@article{Vanhoudt2000productive,
abstract = {Economists agree at least on this: it is difficult to find evidence for, or merely to imagine any growth mechanism that does not work through the increase of a stock of capital in one way or another. From a more policy point of view - in particular in terms of the debate of economic development and convergence in standards of living - an important question then is when spending on investment is best done by the government itself, and when public funds should be used to support investment by the private sector. A key concept in this issue is the degree of external benefits, or spillovers, of investment. These notions refer to the fact that sometimes a certain action by an economic agent results indirectly in productivity gains for others that cannot be completely captured by the principal investor in his price setting behaviour.},
author = {Patrick Vanhoudt and Thomas Math\"{a} and Bert Schmid},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
issn = {0257-7755},
journal = {EIB Papers},
keywords = {330; Investition; \"{O}ffentliche Investition; Produktivit\"{a}t; Regionale Disparit\"{a}t; Humankapital; Faktormobilit\"{a}t; Entwicklungskonvergenz; EU-Staaten},
language = {eng},
number = {2},
pages = {81-106},
title = {How productive are capital investments in Europe?},
url = {http://hdl.handle.net/10419/44797},
volume = {5},
year = {2000}
}
