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The Dynamic Macroeconomic Effects of Public Capital : Theory and Evidence for OECD Countries. 公的資本の動学的マクロ経済的影響 －OECD諸国の理論と証明－
・ISBN 978-3-540-23897-3 hard EUR 99.99
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| 著者・編者 | Kamps, Christophe, |
|---|---|
| シリーズ | Kieler Studien - Kiel Studies |
| 出版社 | (Springer, GW) |
| 出版年月 | 2005 |
| ページ数 | xiv, 238 pp. |
| 言語 | ENG |
| ニュース番号 | ＜519-291＞ |
解説
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.