Artikel

Contributions of Public Investment to Economic Growth and Productivity

Whereas a large variety of previous studies show mixed results regarding the relationship between public investment and economic outcome, several studies have been conducted on related issues in Korea. The present study deals with the effect of public investment in Korea on economic growth and productivity. Using administrative data, it exploits three different methodologies: the total factor productivity approach, production function approach, and stochastic frontier production function approach. The results of this study show that public investment has a statistically significant effect on economic growth. However, it contributes little to enhance productivity. It is explained that there exists inefficiency of production in the Korean economy. These findings indicate that public investment has played a central role in the direct input factor and not in indirect role in Korea. Thus, it is necessary for public investment policies to concentrate on enhancing the efficiency of the Korean economy.

Sprache
Englisch

Erschienen in
Journal: KDI Journal of Economic Policy ; ISSN: 2586-4130 ; Volume: 39 ; Year: 2017 ; Issue: 4 ; Pages: 25-50 ; Sejong: Korea Development Institute (KDI)

Klassifikation
Wirtschaft
Estimation: General
Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
Public Goods
Thema
Public Investment
Public Capital
Total Factor Productivity
Production Function
Stochastic Frontier Production Function

Ereignis
Geistige Schöpfung
(wer)
Han, Sungmin
Ereignis
Veröffentlichung
(wer)
Korea Development Institute (KDI)
(wo)
Sejong
(wann)
2017

DOI
doi:10.23895/kdijep.2017.39.4.25
Handle
Letzte Aktualisierung
10.03.2025, 11:44 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Artikel

Beteiligte

  • Han, Sungmin
  • Korea Development Institute (KDI)

Entstanden

  • 2017

Ähnliche Objekte (12)