Multi-sectoral interdependencies of regional public infrastructure investments

Theodore Tsekeris

Socio-Economic Planning Sciences, 2014, vol. 48, issue 4, 263-272

Abstract: Public investment decision-making processes involve multiple and interrelated sectoral and regional policy objectives and budget constraints. This paper presents a dynamic spatio-economic model that considers multi-sectoral investment interdependencies using data at the prefecture level in Greece. The expenditure allocation dynamics of most types of regional public investment are found to be competitive with each other. This outcome is attributed to the lack of policy coordination, technological and budget constraints, geographical factors, and equity and political considerations. The investment interrelationships may have a significant effect on future state funding needs and the strategic assessment of infrastructure development at the country level.

Keywords: Public expenditure; Regional investment; Infrastructure planning; Policy coordination; Fiscal competition (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:soceps:v:48:y:2014:i:4:p:263-272

DOI: 10.1016/j.seps.2014.06.001

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