The long run effects of public capital on the Spanish private economy: A VAR approach
This article provides estimates of the effects of public capital on the private sector in Spain using new capital series for the period 1964-2004. Long-run elasticities are estimated using vector autoregressive models for four main productive sectors (Agriculture, Manufactures, Construction and Private Services), and a composite aggregate series. The aggregate results indicate that public policies directed to accumulate public capital have a positive effect on private output and capital, but a negative impact on employment. These results, however, hide important differences among sectors. Estimates obtained for shorter sample periods throw results quite different to those obtained in previous studies.
ALVAREZ MARTINEZ Maria Teresa;
POLO Clemente;
2017-10-09
Thomson Reuters (Legal) Limited
JRC103966
978-84-9152-676-6,
https://www.thomsonreuters.es/es/tienda/pdp/ebook_-_proview.html?pid=10009899#,
https://publications.jrc.ec.europa.eu/repository/handle/JRC103966,
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