Infrastructure and Growth in South Africa : Direct and Indirect Productivity Impacts of 19 Infrastructure Measures

• Tác giả: J. W Fedderke
• Ngôn ngữ: eng
• Ký hiệu phân loại: 338.9 Economic development and growth
• Thông tin xuất bản: 2012
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 301778
• Chủ đề: 1. Industrialization; 2. Industry Studies: Manufacturing: General L600; 3. Manufacturing and Service Industries; 4. National Government Expenditures and Related Policies: Infrastructures; 5. Other Public Investment and Capital Stock H540

Tóm tắt

Empirical explorations of the growth and aggregate productivity impacts of infrastructure have been characterized by ambiguous (countervailing signs) results with little robustness. This paper, utilizing panel data for South African manufacturing over the 1970-2000 period, and a range of 19 infrastructure measures, explores the question of infrastructure endogeneity in output equations. The paper develops an instrumentation strategy generalizable to other contexts. Controlling for the possibility of endogeneity in the infrastructure measures renders the impact of infrastructure capital not only positive, but of economically meaningful magnitudes.