Infrastructure's Contribution to Aggregate Output:
Of the major kinds of physical infrastructure, electricity generating capacity has roughly the same marginal productivity as physical capital as a whole. So have roads-plus-rail, globally and in lower-income countries. Telephones, however, and transport routes in higher-income countries, have higher...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
1999
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| Schlagworte: | |
| Online-Zugang: | BSB01 EUV01 HTW01 FHI01 IOS01 Volltext |
| Zusammenfassung: | Of the major kinds of physical infrastructure, electricity generating capacity has roughly the same marginal productivity as physical capital as a whole. So have roads-plus-rail, globally and in lower-income countries. Telephones, however, and transport routes in higher-income countries, have higher marginal productivity than other kinds of capital. - Using panel data for a cross-section of countries, Canning estimates an aggregate production function that includes infrastructure capital. He finds that: · The productivity of physical and human capital is close to the levels suggested by microeconomic evidence on their private returns. · Electricity generating capacity and transportation networks have roughly the same marginal productivity as capital as a whole. · Telephone networks appear to show higher marginal productivity than other types of capital. Panel data cointegration methods used in estimation take account of the nonstationary nature of the data, are robust to reverse causation, and allow for different levels of productivity and different short-run business-cycle and multiplier relationships across countries. This paper - a product of Public Economics, Development Research Group - is part of a larger effort in the group to study the impact of public expenditures. The study was funded by the Bank's Research Support Budget under the research project Infrastructure and Growth: A Multicountry Panel Study (RPO 680-89). The author may be contacted at d.canning@qub.ac.uk |
| Beschreibung: | 1 Online-Ressource (20 Seiten)) |
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| 520 | 3 | |a Of the major kinds of physical infrastructure, electricity generating capacity has roughly the same marginal productivity as physical capital as a whole. So have roads-plus-rail, globally and in lower-income countries. Telephones, however, and transport routes in higher-income countries, have higher marginal productivity than other kinds of capital. - Using panel data for a cross-section of countries, Canning estimates an aggregate production function that includes infrastructure capital. He finds that: · The productivity of physical and human capital is close to the levels suggested by microeconomic evidence on their private returns. · Electricity generating capacity and transportation networks have roughly the same marginal productivity as capital as a whole. · Telephone networks appear to show higher marginal productivity than other types of capital. Panel data cointegration methods used in estimation take account of the nonstationary nature of the data, are robust to reverse causation, and allow for different levels of productivity and different short-run business-cycle and multiplier relationships across countries. This paper - a product of Public Economics, Development Research Group - is part of a larger effort in the group to study the impact of public expenditures. The study was funded by the Bank's Research Support Budget under the research project Infrastructure and Growth: A Multicountry Panel Study (RPO 680-89). The author may be contacted at d.canning@qub.ac.uk | |
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| spelling | Canning, David Verfasser aut Infrastructure's Contribution to Aggregate Output Canning, David Washington, D.C The World Bank 1999 1 Online-Ressource (20 Seiten)) txt rdacontent c rdamedia cr rdacarrier Of the major kinds of physical infrastructure, electricity generating capacity has roughly the same marginal productivity as physical capital as a whole. So have roads-plus-rail, globally and in lower-income countries. Telephones, however, and transport routes in higher-income countries, have higher marginal productivity than other kinds of capital. - Using panel data for a cross-section of countries, Canning estimates an aggregate production function that includes infrastructure capital. He finds that: · The productivity of physical and human capital is close to the levels suggested by microeconomic evidence on their private returns. · Electricity generating capacity and transportation networks have roughly the same marginal productivity as capital as a whole. · Telephone networks appear to show higher marginal productivity than other types of capital. Panel data cointegration methods used in estimation take account of the nonstationary nature of the data, are robust to reverse causation, and allow for different levels of productivity and different short-run business-cycle and multiplier relationships across countries. This paper - a product of Public Economics, Development Research Group - is part of a larger effort in the group to study the impact of public expenditures. The study was funded by the Bank's Research Support Budget under the research project Infrastructure and Growth: A Multicountry Panel Study (RPO 680-89). The author may be contacted at d.canning@qub.ac.uk Online-Ausg Capital Economic Growth Economic Theory and Research Externalities Externality Human Capital Income Income Levels Inputs Investment Labor Policies Macroeconomics and Economic Growth Marginal Productivity Marginal Products Outcomes Prices Production Production Function Productivity Social Protections and Labor Taxation Telecommunications Theory Total Factor Productivity Transport Transport Economics, Policy and Planning Variables Canning, David Sonstige oth Canning, David Infrastructure's Contribution to Aggregate Output http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-2246 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Canning, David Infrastructure's Contribution to Aggregate Output Capital Economic Growth Economic Theory and Research Externalities Externality Human Capital Income Income Levels Inputs Investment Labor Policies Macroeconomics and Economic Growth Marginal Productivity Marginal Products Outcomes Prices Production Production Function Productivity Social Protections and Labor Taxation Telecommunications Theory Total Factor Productivity Transport Transport Economics, Policy and Planning Variables |
| title | Infrastructure's Contribution to Aggregate Output |
| title_auth | Infrastructure's Contribution to Aggregate Output |
| title_exact_search | Infrastructure's Contribution to Aggregate Output |
| title_exact_search_txtP | Infrastructure's Contribution to Aggregate Output |
| title_full | Infrastructure's Contribution to Aggregate Output Canning, David |
| title_fullStr | Infrastructure's Contribution to Aggregate Output Canning, David |
| title_full_unstemmed | Infrastructure's Contribution to Aggregate Output Canning, David |
| title_short | Infrastructure's Contribution to Aggregate Output |
| title_sort | infrastructure s contribution to aggregate output |
| topic | Capital Economic Growth Economic Theory and Research Externalities Externality Human Capital Income Income Levels Inputs Investment Labor Policies Macroeconomics and Economic Growth Marginal Productivity Marginal Products Outcomes Prices Production Production Function Productivity Social Protections and Labor Taxation Telecommunications Theory Total Factor Productivity Transport Transport Economics, Policy and Planning Variables |
| topic_facet | Capital Economic Growth Economic Theory and Research Externalities Externality Human Capital Income Income Levels Inputs Investment Labor Policies Macroeconomics and Economic Growth Marginal Productivity Marginal Products Outcomes Prices Production Production Function Productivity Social Protections and Labor Taxation Telecommunications Theory Total Factor Productivity Transport Transport Economics, Policy and Planning Variables |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-2246 |
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