MAS M., MAUDOS J., PEREZ F. and URIEL E. (1996) Infrastructures and productivity in the Spanish regions, Reg. Studies 30, 641-649. The aim of this paper is to analyse the role of public capital, the types of infrastructures in which it is invested and their territorial distribution in the gains in productivity of the private sector in the Spanish regions in the period 1964-91 using panel data techniques to control for unobserved state-specific characteristics. The results obtained show how the infrastructures most directly linked to the productive process present a significant and positive effect on productivity. They also show the importance of the network effect of the infrastructures of a productive nature as well as a decrease in the elasticity associated with such infrastructures as development progresses. MAS M., MAUDOS J., PEREZ F. et URIEL E. (1996) Les infrastructures et la productivite aux regions espagnoles, Reg. Studies 30, 641-649. Cet article cherche a analyser le role du capital public, les infrastructures dans lesquelles le capital se voit investir, et leur distribution geographique quant aux gains de productivite du secteur prive aux regions espagnoles sur la periode de 1964 a 1991. On utilise des techniques de donnees reunies afin de tenir compte des caracteristiques inobservees specifiques a l'Etat. Les resultats obtenus demontrent dans quelle mesure les infrastructures qui se rapportent le plus etroitement a la methode de production ont un effet sensible et positif sur la productivite. Ils demontrent aussi l'importance de l'effet reseau des infrastructures du type productif ainsi qu'une baisse de l'elasticite associee a de telles infrastructures au fur et a mesure que le developpement progresse. MAS M., MAUDOS J., PEREZ F. und URIEL E. (1996) Infrastruktur und Produktivitat in den Regionen Spaniens, Reg. Studies 30, 641-649. Dieser Aufsatz hat es sich zum Ziel gesetzt, die Rolle von offentlichen Kapitalmitteln und Arten der Infrastrukturen, in denen sie investiert werden, zu analysieren, sowie deren gebietsweise Verteilung beim Anstieg der Produktivitat des Privatsektors der Regionen Spaniens im Zeitraum 1964-1991, wobei 'Panel' Datentechnik zur uberprufung unbeobachteter, dem Staate eigener charakteristischer Merkmale benutzt wird. Die sie erzielten Ergebnisse zeigen, wie die am engsten mit dem Produktionsprozess verknupften Infrastrukturen eine bedeutende und positive Wirkung auf die Produktionsleistung ausuben. Daruber hinaus zeigen sie sowohl die Bedeutung des Netzeffektes der produktionsorientierten Infrastrukturen auf als auch ein Nachlassen der Anpassungsfahigkeit, die bei fortschreitender Entwicklung mit solchen Infrastrukturen in Verbindung gebracht werden.Produktivitat, Infrastrukturen, Wirtschaftliche Entwicklung,
The paper analyses the relationships between three stock markets: New York, Tokyo and Frankfurt. The non-simultaneity of the trading times in these three markets determines the results of cross-correlations and regressions with daily returns. To cope with this and other problems, an empirical model is proposed and estimated. This model allows the separation of the ability to influence and the sensitivity of the different markets, and New York is found to be the most influential market, with Tokyo the most sensitive.International, Linkages, Stock, Markets, Transmission, Of, Movements,
The aim of this paper is to estimate an equation for household demand for both secondary and university education, using an estimation of the opportunity cost associated with the decision to invest in education. Limited dependent variable models are applied to the data provided by the Family Budget Survey 1991 for Spain. The results show that the social and economic status of the family has a comparatively greater impact on household expenditure on secondary education than on university education. The opportunity cost is also shown to be a decisive variable in the decision to invest in secondary education, although the results are less conclusive in the case of university education.
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