Is public infrastructure productive? A metropolitan perspective using new capital stock estimates

Crihfield, John B.; Panggabean, Martin P.H.

doi:10.1016/0166-0462(95)02087-b

Cited by 52 publications

(24 citation statements)

References 8 publications

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“…This may be because, at current levels of public capital, the marginal product of public investment (net of foregone private investments) is relatively low or even negative. These findings are consistent with those of Crihfield and Panggabean (1995aand 1995b) and others (e.g., Holtz-Eakin, 1991Hulten and Schwab, 1991;Tatom, 1991;and Garcia-Mila, McGuire, and Porter, 19931, who use different data and modeling techniques in their evaluations of public investments in economic de~elopment.~ 'Another study (Crihfield and Panggabean, 1995b) tests many measures of state and local public capital in the context of a neoclassical metropolitan growth model. Some of these capital stock measures are metropolitan-area specific and are not derived from state estimates.…”

Section: The Role Of Public Capitalsupporting

confidence: 82%

The Long‐run Economic Impacts of Federal, State, and Local Fiscal Policies in Metropolitan Areas*

Crihfield

Panggabean²

1996

Journal of Regional Science

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This paper uses new estimates of metropolitan factor demand and output supply functions to study how federal, state, and local fiscal policies affect metropolitan economies. We illustrate our work with findings for ten metropolitan areas in five states for changes in state corporate income taxes, local property taxes, the federal corporate income tax, an investment tax credit, interest rates, public capital stocks, output prices, and tax and regulatory policies affecting gross wages. It is clear from these simulations that a policy that is nominally the same everywhere will have repercussions that vary widely across regions and cities. INTRODUCTIONIn a recent study we estimated structures of metropolitan factor and product markets over a twenty-year period (Crihfield and Panggabean, 1996). This study used data that are among the most comprehensive and disaggregated ever assembled for analyzing metropolitan economies. The current paper uses findings from this earlier work as a starting point to analyze how federal, state, and local fiscal policies affect metropolitan economies.'There are many econometric studies that investigate how taxes and other policies affect local economies.' However, most of these studies say little about how a specific policy might affect a particular metropolitan area. We accomplish this using metropolitan data and a flexible estimating strategy that generate market elasticities that vary by place.It is not practical to present results for all metropolitan areas in our sample. Consequently, we illustrate our work with findings for ten metropolitan areas in

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Section: The Role Of Public Capitalsupporting

confidence: 82%

The Long‐run Economic Impacts of Federal, State, and Local Fiscal Policies in Metropolitan Areas*

Crihfield

Panggabean²

1996

Journal of Regional Science

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“…Jones (1990) and Mofidi and Stone (1990) show that highway spending per capita has positive impact on these measures, whereas Reynolds and Maki (1990) fail to find it. Singletary et al (1995), Crihfield and Panggabean (1995), Garcia-Mila et al (1996) and Fernald (1999) all show that increases in resources allocated to highways cause employment in the manufacturing industry to rise, leading to productivity growth. Berndt and Hansson (1992), Lynde and Richmond (1993), Seitz (1993), Nadiri and Mamuneas (1994), Conrad and Seitz (1994) and Boarnet (1996;1998) use "cost function approach" for the investigation of the relationship between transport measures and development for Sweden, United Kingdom, West Germany and USA.…”

Section: Introductionmentioning

confidence: 99%

Granger-causality between transportation and GDP: A panel data approach

Beyzatlar

Karacal

Yetkiner

2014

Transportation Research Part A: Policy and Practice

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. The Granger-Causality between Transportation and GDP: A Terms of use: Documents in Panel Data Approach AbstractThis study investigates the Granger-causality relationship between real per capita GDP and transportation of EU-15 countries using a panel data set covering the period 1970-2008. Our findings indicate that the dominant type of Granger-causality is bidirectional. Accordingly, we conclude that care must be paid in defining the dependent and independent variables when studying the relationship between transportation and income. Instances of one-way or no Granger-causality were found to correspond with countries with the lowest income per capita ranks in 1970 and/or in 2008, including Portugal, Greece and Italy. We speculate that bi-directional Granger causality between income and transportation is observed only after an economy has completed its transition in terms of economic development.

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“…There is little issue that telecommunications, like energy or transportation, is essential to effective business operations. However, studies have failed to demonstrate that higher levels of telecommunications infrastructure will stimulate greater economic activity, particularly analyses that compare U.S. states or metropolitan areas (Crihfield & Panggabean, 1995;Holtz-Eakin et al, 1995). The degree of variation among areas in the United States (which are for the most part, already at a fairly high level of investment) may be so much smaller than among developing countries that random fluctuations affect the relationship between infrastructure and economic growth in the United States.…”

Section: Resultsmentioning

confidence: 95%

Regulatory Reform and the Promise of New Telecommunications Infrastructure in New Jersey

Youtie¹

1996

The Information Society

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Is public infrastructure productive? A metropolitan perspective using new capital stock estimates

Cited by 52 publications

References 8 publications

The Long‐run Economic Impacts of Federal, State, and Local Fiscal Policies in Metropolitan Areas*

The Long‐run Economic Impacts of Federal, State, and Local Fiscal Policies in Metropolitan Areas*

Granger-causality between transportation and GDP: A panel data approach

Regulatory Reform and the Promise of New Telecommunications Infrastructure in New Jersey

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