Arbeitspapier
The effect of public capital on aggregate output: Empirical evidence for 22 OECD countries
Based on new estimates of public and private capital stocks for 22 OECD countries we study the dynamic effect of public capital on the real gross domestic product using a vector autoregression approach. Whereas most former studies put effort on examining the effects of public capital in a single country, this paper covers a large set of OECD countries. The results show that public capital has a positive effect on output in the short-, medium- and long-run in most countries. In countries where the effect is negative, possible explanations as the different productivities of investments, crowding out or high growth rates of government debt are analyzed.
- Language
-
Englisch
- Bibliographic citation
-
Series: Diskussionspapier ; No. 135
- Classification
-
Wirtschaft
Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General
National Government Expenditures and Related Policies: Infrastructures; Other Public Investment and Capital Stock
- Subject
-
Public capital stock
VAR model
Cointegration
OECD countries
- Event
-
Geistige Schöpfung
- (who)
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Wesselhöft, Jan-Erik
- Event
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Veröffentlichung
- (who)
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Helmut-Schmidt-Universität - Universität der Bundeswehr Hamburg, Fächergruppe Volkswirtschaftslehre
- (where)
-
Hamburg
- (when)
-
2013
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Wesselhöft, Jan-Erik
- Helmut-Schmidt-Universität - Universität der Bundeswehr Hamburg, Fächergruppe Volkswirtschaftslehre
Time of origin
- 2013
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