How are Investments Allocated in a Publicly Owned Port System? Political Factors versus Economic Criteria
José I. Castillo-Manzano and
Regional Studies, 2014, vol. 48, issue 7, 1279-1294
Castillo-Manzano J. I. and Fageda X. How are investments allocated in a publicly owned port system? Political factors versus economic criteria, Regional Studies . This paper estimates the determinants of investments in port infrastructure in the Spanish regions made by the central administration. It is found that the use of the infrastructure in relation to capacity has some influence on the amount of investment received by a region. Furthermore, specialization in containers is also relevant for receiving more resources. However, it is found that when greater political decentralization does not go hand in hand with greater financial decentralization, the importance of tactical political aspects increases. Overall, efficiency plays a more relevant role in the regional allocation of investments in ports than in other transport infrastructures.
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