Public Capital Maintenance, Decentralization and U.s. Productivity Growth
Eugenia Vella () and
Sarantis Kalyvitis ()
No 1126, DEOS Working Papers from Athens University of Economics and Business
Data published by the U.S. Congressional Budget Office show that over the last fifty years expenditures for infrastructureÃƒÂ¢Ã¯Â¿Â½Ã¯Â¿Â½s operations and maintenance (O&M) have roughly equalled those for new capital. We use this dataset to investigate the productive impact of public infrastructure spending taking into account its composition for each government level. We find that a rise (fall) in infrastructure expenditures by states and localities (the federal government) would enhance future productivity growth and that the rise in state and local spending should mainly come from additional O&M outlays in the transport sector.
Keywords: capital; maintenance; fiscal decentralization; private productivity (search for similar items in EconPapers)
JEL-codes: E22 E62 H54 H76 (search for similar items in EconPapers)
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Forthcoming in Public Finance Review
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Journal Article: Public Capital Maintenance, Decentralization, and US Productivity Growth (2011)
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Persistent link: http://EconPapers.repec.org/RePEc:aue:wpaper:1126
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