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Estimating Productivity of Public Infrastructure Investment

来源:湖南大学经济与管理研究中心 日期:2018-10-11 作者:

间:Oct.12th (Friday), 16:15-17:30PM


点:Room 206, Shuishang Teaching Building


题:Estimating Productivity of Public Infrastructure Investment


主讲人:Zhifeng Wang

Assistant Professor of CEFMS


要:The productivity effect of public infrastructure investment is controversial in the traditional literature using aggregate production function estimation, mainly due to reverse causality. This paper develops a new approach, using a model of endogenous productivity in a firm-level production function, and matching Chinese firm-level production data with province-level infrastructure data. The estimated rates of return are about 6% averaged from 1999 to 2007. The returns triple if national-level spillover effects are taken into account. Controlling the demand effect of public expenditure leads to lower but still positive returns. Firm-level evidences are consistent with a mechanism in which public infrastructure investment facilitates resource reallocation from less to more productive firms.



报告人简介:

Dr. Zhifeng Wang joined the Center for Economics, Finance and Management Studies at Hunan University in Fall 2018. Now he is a tenure track Assistant Professor in the Economics Institute. Zhifeng earned his Ph.D. from Nanyang Technological University, Singapore, 2018 . His research interests are Development Economics, International Trade.


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