The Effects of Public Capital on the Growth in Spanish Productivity |
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| Authors: | Melchor Fernández Víctor M Montuenga-Gómez |
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| Institution: | Lecturer, Universidade de Santiago de Compostela, Departamento de Fundamentos da Análise Económica, Facultade de Ciencias Económicas e Empresariais, Avenida Xoan XXIII s/n 15704, Santiago de Compostela (La Coruña) Spain. Phone +34 981 563100, ext. 11551, Fax +34 981547134, E-mail;Lecturer, University of La Rioja, Departamento de Economía y Empresa, Edificio Quintiliano, C/ La Cigüeña, no. 60. 26004 Logroño (La Rioja) Spain. Phone +34 941 299373, Fax +34 941 299393, E-mail |
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| Abstract: | The aim of the article is to provide new evidence concerning the effect of public capital on productivity growth in Spain. To this end, the article follows the growth accounting approach, which, in addition to measuring both the direct and indirect effects of public capital on the total factor productivity, allows for assessing whether there is a distinctive impact of public capital across economic sectors. The results lead to three main conclusions: (1) Public capital has a strong influence on growth when we use data from the whole economy; (2) this influence varies across sectors, being more relevant in the exposed sectors (industry) than in sheltered sectors (agriculture, construction, and services); and (3) irrespective of the definition used for public capital, these basic results remain unchanged. (JEL C30 , E62 , H54 , O47 , O52 ) |
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