On the economic effects of public infrastructe investment: a survey of the international evidence

Pereira, Alfredo; Andraz, Jorge Miguel

http://hdl.handle.net/10400.1/4226

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Authors

Pereira, Alfredo

Andraz, Jorge Miguel

Abstract(s)

This paper provides a survey of the significant literature on the effects of public infrastructure investment on economic performance and therefore constitutes a comprehensive reference for academic researchers and policy makers alike. It presents a comprehensive discussion of the empirical research regarding the impact of public infrastructure investment on economic performance in terms of both the methodological approaches followed and respective conclusions. It includes an integrated discussion of the methodological developments that successively have led to the estimation of production functions, cost and profit functions and, more recently, vector autoregressive models. Finally, it identifies some important areas for future research and highlights the natural convergence of this literature with the macroeconomic literature on the effects of fiscal policies.

Keywords

Public investment Regional evidence Infrastructure Economic performance Evidence for the US International evidence Industry-specific evidence

URI

http://hdl.handle.net/10400.1/4226

Citation

Pereira, Alfredo M.; Andraz, Jorge L. M.On the Economic Effects of Public Infrastructure Investment: A Survey of the International Evidence, Journal of Economic Development, 38, 4, 1-37, 2013