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Role of efficiency and composition of public infrastructure: implications for growth and employment

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  • Jayeeta Roy Chowdhury
  • Arpita Ghose

Abstract

This paper contributes to theoretical endogenous growth literature, establishing the role of efficiency of public infrastructure use by private/public production sectors and composition of public infrastructure (i.e. proportion of public infrastructure directed towards productivity-enhancing purposes) in growth-process. For a small open economy with private/public production sectors, at free trade, increases in efficiency of public infrastructure use by private/public production-sector increase balanced growth rate, ratios of economy-wide aggregate-level of (i) private to public capital and (ii) employment to public – capital, under restrictions on efficiency – composition mix of public infrastructure and the free trade price, given other model-parameters; i.e. effect of efficiency-increase depends on public infrastructure composition. Thus, assessment of macroeconomic implications of employment should consider efficiency and composition of public infrastructure.

Suggested Citation

  • Jayeeta Roy Chowdhury & Arpita Ghose, 2024. "Role of efficiency and composition of public infrastructure: implications for growth and employment," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 17(2), pages 374-395, May.
    • Handle: RePEc:taf:macfem:v:17:y:2024:i:2:p:374-395
    DOI: 10.1080/17520843.2023.2281080
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