff Papers, Vol. 53, No. 1, 2006: New Estimates of Government Net Capital Stocks for 22 OECD Countries, 1960-2001 by Christophe Kamps
The issue of whether government capital is productive has received a great deal of attention recently, yet empirical analyses of public capital productivity have generally been limited to the official capital stock estimates available in a small sample of countries. Alternatively, many researchers have investigated the output effects of public investment—recognizing that investment may be a poo...
متن کاملIMF Staff Papers, Vol. 53, No. 1, 2006: New Estimates of Government Net Capital Stocks for 22 OECD Countries, 1960-2001 by Christophe Kamps
The issue of whether government capital is productive has received a great deal of attention recently, yet empirical analyses of public capital productivity have generally been limited to the official capital stock estimates available in a small sample of countries. Alternatively, many researchers have investigated the output effects of public investment—recognizing that investment may be a poo...
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