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Public-sector capital and the productivity puzzle

Author: Douglas Holtz-Eakin; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, 1992.
Series: Working paper series (National Bureau of Economic Research), no. w4122.
Edition/Format:   eBook : Document : National government publication : EnglishView all editions and formats
Summary:
A number of studies have suggested a quantitatively important relationship between public-sector capital accumulation and private sector productivity, with the most compelling evidence derived from analyses of state-level data. Estimates herein of production functions that use standard techniques to control for unobserved, state-specific characteristics, however, reveal essentially no role for public-sector capital  Read more...
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Details

Material Type: Document, Government publication, National government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Douglas Holtz-Eakin; National Bureau of Economic Research.
OCLC Number: 72457615
Notes: "July 1992."
"This research was supported by National Science Foundation grant SES-8908458."
Description: 1 online resource.
Series Title: Working paper series (National Bureau of Economic Research), no. w4122.
Responsibility: Douglas Holtz-Eakin.

Abstract:

A number of studies have suggested a quantitatively important relationship between public-sector capital accumulation and private sector productivity, with the most compelling evidence derived from analyses of state-level data. Estimates herein of production functions that use standard techniques to control for unobserved, state-specific characteristics, however, reveal essentially no role for public-sector capital in affecting private sector productivity. Only estimates of state production functions that do not include such controls find substantial productivity impacts. This result reconciles existing econometric estimates with the findings of Hulten and Schwab based on growth accounting techniques, as such techniques effectively control for state-specific effects. Region-level estimates are essentially identical to those from state data, suggesting no quantitatively important spillover effects across states.

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