Determinants of State Infrastructure Spending: Testing Punctuated Equilibrium and Social Vulnerability Theories
基于美国50个州17年的面板数据，研究发现灾害事件和社会脆弱性因素影响州政府在道路和公交系统上的支出，但影响因基础设施类别而异。
Subnational U.S. governments retain the primary responsibility of constructing and preserving the public infrastructure that connects communities and businesses, enhances public service delivery, and promotes economic development in their jurisdiction. Drawing from punctuated equilibrium and social vulnerability theories for context, the present study investigates the determinants of state infrastructure spending, specifically roads and highways and transit systems. It utilizes balanced panel data on 50 U.S. states over 17 time periods and fixed-effects regressions with year dummies in its investigation. Evidence shows that state infrastructure spending is influenced by disaster events as well as social vulnerability factors. However, the effects of disasters and social vulnerability factors on state infrastructure spending depend on the infrastructure categories, suggesting that the determinants are more nuanced than extant studies indicate.