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Public Infrastructures and Regional Asymmetries in Spain

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Author Info
Alfredo M. Pereira () (Department of Economics, College of William and Mary)
Oriol Roca Sagales () (Departament d'Economia Aplicada, Universitat Autonoma de Barcelona)

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Abstract

The objective of this paper is to investigate the effects of public infrastructure on regional economic performance in Spain. The empirical results are based on VAR models relating output, employment, private capital, and public infrastructure. We estimate models at the aggregate level and for each of the 17 regions of Spain. In the regional models, both public infrastructure in the region and public infrastructure elsewhere are considered, thereby taking into consideration the possible existence of regional spillovers. Our empirical results show that regional spillovers are very important, and that although public infrastructure has been a powerful instrument to promote long-term growth, it has done so in a way that is unbalanced across regions. This means that aggregate convergence in Spain to EU standards of living has been achieved at the cost of increased domestic asymmetries.

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Publisher Info
Paper provided by Department of Economics, College of William and Mary in its series Working Papers with number 46.

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Length: 16 pages
Date of creation: 08 Oct 2006
Date of revision: 30 Mar 2007
Handle: RePEc:cwm:wpaper:46

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Related research
Keywords: public infrastructures regional spillovers regional asymmetries

Find related papers by JEL classification:
C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions
H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
R53 - Urban, Rural, and Regional Economics - - Regional Government Analysis - - - Public Facility Location Analysis; Public Investment and Capital Stock

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References listed on IDEAS
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  1. Argimon, Isabel & Gonzalez-Paramo, Jose M & Roldan, Jose M, 1997. "Evidence of Public Spending Crowding-Out from a Panel of OECD Countries," Applied Economics, Taylor and Francis Journals, vol. 29(8), pages 1001-10, August. [Downloadable!] (restricted)
  2. Rudebusch, Glenn D, 1998. "Do Measures of Monetary Policy in a VAR Make Sense?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 39(4), pages 907-31, November.
    Other versions:
  3. Lawrence J. Christiano & Martin Eichenbaum & Charles L. Evans, 1998. "Monetary Policy Shocks: What Have We Learned and to What End?," NBER Working Papers 6400, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  4. Aschauer, David Alan, 1989. "Does public capital crowd out private capital?," Journal of Monetary Economics, Elsevier, vol. 24(2), pages 171-188, September. [Downloadable!] (restricted)
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  5. Alfredo M. Pereira & Jorge M. Andraz, 2004. "Public highway spending and state spillovers in the USA," Applied Economics Letters, Taylor and Francis Journals, vol. 11(12), pages 785-788, October. [Downloadable!] (restricted)
  6. David Alan Aschauer, 1997. "Output and Employment Effects of Public Policy," Macroeconomics 9711002, EconWPA. [Downloadable!]
  7. Bentolila, Samuel, 1997. "Sticky labor in Spanish regions," European Economic Review, Elsevier, vol. 41(3-5), pages 591-598, April. [Downloadable!] (restricted)
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  8. Demetriades, Panicos O & Mamuneas, Theofanis P, 2000. "Intertemporal Output and Employment Effects of Public Infrastructure Capital: Evidence from 12 OECD Economics," Economic Journal, Royal Economic Society, vol. 110(465), pages 687-712, July. [Downloadable!] (restricted)
  9. Pereira, Alfredo Marvao & Roca-Sagales, Oriol, 2003. "Spillover effects of public capital formation: evidence from the Spanish regions," Journal of Urban Economics, Elsevier, vol. 53(2), pages 238-256, March. [Downloadable!] (restricted)
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  10. Christiano, Lawrence J & Eichenbaum, Martin & Evans, Charles, 1996. "The Effects of Monetary Policy Shocks: Evidence from the Flow of Funds," The Review of Economics and Statistics, MIT Press, vol. 78(1), pages 16-34, February. [Downloadable!] (restricted)
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