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The Dynamic Macroeconomic Effects of Public Capital: Theory and Evidence for OECD Countries (Kieler Studien - Kiel Studies)

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Pages: 260

Language: English

Book format: An electronic version of a printed book that can be read on a computer or handheld device designed specifically for this purpose.

Publisher: Springer: 2004 edition (22 Dec. 2004)

By: Christophe Kamps (Author)

This book analyzes the dynamic macroeconomic effects of public capital in industrialized countries. The issue of whether public capital is productive has received a great deal of recent attention. Yet, existing empirical analyses have been limited to a small set of countries. This book presents a new database that provides internationally comparable capital stock estimates for 22 OECD countries for the 1960-2001 period. Building on this database, the book estimates the dynamic effects of public capital using a variety of econometric methods. The results suggest that public capital is productive in OECD countries on average. The theoretical analysis based on a dynamic general equilibrium model shows that the effects of public capital depend crucially on the way the government chooses to finance additional spending.


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