New estimates of government net capital stocks for 22 OECD countries, 1960-2001

IMF Staff Papers

Volumn 53, Issue 1, 2006, Pages 120-150

  Kamps, Christophe ^a  

^a EUROPEAN CENTRAL BANK   (Germany)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 33646405729     PISSN: 10207635     EISSN: 15645150     Source Type: Book Series    
DOI: None     Document Type: Article

References (52)

1. Aschauer, David Alan, 1989a, "Does Public Capital Crowd Out Private Capital?" Journal of Monetary Economics, Vol. 24 (September), pp. 171-88.
2. Aschauer, David Alan, 1989b, "Is Public Expenditure Productive?" Journal of Monetary Economics, Vol. 23 (March), pp. 177-200.
3. Aschauer, David Alan, 1995, "Infrastructure and Macroeconomic Performance: Direct and Indirect Effects," in The OECD Jobs Study: Investment, Productivity and Employment (Paris: Organization for Economic Cooperation and Development).
4. Berndt, Ernst R., and Bengt Hansson, 1991, "Measuring the Contribution of Public Infrastructure Capital in Sweden," NBER Working Paper No. 3842 (Cambridge, Massachusetts: National Bureau of Economic Research).
5. Boskin, Michael J., Marc S. Robinson, and Alan M. Huber, 1987, "New Estimates of State and Local Government Tangible Capital and Net Investment," NBER Working Paper No. 2131 (Cambridge, Massachusetts: National Bureau of Economic Research).
6. Broadberry, Stephen, 1988, "The Impact of the World Wars on the Long Run Performance of the British Economy," Oxford Review of Economic Policy, Vol. 4 (Spring), pp. 25-37.
7. Demetriades, Panicos O., and Theofanis P. Mamuneas, 2000, "Intertemporal Output and Employment Effects of Public Infrastructure Capital: Evidence from 12 OECD Economies," Economic Journal, Vol. 110 (July), pp. 687-712.
8. Dickey, David A., and Wayne A. Fuller, 1979, "Distribution of Estimators for Autoregressive Time Series with a Unit Root," Journal of the American Statistical Association, Vol. 74 (June), pp. 427-31.
9. Dickey, David A., 1981, "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Vol. 49 (July), pp. 1057-72.
10. Eichengreen, Barry, and Albrecht Ritschl, 1998, "Winning the War, Losing the Peace? Britain's Post-War Recovery in a West German Mirror," CEPR Discussion Paper No. 1809 (London: Center for Economic Policy Research).
11. Engle, Robert F., and Clive W. J. Granger, 1987, "Co-Integration and Error Correction: Representation, Estimation, and Testing," Econometrica, Vol. 55 (March), pp. 251-76.
12. European Commission, International Monetary Fund, Organization for Economic Cooperation and Development, United Nations, and World Bank, 1993, System of National Accounts 1993 (Brussels: Commission of the European Communities).
13. Evans, Paul, and Georgios Karras, 1994, "Is Government Capital Productive? Evidence from a Panel of Seven Countries," Journal of Macroeconomics, Vol. 16 (Spring), pp. 271-79.
14. Feinstein, Charles H., 1972, National Income, Expenditure and Output of the United Kingdom, 1855-1965, Studies in the National Income and Expenditure of the United Kingdom, Vol. 6 (Cambridge, United Kingdom: Cambridge University Press).
15. Fitz Gerald, John, Ide Kearney, and Edgar Morgenroth, eds., 1999, "National Investment Priorities for the Period 2000-2006," ESRI Policy Research Series, No. 33 (Dublin: Economic and Social Research Institute).
16. Florio, Massimo, 2001, "On Cross-Country Comparability of Government Statistics: Public Expenditure Trends in OECD National Accounts," International Review of Applied Economics, Vol. 15 (April), pp. 181-98.
17. Ford, Robert, and Pierre Poret, 1991, "Infrastructure and Private-Sector Productivity," OECD Economic Studies, Vol. 17 (Autumn), pp. 63-89.
18. Fuente, Angel de la, and Rafael Doménech, 2002, "Human Capital in Growth Regressions: How Much Difference Does Data Quality Make? An Update and Further Results," CEPR Discussion Paper No. 3587 (London: Center for Economic Policy Research).
19. Giersch, Herbert, Karl-Heinz Paqué, and Holger Schmieding, 1992, The Fading Miracle: Four Decades of Market Economy in Germany (Cambridge, United Kingdom: Cambridge University Press).
20. Gramlich, Edward M., 1994, "Infrastructure Investment: A Review Essay," Journal of Economic Literature, Vol. 32 (September), pp. 1176-96.
21. Holtz-Eakin, Douglas, 1993, "State-Specific Estimates of State and Local Government Capital," Regional Science and Urban Economics, Vol. 23 (April), pp. 185-209.
22. Im, Kyung So, M. Hashem Pesaran, and Yongcheol Shin, 2003, "Testing for Unit Roots in Heterogeneous Panels," Journal of Econometrics, Vol. 115 (July), pp. 53-74.
23. International Monetary Fund, 2001, Government Finance Statistics Manual 2001 (Washington).
24. Jacob, Verughese, Subhash C. Sharma, and Richard Grabowski, 1997, "Capital Stock Estimates for Major Sectors and Disaggregated Manufacturing in Selected OECD Countries," Applied Economics, Vol. 29 (May), pp. 563-79.
25. Kamps, Christophe, 2004, "New Estimates of Government Net Capital Stocks for 22 OECD Countries 1960-2001," IMF Working Paper 04/67 (Washington: International Monetary Fund).
26. Kamps, Christophe, 2005, "The Dynamic Effects of Public Capital: VAR Evidence for 22 OECD Countries," International Tax and Public Finance, Vol. 12 (August), pp. 533-58.
27. Levin, Andrew, Chien-Fu Lin, and Chia-Shang James Chu, 2002, "Unit Root Tests in Panel Data: Asymptotic and Finite-Sample Properties," Journal of Econometrics, Vol. 108 (May), pp. 1-24.
28. Ligthart, Jenny, 2002, "Public Capital and Output Growth in Portugal: An Empirical Analysis," European Review of Economics and Finance, Vol. 1 (September), pp. 3-30.
29. Luetzel, Heinrich, 1977, "Estimates of Capital Stock by Industries in the Federal Republic of Germany," Review of Income and Wealth, Vol. 23 (March), pp. 63-78.
30. MacKinnon, James G., 1991, "Critical Values for Cointegration Tests," in Long-Run Economic Relationships: Readings in Cointegration, ed. by Robert F. Engle and Clive William John Granger (Oxford: Oxford University Press).
31. Maddison, Angus, 1982, Phases of Capitalist Development (Oxford: Oxford University Press).
32. Maddison, Angus, 1987, "Growth and Slowdown in Advanced Capitalist Economies: Techniques of Quantitative Assessment," Journal of Economic Literature, Vol. 25 (June), pp. 649-98.
33. Maddison, Angus, 1991, Dynamic Forces in Capitalist Development: A Long-Run Comparative View (Oxford: Oxford University Press).
34. Maddison, Angus, 1995, "Standardised Estimates of Fixed Capital Stock: A Six Country Comparison," in Explaining the Economic Performance of Nations: Essays in Time and Space, ed. by Angus Maddison, Economists of the Twentieth Century series (Brookfield, Vermont: Edward Elgar).
35. Mitchell, Brian R., 1975, European Historical Statistics 1750-1970 (London: Macmillan).
36. Mittnik, Stefan, and Thorsten Neumann, 2001, "Dynamic Effects of Public Investment: Vector Autoregressive Evidence from Six Industrialized Countries," Empirical Economics, Vol. 26 (May), pp. 429-46.
37. Munnell, Alicia H., 1990, "How Does Public Infrastructure Affect Regional Economic Performance," in Is There a Shortfall in Public Capital Investment? ed. by Alicia Munnell, Federal Reserve Bank of Boston Conference Series No. 34 (Boston: Federal Reserve Bank of Boston).
38. Newey, Whitney K., and Kenneth D. West, 1987, "Notes and Comments: A Simple, Positive Semi-Definite, Heteroskedasticity and Autocorrelation Consistent Covariance Matrix," Econometrica, Vol. 55 (May), pp. 703-08.
39. O'Mahony, Mary, 1996, "Measures of Fixed Capital Stocks in the Post-War Period: A Five-Country Study," in Quantitative Aspects of Post-War European Economic Growth, ed. by Bart van Ark and Nicholas Crafts (Cambridge, United Kingdom: Cambridge University Press).
40. Organization for Economic Cooperation and Development, 1997, Flows and Stocks of Fixed Capital 1971-1996 (Paris).
41. Organization for Economic Cooperation and Development, 1998, National Accounts: Main Aggregates, 1960-1996, 1998 Edition, Vol. I (Paris).
42. Organization for Economic Cooperation and Development, 2001, Measuring Capital: A Manual on the Measurement of Capital Stocks, Consumption of Fixed Capital and Capital Services (Paris). Available via the Internet: www.oecd.org/dataoecd/61/57/1876369.pdf.
43. Organization for Economic Cooperation and Development, 2002a, Measuring the Information Economy (Paris).
44. Organization for Economic Cooperation and Development, 2002b, National Accounts of OECD Countries: Main Aggregates, 1989-2000, 2002 Edition, Vol. I (Paris).
45. Organization for Economic Cooperation and Development, 2002c, Purchasing Power Parities and Real Expenditures: 1999 Benchmark Year, 2002 Edition (Paris).
46. Ritschl, Albrecht, 2003, "Germany: Modern Germany," in The Oxford Encyclopedia of Economic History, Vol. 2, ed. by Joel Mokyr (Oxford: Oxford University Press).
47. Ritschl, Albrecht, and Mark Spoerer, 1997, "Das Bruttosozialprodukt in Deutschland nach den amtlichen Volkseinkommens - und Sozialproduktsstatistiken 1901-1995," Jahrbuch für Wirtschaftsgeschichte, No. 2, pp. 27-54.
48. Seitz, Helmut, 2001, "Infrastructure Investment and Economic Activity: Theoretical Issues and International Evidence," in Investing Today for the World of Tomorrow, ed. by Deutsche Bundesbank (Berlin: Springer-Verlag).
49. Sturm, Jan-Egbert, and Jakob de Haan, 1995, "Is Public Expenditure Really Productive? New Evidence for the USA and the Netherlands," Economic Modelling, Vol. 12 (January), pp. 60-72.
50. Sturm, Jan-Egbert, Gerald H. Kuper, and Jakob de Haan, 1998, "Modelling Government Investment and Economic Growth on a Macro Level: A Review," in Market Behaviour and Macroeconomic Modelling, ed. by Steven Brakman, Hans van Ees, and Simon Kuipers (London: Macmillan Press).
51. U.S. Bureau of Economic Analysis (BEA), 1999, "Fixed Reproducible Tangible Wealth in the United States 1925-94" (Washington: U.S. Department of Commerce).
52. Voss, Graham M., 2002, "Public and Private Investment in the United States and Canada," Economic Modelling, Vol. 19 (August), pp. 641-64.