Infrastructure and Growth: Empirical Evidence
Investment in network infrastructure can boost long-term economic growth in OECD countries. Moreover, infrastructure investment can have a positive effect on growth that goes beyond the effect of the capital stock because of economies of scale, the existence of network externalities and competition...
Gespeichert in:
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| Weitere Verfasser: | , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2009
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Investment in network infrastructure can boost long-term economic growth in OECD countries. Moreover, infrastructure investment can have a positive effect on growth that goes beyond the effect of the capital stock because of economies of scale, the existence of network externalities and competition enhancing effects. This paper, which is part of a project examining the links between infrastructure and growth and the role of public policies, reports the results on the links with growth from a variety of econometric approaches. Time-series results reveal a positive impact of infrastructure investment on growth. They also show that this effect varies across countries and sectors and over time. In some cases, these results reveal evidence of possible over-investment, which may be related to inefficient use of infrastructure. Bayesian model averaging of cross-section growth regressions confirm that infrastructure investment in telecommunications and the electricity sectors has a robust positive effect on long-term growth (but not in railways and road networks). Furthermore, this effect is highly nonlinear as the impact is stronger if the physical stock is lower |
| Beschreibung: | 1 Online-Ressource (60 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/225682848268 |
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| spelling | Égert, Balázs Verfasser aut Infrastructure and Growth Empirical Evidence Balázs Égert, Tomasz Koźluk and Douglas Sutherland = Infrastructure et croissance : Évidence empirique / Balázs Égert, Tomasz Koźluk et Douglas Sutherland Infrastructure et croissance : Évidence empirique Paris OECD Publishing 2009 1 Online-Ressource (60 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers Investment in network infrastructure can boost long-term economic growth in OECD countries. Moreover, infrastructure investment can have a positive effect on growth that goes beyond the effect of the capital stock because of economies of scale, the existence of network externalities and competition enhancing effects. This paper, which is part of a project examining the links between infrastructure and growth and the role of public policies, reports the results on the links with growth from a variety of econometric approaches. Time-series results reveal a positive impact of infrastructure investment on growth. They also show that this effect varies across countries and sectors and over time. In some cases, these results reveal evidence of possible over-investment, which may be related to inefficient use of infrastructure. Bayesian model averaging of cross-section growth regressions confirm that infrastructure investment in telecommunications and the electricity sectors has a robust positive effect on long-term growth (but not in railways and road networks). Furthermore, this effect is highly nonlinear as the impact is stronger if the physical stock is lower Economics Koźluk, Tomasz ctb Sutherland, Douglas ctb https://doi.org/10.1787/225682848268 Verlag kostenfrei Volltext |
| spellingShingle | Égert, Balázs Infrastructure and Growth Empirical Evidence Economics |
| title | Infrastructure and Growth Empirical Evidence |
| title_alt | Infrastructure et croissance : Évidence empirique |
| title_auth | Infrastructure and Growth Empirical Evidence |
| title_exact_search | Infrastructure and Growth Empirical Evidence |
| title_exact_search_txtP | Infrastructure and Growth Empirical Evidence |
| title_full | Infrastructure and Growth Empirical Evidence Balázs Égert, Tomasz Koźluk and Douglas Sutherland = Infrastructure et croissance : Évidence empirique / Balázs Égert, Tomasz Koźluk et Douglas Sutherland |
| title_fullStr | Infrastructure and Growth Empirical Evidence Balázs Égert, Tomasz Koźluk and Douglas Sutherland = Infrastructure et croissance : Évidence empirique / Balázs Égert, Tomasz Koźluk et Douglas Sutherland |
| title_full_unstemmed | Infrastructure and Growth Empirical Evidence Balázs Égert, Tomasz Koźluk and Douglas Sutherland = Infrastructure et croissance : Évidence empirique / Balázs Égert, Tomasz Koźluk et Douglas Sutherland |
| title_short | Infrastructure and Growth |
| title_sort | infrastructure and growth empirical evidence |
| title_sub | Empirical Evidence |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/225682848268 |
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