On the economic and fiscal effects of infrastructure investment in Brazil

Pedro Ferreira and Carlos Hamilton Vasconcelos Araújo

No 613, FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) from EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil)

Abstract: This article studies the productive impact of infrastructure investment in Brazil. Public-capital expenditures in the country have decreased continuously over the last two decades, and this paper shows the significant impact this has had on infrastructure stocks. Cointegration analysis is used to investigate the long-run association between output and infrastructure, the results being then used to study the short-run dynamic of these variables. Whether in the short or long run, the productive impact of infrastructure was found to be relevant. Other group of simulations studies the impact of expanding capital expenditures through debt finance on debt to GDP ratio as well as on public cash áow and net worth.

Date: 2006-03-01
New Economics Papers: this item is included in nep-dev, nep-lam, nep-mac and nep-pbe
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Citations: View citations in EconPapers (10)

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Persistent link: https://EconPapers.repec.org/RePEc:fgv:epgewp:613

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