Aggregate infrastructure capital stock and long-run growth: Evidence from Finnish data

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Abstract

In this paper, Bayesian methods and the Finnish aggregate infrastructure capital series from 1860 to 2003 are used to explore how government infrastructure policy affects long-run output growth. We use Finnish data, since to the best of our knowledge the Finnish land and water construction investments series is the best available sufficiently long time series on aggregate infrastructure investments. The Finnish data provide strong and robust evidence indicating that permanent changes in government infrastructure policy have permanent effects on the growth rate of output.
Original languageEnglish
JournalJournal of Development Economics
Volume94
Issue number2
Pages (from-to)181-191
Number of pages11
ISSN0304-3878
DOIs
Publication statusPublished - 2011
MoE publication typeA1 Journal article-refereed

Fields of Science

  • 511 Economics

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