Central government's infrastructure investment across Chinese regions: A dynamic spatial panel data approach

China Economic Review

Volumn 27, Issue , 2013, Pages 264-276

  Zheng, Xinye ^a   Li, Fanghua ^b   Song, Shunfeng ^c,d   Yu, Yihua ^a  

^a RENMIN UNIVERSITY OF CHINA   (China)

^b UNIVERSITY OF CALIFORNIA   (United States)

^c UNIVERSITY OF NEVADA   (United States)

^d ZHEJIANG UNIVERSITY   (China)

Author keywords

Efficiency equity tradeoff; Infrastructure investment; Spatial interaction

Indexed keywords

EID: 84888298520     PISSN: 1043951X     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.chieco.2012.12.006     Document Type: Article

References (39)

1. Anderson T., Hsiao C. Estimation of dynamic models with error components. Journal of the American Statistical Association 1981, 76(375):598-606.
2. Anselin L., Bera A., Florax R., Yoon M. Simple diagnostic tests for spatial dependence. Regional Science and Urban Economics 1996, 26:77-104.
3. Arellano M., Bond S. Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Review of Economic Studies 1991, 58:277-297.
4. Arellano M., Bover O. Another look at the instrumental variable estimation of error-components models. Journal of Econometrics 1995, 68:29-51.
5. Aschauer D. Is public expenditure productive?. Journal of Monetary Economics 1989, 23(2):177-200.
6. Aschauer D. Public investment and productivity growth in the group of seven. Economic Perspectives 1989, 13:177-200.
7. Aschauer D. Infrastructure and macroeconomic performance: Direct and indirect effects. OECD jobs study: Investment, productivity and employment 1993, 85-101. OECD, Paris.
8. Atlas C., Gilligan G., Hendershott R., Zupan M. Slicing the federal government net spending pie: Who wins, who loses, and why. American Economic Review 1995, 85(3):624-629.
9. Behrman J., Craig S. The distribution of public services: An exploration of local governmental preferences. American Economic Review 1987, 77(1):37-49.
10. Benziger V. China's rural road system during the reform period. China Economic Review 1993, 4(1):1-17.
11. Blundell R., Bond S. Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics 1998, 87(1):115-143.
12. Bond S., Hoeffler A., Temple J. GMM estimation of empirical growth models. CEPR discussion papers 2001, 3048.
13. Boyle M., Matheson M. Determinants of the distribution of congressional earmarks across states. Economics Letters 2009, 104:63-65.
14. Bun M., Windmeijer F. The weak instrument problem of the system GMM estimator in dynamic panel data models. The Econometrics Journal 2010, 13(1):95-126.
15. Cadot O., Röller L., Stephan A. A political economy model of infrastructure allocation: An empirical assessment. CEPR Discussion Papers 1999, 2336.
16. Castells A., Solé-Ollé A. The regional allocation of infrastructure investment: The role of equity, efficiency and political factors. European Economic Review 2005, 49:1165-1205.
17. Costa-i-Font J., Rodriguez-Oreggia E. Is the impact of public investment neutral across the regional income distribution? Evidence from Mexico. Economic Geography 2005, 81(3):305-322.
18. Debarsy N., Ertur C. Testing for spatial autocorrelation in a fixed effects panel data model. Regional Science and Urban Economics 2010, 40:453-470.
19. Elhorst J. Dynamic panels with endogenous interaction effects when T is small. Regional Science and Urban Economics 2010, 40:272-282.
20. Elhorst J. Dynamic spatial panels: Models, methods, and inferences. Journal of Geographical Systems 2012, 14:5-28.
21. Fan S., Zhang X. Infrastructure and regional economic development in rural China. China Economic Review 2002, 15(2):203-214.
22. Fleck R. Population, land, economic conditions, and the allocation of New Deal spending. Explorations in Economic History 2001, 38:296-304.
23. Gramlich E. Infrastructure Investment: A review essay. Journal of Economic Literature 1994, 32(3):1176-1196.
24. Hansen L. Large sample properties of generalized method of moments estimators. Econometrica 1982, 50(4):1029-1054.
25. Hsiao C. Analysis of panel data 1986, Cambridge University Press, Cambridge.
26. Jacobs J., Ligthart J., Vrijburg H. Dynamic panel data models featuring endogenous interaction and spatially correlated errors. International Center for Public Policy (formerly the International Studies Program) Working Paper Series 2009, 0915. International Center for Public Policy (formerly the International Studies Program), Andrew Young School of Policy Studies, Georgia State University.
27. Kemmerling A., Stephen A. The contribution of local public infrastructure to private productivity and its political economy: Evidence from a panel of large German cities. Public Choice 2002, 113:403-424.
28. Kneller R., Bleaney M., Gemmell N. Fiscal policy and growth: Evidence from OECD countries. Journal of Public Economics 1999, 74(2):171-190.
29. Kukenova M., Monteiro J. Spatial dynamic panel model and system GMM: A Monte Carlo investigation. IRENE Working Papers 2008, 09-01. Irene Institute of Economic Research.
30. Lambrinidis M., Psycharis Y., Rovolis A. Regional allocation of public infrastructure investment: The case of Greece. Regional Studies 2005, 39(9):1231-1244.
31. National Bureau of Statistics China Statistical Yearbook 2009 2009, China Statistical Press, Beijing.
32. Nickell S. Biases in dynamic models with fixed effects. Econometrica 1981, 49(6):1417-1426.
33. Oates W. Fiscal federalism 1972, Harcourt Brace Jovanovich, New York, NY.
34. Roodman D. How to do Xtabond2: An introduction to "difference" and "system" GMM in Stata. The Stata Journal 2006, 9(1):86-136.
35. Roodman D. A note on the theme of too many instruments. Oxford Bulletin of Economics and Statistics 2009, 71(1):135-158.
36. Sturm J. Public capital expenditure in OECD countries: The causes and impact of the decline in public capital spending 1998, Edward Elgar, Cheltenham.
37. Wallis J. The political economy of New Deal spending revisited, again: With and without Nevada. Explorations in Economic History 1998, 35:140-170.
38. Windmeijer F. A finite sample correction for the variance of linear efficient two-step GMM estimators. Journal of Econometrics 2005, 128:26-51.
39. Wu A. Political determinants of US federal distributive spending. Columbia University Working Paper Series 2007.