Public Capital and Output Growth in Portugal: An Empirical Analysis

Ligthart, Jenny E.

doi:10.5089/9781451842777.001

Cited by 42 publications

(43 citation statements)

References 36 publications

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“…These stocks have been constructed using the Perpetual Inventory Methodology (PIM) as recommended by OECD (2001) and the US Bureau of Economic Analysis (1999). PIM approach has been widely used in the literature (see Lighthart, 2000;Kamps, 2003 among others) and in fact computes the value of the capital stock by accumulating past purchases of assets over their estimated service lives appropriately adjusted for the rate of depreciation. Non-transport is equivalent to total public capital minus transport capital.…”

Section: Quality Of Infrastructurementioning

confidence: 99%

Transport infrastructure and foreign direct investment

Khadaroo

Seetanah

2008

J of Intl Development

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This paper analyses the role of infrastructure availability, particularly with respect to transportation, in improving the investment climate for and in determining the attractiveness of foreign direct investment (FDI) inflows. The study is initially based on the small island developing state of Mauritius for the period 1960-2004. Using an ARDL approach, transport infrastructure availability is seen to have contributed to the relative attractiveness of the country towards FDI and such is also the case for non-transport infrastructure. Moreover, the presence of dynamism and endogeneity is also established in FDI modelling. The analysis was then extended for the case of a sample of 20 African economies over the period 1986-2000. Using panel data framework, the fixed effect model estimated a positive and significant coefficient for transport infrastructure, implying that foreign direct investors are sensitive to transport capital. The other type of infrastructure is also judged to be important by these investors, though to a slightly lesser extent than transport. These findings supplement the existing literature on the determinant of FDI. Copyright © 2008 John Wiley & Sons, Ltd.

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Section: Quality Of Infrastructurementioning

confidence: 99%

Transport infrastructure and foreign direct investment

Khadaroo

Seetanah

2008

J of Intl Development

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“…27 This study concentrates on the production function approach because it is the simplest of the three and because it remains widely applied in the empirical literature. Even recent studies relying on the less restrictive VAR approach often provide additional estimates according to the production function approach as a benchmark against which to evaluate the VAR results (Ligthart, 2002). Thus, there is ample evidence against which the regression results of this study can be evaluated.…”

Section: Evidence For the Production Function Approachmentioning

confidence: 99%

New Estimates of Government Net Capital Stocks for 22 OECD Countries 1960-2001

2004

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“…Infrastructure affects many different industries and needs are determined by contextual factors such as level of urbanization and structure of the economy and both physical and climatic geography play a significant role with different impacts between countries at various stages of development. Evidence confirms that investment in transport services, energy and telecommunications generate highest returns in developing and transitional economies, Ligthart [60].…”

Section: Infrastructure Investment and Economic Growthmentioning

confidence: 83%

Capital Markets, Infrastructure Investment and Growth in the Asia Pacific Region

Regan

2017

IJFS

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This paper examines the relationship between infrastructure investment activity, capital market development, the role of public institutions and economic development in the Asia Pacific. It adopts a review approach drawing on empirical evidence over recent decades. Infrastructure is shown to be an important asset class playing a central role in a nation's output, growth, productivity and microeconomic performance. Infrastructure investment also requires investment and predictions of a widening gap in the future supply of infrastructure in the Asia Pacific will require new forms of capital from both traditional and new sources including wider use of private participation, institutional investment, asset recycling and revenue bonds. Capital market development is also necessary to raise long-term local currency finance and evidence suggests that progress with regional capital market integration is slow and a continuing reform agenda is required. The dividend for regional countries is the prospect of higher levels of economic growth with infrastructure investment, capital market development, and foreign direct investment shown to have a strong and positive association with growth. A crucial link in this association identified in the review is the part played by national and regional institutions in improving the efficiency with which infrastructure is managed and providing promising ground for further research where the importance of these links can be researched in greater depth.

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Public Capital and Output Growth in Portugal: An Empirical Analysis

Abstract: This is a Working Paper and the author(s) would welcome any comments on the present text. Citations should refer to a Working Paper of the IntemationalMonelaryFund The views expressed are those of the author(s) and do not necessarily represent those of the Fund.

Cited by 42 publications

References 36 publications

Transport infrastructure and foreign direct investment

Transport infrastructure and foreign direct investment

New Estimates of Government Net Capital Stocks for 22 OECD Countries 1960-2001

Capital Markets, Infrastructure Investment and Growth in the Asia Pacific Region

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