Effects of public investment in infraestructures on the spanish economy
| dc.contributor.author | Flores de Frutos, Rafael | |
| dc.contributor.author | Gracia Díez, Mercedes | |
| dc.contributor.author | Pérez Amaral, Teodosio | |
| dc.date.accessioned | 2023-06-21T01:36:39Z | |
| dc.date.available | 2023-06-21T01:36:39Z | |
| dc.date.issued | 1994 | |
| dc.description.abstract | The objetive of this paper is to evaluate the short and long term effects of public investment in infraestructure on aggregate output, labor and capital formation in the private sector. The problem is analyzed in a dynamic multivariate framework, which allows for explicit consideration of feedback among all the variables. This approach departs from the current literature, which relies on a single equation model to estimate production functions. The results suggest a positive long term effect of public investment on the private sector variables. | |
| dc.description.abstract | El objetivo de este trabajo es evaluar los efectos a corto y a largo plazo de la inversión en infraestructuras sobre el crecimiento del producto agregado, el empleo y el stock de capital en el sector privado. A diferencia de otros estudios, donde se estiman funciones de producción en un marco uniecuacional, en este trabajo planteamos el problema en un contexto multiecuacional dinámico, lo que permite tener en cuenta explícitamente la presencia de efectos de retroalimentación entre las variables consideradas. Los resultados sugieren que el efecto a largo plazo de la inversión pública en infraestructuras sobre las variables del sector privado es positivo. | |
| dc.description.faculty | Fac. de Ciencias Económicas y Empresariales | |
| dc.description.faculty | Instituto Complutense de Análisis Económico (ICAE) | |
| dc.description.refereed | TRUE | |
| dc.description.status | pub | |
| dc.eprint.id | https://eprints.ucm.es/id/eprint/27880 | |
| dc.identifier.relatedurl | http://www.ucm.es/icae | |
| dc.identifier.uri | https://hdl.handle.net/20.500.14352/64149 | |
| dc.issue.number | 04 | |
| dc.language.iso | eng | |
| dc.page.total | 25 | |
| dc.publication.place | Madrid | |
| dc.publisher | Facultad de Ciencias Económicas y Empresariales. Instituto Complutense de Análisis Económico (ICAE) | |
| dc.relation.ispartofseries | Documentos de Trabajo del Instituto Complutense de Análisis Económico (ICAE) | |
| dc.rights | Atribución-NoComercial-CompartirIgual 3.0 España | |
| dc.rights.accessRights | open access | |
| dc.rights.uri | https://creativecommons.org/licenses/by-nc-sa/3.0/es/ | |
| dc.subject.keyword | Inversión en infraestructuras | |
| dc.subject.keyword | Inversión pública | |
| dc.subject.keyword | Economía española. | |
| dc.subject.ucm | Desarrollo económico | |
| dc.subject.ucm | Macroeconomía | |
| dc.subject.unesco | 5307.03 Modelos y Teorías del desarrollo Económico | |
| dc.subject.unesco | 5307.04 Estudios del desarrollo Económico | |
| dc.subject.unesco | 5307.14 Teoría Macroeconómica | |
| dc.title | Effects of public investment in infraestructures on the spanish economy | |
| dc.type | technical report | |
| dc.volume.number | 1994 | |
| dcterms.references | Aaron, H. (1990) "Discussion of Why is Infraestructure Important?" in A. Munnell, ed., Is There a Shortfall in Public Capital Investment? Conferenee Series No 34, Federal Reserve Bank of Boston, pp. 51-63. Argimón, I. and M. J. Martín (1993) "Series de stock de infraestructuras del Estado y de las administraciones públicas en España", Servicio de Estudios del Banco de España, documento de trabajo nº 9315. Argimón, I., J.M. González-Páramo, M.J. Martín and J. M. Roldán (1993) "Productividad e infraestructuras en la economía española", Servicio de Estudios del Banco de España, documento de trabajo nº 9313. Aschauer, D. (1989a) "Does Public Capital Crowd out Private Capital?", Journal of Monetary Economics, 24, pp. 171-188. Aschauer, D. (1989b) "Is Public Expenditure Productive?". Journal of Monetary Economics, 23, pp. 177-200. Bajo, O. and S. Sosvilla (1993) "Does Public Capital Affeet Private Sector Performance?" An Analysis of the Spanish Case, 1964-1988", Economic Modelling, 10, 3, pp. 179-185. Box, G. and G. Jenkins (1970) Time Series Analysis, Forecasting and Control, San Francisco: Holden Day, 2nd edition. Corrales, A. and D. Taguas (1989) "Series macroeconómicas para el periodo 1954-88: un intento de homogeneización", Monografía nº 75, Instituto de Estudios Fiscales, Madrid. Eberts, R. (1990) "Public Infraestructure and Regional Economic Development: A Simultaneous Equation Approach", Economic Review, Federal Reserve Bank of Cleveland, 26, pp. 15-27. Flores, R. (1990) "Los Efectos de la Expansión Monetaria sobre la Economía Real de Estados Unidos", Investigaciones Económicas, XIV, 3, pp. 479-502. Flores, R and A. Pereira (1993) "Public Capital and Economie Growth in the United States. Is Public Capital Productive?". University of California, San Diego, Discussion paper 93-31. Ford R. and P. Poret (1991) "Infraestructure and Private Sector Productivity", OECD Economic Studies, 17, pp. 63-89. García Milá, T. and T. McGuire (1992) "The Contribution of Publicly Provided Inputs to States 'Economies'", Regional Science and Urban Economics, 22, pp. 229-241. García Perea, P. and R. Gómez (1993) "Elaboración de series históricas de empleo a partir de la encuesta de población activa (1964-1992), mimeo, Servicio de Estudios del Banco de España. Hillmer, S.C. and G.C. Tiao (1979) "Likelihood Function of Stationary Multiple Autorregresive Moving Average Models", Journal of the American Statistical Association, 74, 367, pp. 652-660. Jenkins. G. M. and A. S. Alavi (1981) "Some aspects of Modeling and Forecasting Multivariate Time Series", Journal of Time Series Analysis. 2, pp. 1-47. Johansen, S. (1988) "statistical Analysis of Cointegration Vectors", Journal of Economics, Dynamics and Control, 12, pp. 231-254. Molinas, C., F. C. Ballabriga, E. Canadell, A. Escribano, E. López, L. Manzanedo, R. Mestre, M. Sebastián and D. Taguas (1990), MOISEES. Un modelo de investigación y simulación de la economía española, Antoni Bosch ed. and Instituto de Estudios Fiscales. Munnell, A. (1990a) "Why Has Productivity Declined? Productivity and Public Investment", New England Economic Review, Federal Reserve Bank of Boston, pp. 3-22. Munnell, A. (1990b) "How Does Public Infrastructure Affect Regional Economic Performance?", in A. H. Munnell (ed.), Is There a Shortfall in Public Capital Investment?, Federal Reserve Bank of Boston, Conference Series 34, pp. 69-103. Munnell. A. (1992) "Infraestructure Investment and Economic Growth", Journal of Economic Perspectives, 6, pp. 189-198. Munnell, A. and L. Cook (1990) "How Does Public Infraestructure Affect Regional Performance?", New England Economic Review, Federal Reserve Bank of Boston, pp. 11-32. Tatom, J. (1991) "Public Capital and Private Sector Performance", Review, Federal Reserve Bank of St. Louis, pp. 3-15. Tiao, G. C. and G. E. Box (1981) "Modeling Multiple Time series with Applications", Journal of the American Statistical Association, 76. pp. 802-816. | |
| dspace.entity.type | Publication | |
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