IS PUBLIC EXPENDITURE PRODUCTIVE?

This paper considers the relationship between aggregate productivity and stock and flow government-spending variables. The empirical results indicate that (i) the nonmilitary public capital stock is dramatically more important in determining productivity than is either the flow of nonmilitary or military spending, (ii) military capital bears little relation to productivity, and (iii) a "core" infrastructure of streets, highways, airports, mass transit, sewers, water systems, etc., has most explanatory power for productivity. The paper also suggests an important role for the new public capital stock in the "productivity slowdown" of the last fifteen years.

• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/issn/03043932
• Corporate Authors:

  Elsevier

  Radarweg 29
  Amsterdam,   Netherlands  1043 NX
• Authors:
  • Aschauer, D A
• Publication Date: 1989

Media Info

• Features: Figures; References; Tables;
• Pagination: p. 177-200
• Serial:
  • Journal of Monetary Economics
  • Volume: 23
  • Publisher: Elsevier
  • ISSN: 0304-3932

Subject/Index Terms

• TRT Terms: Airports; Expenditures; Federal government; Financial capital; Governments; Highways; Infrastructure; Military organizations; Productivity; Public transit; Sewers; Stocks; Streets; Water supply structures
• Uncontrolled Terms: Military
• Geographic Terms: United States
• Old TRIS Terms: Nonmilitary; Water supply systems
• Subject Areas: Aviation; Economics; Finance; Highways; Public Transportation; Society; Terminals and Facilities; I10: Economics and Administration;

Filing Info

• Accession Number: 00486073
• Record Type: Publication
• Files: TRIS
• Created Date: Aug 31 1989 12:00AM