The Effect of Public Infrastructure on the Private Productive Sector of Spanish Regions
研究了1980-1993年西班牙地区公共基础设施对私人部门成本和生产率的影响，发现公共资本显著提升了生产率并降低了成本，但实际与最优水平仍有差距，长期看公共资本能促进私人投资。
In this paper we analyze the effect of infrastructure on the cost and productivity performance of the private productive sector of Spanish regions over the period 1980–1993. We use a dual approach based on cost functions that allows us to recover the usual parameters estimated with production functions. In addition, we obtain rates of return and cost elasticities of production factors at the regional level. Our framework explicitly considers that some factors are quasi‐fixed and their volume can differ from their optimal endowment levels. Our results indicate that the public sector has contributed significantly to enhance productivity and reduce costs in the private sector of almost every Spanish region. Nevertheless, there is still scope for the government to continue its investment efforts, given that there remains an appreciable gap between observed and optimal public capital, and we find that in the long run, public capital promotes private investment.