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Economic Effects of Public Investment

An Emphasis on Marshallian and Monetary External Economies

  • Book
  • © 2016

Overview

Authors:
  1. Hirotada Kohno

    1. Professor Emeritus University of Tsukuba, Tsukuba, Japan

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  • Argues for the importance of measuring incidence-basis indirect economic effects, showing that dynamic and spatial simulation models currently popular in regional science are useful
  • Clarifies intrinsic points of contradictory conclusions by H. Mohring and J. Tinbergen with the introduction of generation-basis and incidence-basis economic effects
  • Shows that the argument by J. Tinbergen is correct within a real setting in which the Marshallian type of external economies exists

Part of the book series: New Frontiers in Regional Science: Asian Perspectives (NFRSASIPER, volume 1)

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Table of contents (11 chapters)

  1. Front Matter

    Pages i-xxiii
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  2. Definition of Economic Effects, Necessity of Measurement, Prototype Model, and Externalities

    • Hirotada Kohno
    Pages 1-22

  3. Time-Saved Evaluation and Social Discount Rate

    • Hirotada Kohno
    Pages 23-39

  4. Perfect Transfer Theory of Indirect Economic Effects Formation: Based on the Generation Base vs. Incidence Base

    • Hirotada Kohno
    Pages 41-55

  5. Independent Existence Theory Forming Indirect Effects and Its Three Examples: Congestion Easing, Scale Enlargement of Factory·Warehouse, and Marshallian External Economies

    • Hirotada Kohno
    Pages 57-64

  6. Formation Process of Marshallian External Economies: Number 3—Technological and Marketable Propagation/Diffusion of the “Technological External Economies”

    • Hirotada Kohno
    Pages 65-78

  7. Social Costs and the Measurement

    • Hirotada Kohno
    Pages 79-117

  8. Measurement of Evaluation Rate of Public Pollution (Noise)

    • Hirotada Kohno
    Pages 119-154

  9. Criteria of Benefits Valuation—Remained vs. Transferred, and Generation Base vs. Incidence Base

    • Hirotada Kohno
    Pages 155-160

  10. Verification of Independent Existence Theory Depended on the Market Equilibrium Model: Based on the Great Discrepancy of the Benefits in Generation Base vs. the Benefits in Incidence Base

    • Hirotada Kohno
    Pages 161-233

  11. Generalization of Technological Propagation/Diffusion Externalities Based on the General Equilibrium Model of Formation Process of Marshallian External Economies: Number 4

    • Hirotada Kohno
    Pages 235-256

  12. Closing Paragraphs—On the Occasion of Closing This Volume: Economic Effects Theory and Measurement

    • Hirotada Kohno
    Pages 257-277

  13. Back Matter

    Pages 279-297
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Keywords

About this book

This book shows the necessity of measuring the incidence-basis indirect economic effects of public investments. The essential argument can be traced back to H. Mohring versus J. Tinbergen, the conclusions of one contradicting those of the other. Their arguments are called, respectively, “transfer” and “existing theory” of the indirect economic effect of public investments such as highways.

The author has first defined the categories of “generation-basis” and “incidence-basis” economic effects in addition to the categories of direct and indirect economic effects, and has shown that it is essential to measure the incidence-basis indirect economic effects for decision making about public investments. The second major point is that, in this sense, the measurement must rely on the general and dynamic spatial modeling simulation approach. The third essential point is that Tinbergen is correct as far as we have to cope with a real setting in which the Marshallian type of external economies exists.

Another characteristic is that the monetary (pecuniary) external economies are dealt with systematically, for the superiority of public investment criteria depends greatly on whether they are taken hold of or not. This book lays emphasis on the process toward the equilibrium, not the equilibrium itself.

Authors and Affiliations

  • Professor Emeritus University of Tsukuba, Tsukuba, Japan

    Hirotada Kohno

About the author

Emeritus Professor, The University of Tsukuba, Japan

Bibliographic Information

  • Book Title: Economic Effects of Public Investment

  • Book Subtitle: An Emphasis on Marshallian and Monetary External Economies

  • Authors: Hirotada Kohno

  • Series Title: New Frontiers in Regional Science: Asian Perspectives

  • DOI: https://doi.org/10.1007/978-4-431-55224-6

  • Publisher: Springer Tokyo

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Japan KK 2016

  • Hardcover ISBN: 978-4-431-55223-9Published: 02 January 2017

  • Softcover ISBN: 978-4-431-56647-2Published: 13 July 2018

  • eBook ISBN: 978-4-431-55224-6Published: 22 December 2016

  • Series ISSN: 2199-5974

  • Series E-ISSN: 2199-5982

  • Edition Number: 1

  • Number of Pages: XXIII, 297

  • Number of Illustrations: 63 b/w illustrations, 7 illustrations in colour

  • Topics: Regional/Spatial Science, Economic Policy, Social Policy

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