Infrastructures, investissement et croissance: un bilan de dix années de recherches

Marie-Ange Véganzonès

No 200007, Working Papers from CERDI

Abstract: In this article, we present an overview of the theoretical and empirical literature on infrastructures and growth. We review the different approaches of this link, starting from the earlier themes of the Big Push and of exogenous growth, to the recent renewal of growth theories and of spatial spillover models. We assess the empirical estimates of these various models, using the production and the cost function approach, as well as the conditional convergence framework and the link between infrastructures, investment and growth. We present a theoretical model of this last link, which is estimated on panel data on a sample of 87 countries using the three stages least squares method. We highlight two channels of transmission of the role of infrastructures: a first one through production capacities which shows a complementarity between public and private investment, and another one through total factor productivity. The estimates are based on an aggregate indicator of infrastructures constructed from the principal component analysis of various physical social and financial indicators.

Keywords: Economic growth; Investment; Infrastructure; Survey; Macro-economic modelisation; panel data estimation (search for similar items in EconPapers)
Pages: 49
Date: 2000
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