Regional infrastructure investment and efficiency
利用西班牙省级数据，研究发现道路网络改善对私人资本投资有正向影响，且该效应随地区经济发展水平提高而增强；同时，基础设施政策的分配目标会导致效率损失，且长期成本更高。
Using Spanish data, this paper shows that improvements in the road network have a positive effect on private investment in capital assets, and this effect increases with the level of economic development of a geographical area. We use aggregate data at the provincial level between the years 1977–2008. Additionally, we propose a system of equations in order to approximate the long-run effects. We find statistical evidence of efficiency loss associated with the distributional aims of the infrastructure policy. More importantly, since the effects of infrastructure investment are permanent, in the long run, efficiency costs will be higher.