Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/44841
Authors: 
Kamps, Christophe
Year of Publication: 
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

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