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Building Infrastructure to Accomodate Growth

Leon Taylor ()

Eastern Economic Journal, 1991, vol. 17, issue 4, 473-481

Abstract: Do jurisdictions spend too little on infrastructure? To answer the question, one must separate infrastructure built to accommodate growth from infrastructure built to compete for growth. Underspending is most likely for accommodative infrastructure. This paper finds that the accommodative spending path that maximizes utility is also the path leading to an equilibrium. Empirical data that suggest an equilibrium would cast doubt upon the underspending hypothesis. The paper also compares accommodative spending to competitive spending and develops an empirical test of their relative importance.

Keywords: Infrastructure (search for similar items in EconPapers)
JEL-codes: H54 (search for similar items in EconPapers)
Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:eej:eeconj:v:17:y:1991:i:4:p:473-481

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Eastern Economic Journal is currently edited by Cynthia A. Bansak, St. Lawrence University and Allan A. Zebedee, Clarkson University

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