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Public Capital Formation and Regional Development in Spain

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  • Alfredo Pereira
  • Oriol Roca Sagales

Abstract

This paper uses a vector autoregression (VAR) approach to evaluate the effects of public investment on private sector performance in Spain. Empirical results suggest that public investment positively affected private investment, employment, and output at both aggregate and regional levels. The regions that benefited the most from public investment in the last two decades were Cataluña, Madrid, and Pais Vasco. These regions are among the largest economic areas in the country and among the ones with the highest GDP per capita. Accordingly, public investment, while an important factor for aggregate economic growth, has also been a source of increasing regional asymmetries.

Suggested Citation

  • Alfredo Pereira & Oriol Roca Sagales, 1999. "Public Capital Formation and Regional Development in Spain," Review of Development Economics, Wiley Blackwell, vol. 3(3), pages 281-294, October.
    • Handle: RePEc:bla:rdevec:v:3:y:1999:i:3:p:281-294
    DOI: 10.1111/1467-9361.00068
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    Cited by:

    1. Sergio Destefanis & Valter Di Giacinto, 2022. "EU structural funds and GDP per capita: Spatial VAR evidence for the European regions," Discussion Paper series in Regional Science & Economic Geography 2022-09, Gran Sasso Science Institute, Social Sciences, revised Oct 2024.
    2. Fedderke, J.W. & Bogetic, Z., 2009. "Infrastructure and Growth in South Africa: Direct and Indirect Productivity Impacts of 19 Infrastructure Measures," World Development, Elsevier, vol. 37(9), pages 1522-1539, September.
    3. Ibrahim B. Kamara, 2007. "The Direct Productivity Impact of Infrastructure Investment: Dynamic Panel Data Evidence From Sub Saharan Africa," Working Papers 048, Economic Research Southern Africa.
    4. 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.

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