Efficiency-Adjusted public capital and growth

World Development

Volumn 57, Issue , 2014, Pages 164-178

  Gupta, Sanjeev ^a   Kangur, Alvar ^a   Papageorgiou, Chris ^a   Wane, Abdoul ^a  

^a INTERNATIONAL MONETARY FUND   (United States)

Author keywords

Appraisal; Growth accounting; Implementation and evaluation of public investment; Public capital stock; Public investment efficiency; Selection

Indexed keywords

CAPITAL; ECONOMIC GROWTH; INVESTMENT;

EID: 84893082904     PISSN: 0305750X     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.worlddev.2013.11.012     Document Type: Article

References (40)

1. Agénor P.-R. Infrastructure investment and maintenance expenditure: Optimal allocation rules in a growing economy. Journal of Public Economic Theory 2009, 11:233-250.
2. Arslanalp, S., Bonhorst, F., Gupta, S., & Sze, E. (2010). Public capital and growth. IMF working paper 10/175.
3. Aschauer D.A. Is public expenditure productive?. Journal of Monetary Economics 1989, 23:177-200.
4. Aschauer, D. A. (1998). How big should the public capital stock be? The Jerome Levy Economics Institute of Bard College Public Policy, No. 43.
5. Baldacci, E., McHugh, J., & Petrova, I. (2011). Measuring fiscal vulnerability and fiscal stress: A proposed set of indicators. IMF working paper 11/94.
6. Barro, R., & Lee, J. -W. (2010). A new data set of educational attainment in the World, 1950-2010. NBER working paper no. 15902.
7. Blundell R., Bond S. Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics 1998, 87:115-143.
8. Blundell R., Bond S. GMM estimation with persistent panel data: An application to production functions. Econometric Reviews 2000, 19:321-340.
9. Bom, P., & Ligthart, J. E., 2010. What have we learned from three decades of research on the productivity of public capital? CESifo working paper series No. 2206, Center discussion paper No. 2008-10.
10. Buffie, E., Berg, A., Pattillo, C., Portillo, R., & Zanna, L. -F. (2011). Public investment, growth and debt sustainability: Putting together the pieces, draft paper, IMF.
11. Collier P., Hoeffler A., Pattillo C. Flight capital as a portfolio choice. The World Bank Economic Review 2001, 15:55-80.
12. Caselli, F. (2005). Accounting for cross-country income differences. In: Handbook of economic growth, (pp 679-741).
13. Caselli J., Feyrer F. Marginal Product of Capital. Quarterly Journal of Economics 2007, 122:535-568.
14. Dabla-Norris Era., Brumby James., Kyobe Annette., Mills Zac., Papageorgiou Chris. Investing in public investment: An index of public investment efficiency. Journal of Economic Growth 2011, 17:235-266.
15. Dabla-Norris, E., Allen, R., Zanna, L. -F., Prakash, T., Kvintradz, E., Lledo, V., Yackovlev, I., & Gollwitzer, S., (2009). Budget Institutions and fiscal performance in low-income countries. IMF Working Paper WP/10/80, Washington, DC.
16. Devarajan S., Swaroop V., Zou H.-F. The composition of public expenditure and economic growth. Journal of Monetary Economics 1996, 37:144-313.
17. Garcia-Mila T., McGuire T.J. The contribution of publicly provided inputs to states' economies. Regional Science and Urban Economics 1992, 22:229-241.
18. Gramlich E.M. Infrastructure investment: A review essay. Journal of Economic Literature 1994, 32:1176-1196.
19. Holtz-Eakin Douglas. Public-sector capital and the productivity puzzle. The Review of Economics and Statistics 1994, 76:12-21.
20. Hulten, C. R., & Schwab, R. M. (1991). Is there too little public capital: Infrastructure and economic growth. Conference paper. Washington, DC: American Enterprise Institute.
21. Isham J., Narayan D., Pritcett L. Does participation improve performance? Establishing causality with subjective data. The World Bank Economic Review 1995, 9:175-200.
22. Kamps C. New estimates of government net capital stocks for 22 OECD countries, 1960-2001. IMF Staff Papers 2006, 53:120-150.
23. Kaufmann D., Kraay A. Governance indicators: Where are we, where should we be going?. World Bank Research Observer 2008, 23:1-30.
24. Kavanagh C. Public capital and private sector productivity in Ireland. Journal of Economic Studies 1997, 24:72-94.
25. Lynde C., Richmond J. The role of public capital in production. Review of Economics and Statistics 1992, 74:37-44.
26. Lynde C., Richmond J. Public capital and total factor productivity. International Economic Review 1993, 34:401-414.
27. Mas M., Maudos J., Pérez F., Uriel E. Competitividad, Productividad Industrial y Dotaciones de Capital Publico. Papeles de Economia Espanola 1993, 56:144-160.
28. Munnell A.H. Why has productivity growth declined? Productivity and public investment. New England Economic Review 1990, (January/February):2-22.
29. Munnell A.H. How does public infrastructure affect regional economic performance?. New England Economic Review 1990, (September/October):11-32.
30. Munnell A.H. Policy watch: Infrastructure investment and economic growth. Journal of Economic Perspectives 1992, 6:189-198.
31. Otto G., Voss G.M. Public capital and private sector productivity. Economic Record 1994, 70:121-132.
32. Pritchett L. The tyranny of concepts: CUDIE (Cumulated, Depreciated, Investment Effort) is not capital. Journal of Economic Growth 2000, 5:361-384.
33. Romp W., De Haan J. Public capital and economic growth: A critical survey. Perspektiven der Wirtschaftspolitik 2007, 8:1-140.
34. Sturm J.-E., Kuper G.H., De Haan J. Modeling government investment and economic growth on a macro level: A review. Market behaviour and macroeconomic modeling 1998, MacMillan Press Ltd, London.
35. Sturm J.-E., De Haan J. Is public expenditure really productive: New evidence for the USA and the Netherlands. Economic Modeling 1995, 12:60-72.
36. Sawyer C.W. Institutional quality and economic growth in Latin America. Global Economy Journal 2010, 10:Issue 4, 1-1.
37. Tanzi, V., & Davoodi, H. R. (2000). Corruption, growth, and public finances. IMF working paper 00/182.
38. Tatom J.A. Public capital and private sector performance. Federal Reserve Bank of St. Louis Review 1991, 73:3-15.
39. Vijverberg W., Vijverberg C.-P., Gamble J. Public capital and private productivity. Review of Economics and Statistics 1997, 79:267-278.
40. World Bank, Independent Evaluation Group. 2009. The World Bank's country policy and institutional assessment: An evaluation.