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Economics - Public Finance | The Dynamic Macroeconomic Effects of Public Capital - Theory and Evidence for OECD Countries

The Dynamic Macroeconomic Effects of Public Capital

Theory and Evidence for OECD Countries

Series: Kieler Studien - Kiel Studies, Vol. 331

Kamps, Christophe

2004, XIV, 240 p.

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This book analyzes the dynamic macroeconomic effects of public capital in industrialized countries. The issue of whether public capital is productive has received a great deal of recent attention. Yet, existing empirical analyses have been limited to a small set of countries. This book presents a new database that provides internationally comparable capital stock estimates for 22 OECD countries for the 1960-2001 period. Building on this database, the book estimates the dynamic effects of public capital using a variety of econometric methods. The results suggest that public capital is productive in OECD countries on average. The theoretical analysis based on a dynamic general equilibrium model shows that the effects of public capital depend crucially on the way the government chooses to finance additional spending.

Content Level » Research

Keywords » Capital Stock - Fiscal Policy - Infrastructure - OECD Countries

Related subjects » Macroeconomics / Monetary Economics / Growth - Public Finance

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