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Title:Is there a lack of public capital in the European Union? PDF Logo
Authors:Kamps, Christophe
Issue Date:2005
Citation:[Journal:] EIB Papers [ISSN:] 0257-7755 [Volume:] 10 [Year:] 2005 [Issue:] 1 [Pages:] 73-93
Abstract:This paper investigates whether there is a lack of public capital in European Union countries. The analysis builds on a new database providing internationally comparable capital stock estimates for 22 OECD countries, among these 14 EU countries, for the period 1960-2001. A simple model of endogenous growth is used in order to highlight the inherently nonlinear relationship between public capital and economic growth and to derive a measure of the growth-maximising public capital stock. Against this background, the empirical analysis provides estimates of the growth-maximising level of public capital for EU countries. The empirical results suggest that there currently is no lack of public capital in most 'old' EU countries.
Document Type:Article
Appears in Collections:EIB Papers, European Investment Bank (EIB)

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