search query: @author Justman, M. / total: 5
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| Author: | Justman, M. |
| Title: | Infrastructure, growth and the two dimensions of industrial policy |
| Journal: | Review of Economic Studies
1995 : JAN, VOL. 62(1):210, p. 131-158 |
| Index terms: | ECONOMICS GROWTH INDUSTRIAL POLICY |
| Language: | eng |
| Abstract: | When sustained growth depends on establishing an indivisible infrastructure for directly productive activities both discrete and marginal departures from optimal growth can undermine the dynamic efficiency of the market. Producers' anticipations of paying monopoly fees for infrastructure services dampen their incentive to invest in directly productive activities and may prevent the economy from reaching a minimal level of activity that would justify investment in a large indivisible infrastructure. |
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