Road to Ruin? A Spatial Analysis of State Highway Spending
نویسندگان
چکیده
Do states engage in infrastructure expenditure competition to attract new economic activity? Economic theory is inconclusive on the matter. States might respond to increased infrastructure spending in competitor states by increasing their own infrastructure spending. Conversely, states may decrease spending in the presence of positive spillovers from competitor states’ infrastructure investment. Using spatial econometric techniques and focusing specifically on highway spending, we demonstrate that states expend less on highways when spending in neighboring states increases. We explore this possibility further by modeling state personal income growth as a function of own-state and neighborstate highway spending. Our findings suggest positive spillovers influence interstate relationships for highway spending rather than race-to-the-top competition for economic activity.
منابع مشابه
THE EFFECT OF GOVERNMENT HIGHWAY SPENDING ON ROAD USERS’ CONGESTION COSTS Final Report to the Federal Highway Administration
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تاریخ انتشار 2007