Using panel data for a cross-section of countries, the author estimates an aggregate production function that includes infrastructure capital. He finds that: 1) The productivity of physical and human capital is close to the levels suggested by microeconomic evidence on their private returns. 2) Electricity generating capacity and transportation networks have roughly the same marginal productivity as capital as a whole. 3) Telephone networks appear...
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INFORMATION
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1999/11/30
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Document de travail de recherche sur les politiques
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WPS2246
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1
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1
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2010/07/01
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Infrastructure's contribution to aggregate output
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production function