The Dynamic Macroeconomic Effects of Public Capital: Theory and Evidence for OECD Countries

This book analyzes the dynamic macroeconomic effects of public capital in industrialized countries. The issue of whether public capital is productive has received a great deal of recent attention. Yet, existing empirical analyses have been limited to a small set of countries. This book presents a new database that provides internationally comparable capital sk estimates for 22 OECD countries for the 1960-2001 period. Building on this database, the book estimates the dynamic effects of publi...