Regional allocation of public infrastructure investment: The case of Greece
Yannis Psycharis and
Regional Studies, 2005, vol. 39, issue 9, 1231-1244
Lambrinidis M., Psycharis Y. and Rovolis A. (2005) Regional allocation of public infrastructure investment: the case of Greece, Regional Studies 39 , 1231-1244. This paper develops a model on the determinants of the regional allocation of public infrastructure investment and applies it to Greece for 1982-94 using panel methods of estimation. The principal conclusions are that regional allocations of infrastructure investment (1) were negatively associated with regional product per capita as well as with population size and population density, (2) were positively associated with the existing stock of infrastructure capital as well as with the share of agriculture in regional Gross Domestic Product, and (3) were increased across prefectures in years preceding national elections. These results are related to national and European regional policy.
Keywords: Infrastructure; Public investment; Regional economics; Regional policy; Political business cycle; Equipement; Investissement collectif; Economie regionale; Politique regionale; Cycle economique politique; Infrastruktur; Offentliche Investierungen; Regionalwirtschaft; Regionalpolitik; Politischer Geschaftszyklus; Infraestructura; Inversion publica; Economia regional; Politica regional; Ciclo politico de empresas; JEL classifications: H54; R53; R58 (search for similar items in EconPapers)
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