PUBLIC CAPITAL, REGIONAL OUTPUT, AND DEVELOPMENT: SOME EMPIRICAL EVIDENCE
通过构建州级公共资本数据，使用超越对数生产函数估计公共资本与区域产出的关系，发现劳动与公共资本互补且公共资本回报递减。
ABSTRACT The goal of our paper is to provide direct estimates of the association between public capital and regional output. This is made possible by the construction of a data series which measures public capital at the state level. The relation between public capital and other productive factors is tested using a translog production function. Our results show that labor and public capital are complementary inputs, and that public capital exhibited diminishing returns. We also consider restrictions on the translog formulation. Linear homogeneity is rejected in all cases, and the Cobb‐Douglas specification is rejected for the manufacturing and all sectors categories.