Infrastructure and growth: A survey of macro-econometric research

Timo Valila

Structural Change and Economic Dynamics, 2020, vol. 53, issue C, 39-49

Abstract: The voluminous macro-econometric research on the link between infrastructure and growth over the past decades has been inconclusive. The heterogeneity of empirical results can be attributed in part to obvious differences in measuring the variables of interest and in specifying and estimating the empirical model. However, macro-econometric analyses of the nexus between infrastructure and growth are also prone to model inaccuracy, caused by the fact that infrastructure is by its very nature a difficult object for empirical study. This paper analyses the particular theoretical and empirical characteristics of infrastructure that lead to model inaccuracy, and it assesses whether this line of empirical research is doomed to inconclusiveness.

Keywords: Infrastructure; Growth; Econometrics; Model inaccuracy (search for similar items in EconPapers)
JEL-codes: C52 H54 O47 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:streco:v:53:y:2020:i:c:p:39-49

DOI: 10.1016/j.strueco.2020.01.007

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