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Assessing the Public Capital Contribution to Growth. An Application to Italy

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Listed:
  • Ernesto Felli
  • Giovanni Tria

Abstract

We provide a model of the relationship between public capital and productivity in the private sector. The empirical evidence on the public capital contribution to growth is mixed. This evidence generally has been obtained in a single equation framework. We deal with this topic in a multi-equation framework, using a choice-theoretic multi-sectoral model of the Italian economy. Historical simulation results show that core- infrastructure-oriented-policies may boost economic growth by improving system efficiency. The magnitude and the modus operandi of this contribution are made in such a manner that financing and crowding out problems appear of second order.

Suggested Citation

  • Ernesto Felli & Giovanni Tria, 2001. "Assessing the Public Capital Contribution to Growth. An Application to Italy," Rivista di Politica Economica, SIPI Spa, vol. 91(5), pages 83-138, June.
    • Handle: RePEc:rpo:ripoec:v:91:y:2001:i:5:p:83-138
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    More about this item

    JEL classification:

    • C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus

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