International Aspects of Public Infrastructure Investment

Panicos Demetriades
Authors registered in the RePEc Author Service: Edgar Morgenroth

No 8-98, CIBS Research Papers in International Business from London South Bank University CIBS

Abstract: Modelling infrastructure as an international public good in a two country model of trade where each country's social planner behaves strategically, we show that the equilibrium levels of infrastructure are sub-optimal from a global perspective. Utilising an appropriate econometric framework and data from 14 countries over the period 1971-90, we find evidence that accords well with the main predictions of our theory. Thus, we are able to offer a plausible theoretical explanation why public capital may be under-supplied, as suggested by previous empirical literature.

Keywords: public; infrastructure; investment (search for similar items in EconPapers)
JEL-codes: F10 F42 H42 (search for similar items in EconPapers)
Pages: 37 pages
Date: 1998
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Related works:
Journal Article: International aspects of public infrastructure investment (2003)
Journal Article: International aspects of public infrastructure investment (2003)
Working Paper: International Aspects of Public Infrastructure Investment (2001)
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