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Economic performance and public infrastructure: an application to Greek manufacturing
journal contribution
posted on 2023-06-08, 12:02 authored by Emmanuel Constantine MamatzakisTo comprehend the impact of public infrastructure on economic performance this paper provides a measure of productivity growth as derived from duality theory. This productivity growth is decomposed into the components of technical change, returns to scale and the effects of public infrastructure, the variable of our interest. In an application, we opt for Greek manufacturing so as to investigate whether the decline in its growth rate is partly explained by public infrastructure. Despite some variation in the estimation results of shadow shares across industries, public infrastructure asserts a cost saving effect in most industries, though it also appears that traditional labour-intensive industries with lower level of technological advancement do not benefit from the provision of public infrastructure. The estimation results further demonstrate that while public infrastructure enhanced productivity growth over the sample period for most industries, low infrastructure investment in the 1970s and the 1980s undermined productivity growth.
History
Publication status
- Published
Journal
Bulletin of Economic ResearchISSN
0307-3378Publisher
Blackwell PublishingExternal DOI
Issue
3Volume
60Page range
307-326Department affiliated with
- Business and Management Publications
Full text available
- No
Peer reviewed?
- Yes
Legacy Posted Date
2012-07-03Usage metrics
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