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- Title
INFRASTRUCTURE, LONG-RUN ECONOMIC GROWTH AND CAUSALITY TESTS FOR COINTEGRATED PANELS.
- Authors
CANNING, DAVID; PEDRONI, PETER
- Abstract
We investigate the consequences of various types of infrastructure provision in a panel of countries from 1950 to 1992. We develop new tests which enable us to isolate the sign and direction of long-run effects in a manner that is robust to the presence of unknown heterogeneous short-run causal relationships. We show that while infrastructure does tend to cause long-run economic growth, there is substantial variation across countries. We also provide evidence that each infrastructure type is provided at close to the growth-maximizing level on average globally, but is under-supplied in some countries and over-supplied in others.
- Subjects
ECONOMIC development; ECONOMIC indicators; INFRASTRUCTURE (Economics); PUBLIC goods; PUBLIC works; ECONOMIC policy; ECONOMIC history; STATICS &; dynamics (Social sciences); CONCRETE panels
- Publication
Manchester School (1463-6786), 2008, Vol 76, Issue 5, p504
- ISSN
1463-6786
- Publication type
Article
- DOI
10.1111/j.1467-9957.2008.01073.x