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On The Economic Effects Of Public Infrastructure Investment: A Survey Of The International Evidence

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  • ALFREDO M. PEREIRA

    (College of William and Mary, USA)

  • JORGE M. ANDRAZ

    (Universidade do Algarve, Portugal)

Abstract

This paper provides a survey of the significant literature on the effects of public infrastructure investment on economic performance and therefore constitutes a comprehensive reference for academic researchers and policy makers alike. It presents a comprehensive discussion of the empirical research regarding the impact of public infrastructure investment on economic performance in terms of both the methodological approaches followed and respective conclusions. It includes an integrated discussion of the methodological developments that successively have led to the estimation of production functions, cost and profit functions and, more recently, vector autoregressive models. Finally, it identifies some important areas for future research and highlights the natural convergence of this literature with the macroeconomic literature on the effects of fiscal policies.

Suggested Citation

  • Alfredo M. Pereira & Jorge M. Andraz, 2013. "On The Economic Effects Of Public Infrastructure Investment: A Survey Of The International Evidence," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 38(4), pages 1-37, December.
    • Handle: RePEc:jed:journl:v:38:y:2013:i:4:p:1-37
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    More about this item

    Keywords

    Public Investment; Infrastructure; Economic Performance; Evidence for the US; Regional Evidence; Industry-Specific Evidence; International Evidence;
    All these keywords.

    JEL classification:

    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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