Utilize este identificador para referenciar este registo: http://hdl.handle.net/10400.1/4754
Título: Public investment in transportation infrastructure and economic performance in Portugal
Autor: Pereira, Alfredo
Andraz, Jorge Miguel
Palavras-chave: Public investment
Economic Performance
Data: 2005
Editora: Wiley
Citação: Pereira, Alfredo M.; Andraz, Jorge M.Public Investment in Transportation Infrastructure and Economic Performance in Portugal, Review of Development Economics, 9, 2, 177-196, 2005
Resumo: In this paper, we use a VAR approach to investigate the effects of public investment in transportation infrastructures on private investment, employment, and output in Portugal. Estimation results suggest that public investment crowds in private investment and employment, and has a strong positive effect on output. We estimate that one euro in public investment increases output in the long-term by 9.5 euros, which corresponds to a rate of return of 15.9%. These figures imply that there are strong long-term budgetary benefits from public investment in the form of increased future tax revenues. A closer look at the effects of different types of public investment uncovers the same general patterns. These results are very important from a public policy perspective. They suggest that the strategy followed by the Portuguese authorities of investing in public infrastructures is justified, both from a long-term development perspective and a long-term public budgetary perspective.
Peer review: yes
URI: http://hdl.handle.net/10400.1/4754
DOI: http://dx.doi.org/ 10.1111/j.1467-9361.2005.00271.x
ISSN: 1363-6669
Versão do Editor: http://onlinelibrary.wiley.com/doi/10.1111/j.1467-9361.2005.00271.x/abstract
Aparece nas colecções:FEC2-Artigos (em revistas ou actas indexadas)

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