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| Author: | Fernald, J. |
| Title: | Roads to prosperity? Assessing the link between public capital and productivity |
| Journal: | American Economic Review
1999 : JUN, VOL. 89:3, p. 619-638 |
| Index terms: | ECONOMICS PRODUCTIVITY CAPITAL |
| Language: | eng |
| Abstract: | Does the positive correlation between infrastructure and productivity reflect causation? If so, in which direction? The author finds that when growth in roads (the largest component of infrastructure) changes, productivity growth changes disproportionately in U.S. industries with more vehicles. That vehicle-intensive industries benefit more from road-building suggests that roads are productive. At the margin, however, road investments do not appear unusually productive. |
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