English, Article, Journal or magazine article edition: Optimal Endowments of Public Investment: An Empirical Analysis for the Spanish Regions M.a Dolores Montávez Garcés; Óscar Bajo Rubio; Carmen Díaz Roldán

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Bookmark: http://trove.nla.gov.au/version/160195
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Optimal Endowments of Public Investment: An Empirical Analysis for the Spanish Regions
Author
  • M.a Dolores Montávez Garcés
  • Óscar Bajo Rubio
  • Carmen Díaz Roldán
Physical Description
  • preprint
Notes
  • . In this paper we try to find some evidence on the optimality in the provision of government capital in the Spanish regions, during the period 1965-1995. To this end, an optimality condition is derived from an optimization growth model, generalising the condition previously derived by Karras (1997) to the case of any kind of returns to scale over all inputs in the production function. Then, a simple production function is estimated, from which the marginal products of both private and government capital are computed. By comparing the estimates of those marginal products, we are able to infer whether the public capital stock in the Spanish regions is underprovided or not, relative to the private capital stock.
  • RePEc:hpe:wpaper:y:2002:i:20
  • Regional infrastructures policies, through an increased public investment, are widely used to promote the development of poorer regions in the European countries. In this paper we try to find some evidence on the optimality in the provision of government capital for the case of the Spanish regions, during the period 1965-1995. To this end, a simple optimality condition is derived from an optimization growth model, namely, that marginal products of private and public capital should be equal. By comparing the values of both marginal products, obtained from the estimation of a simple production function, we should be able to infer whether the public capital stock in the Spanish regions is underprovided or not, relative to the private capital stock.
  • Economic growth, government capital, regions
  • RePEc:cea:doctra:e2002_14
Language
  • English
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