Network effects of public transport infrastructure: evidence on Italian regions

Valter Di Giacinto, Giacinto Micucci () and Pasqualino Montanaro ()
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Giacinto Micucci: Bank of Italy
Pasqualino Montanaro: Bank of Italy JEL classification: C32, E61, H54, R42, R53

No 869, Temi di discussione (Economic working papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: This paper contributes to the empirical literature on the magnitude of the network effects of public infrastructures, introducing a novel approach. After estimating the dynamics common to time series for the regional public capital stock, coordinated policy shocks are identified within a properly specified structural VEC model. The findings confirm previous evidence that transport infrastructures exert positive macroeconomic effects in the long run. At the same time, it is shown that this effect is attributable mostly to the impact of coordinated public policy shocks, as the literature on network externalities predicts.

Keywords: public capital; transport infrastructure; public policy coordination; network externalities; VEC model. (search for similar items in EconPapers)
Date: 2012-07
New Economics Papers: this item is included in nep-geo, nep-net, nep-tre and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Journal Article: Network effects of public transport infrastructure: Evidence on Italian regions (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:wptemi:td_869_12

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