### Abstract

Original language | English |
---|---|

Place of Publication | Tilburg |

Publisher | Macroeconomics |

Number of pages | 47 |

Volume | 2008-10 |

Publication status | Published - 2008 |

### Publication series

Name | CentER Discussion Paper |
---|---|

Volume | 2008-10 |

### Fingerprint

### Keywords

- public capital
- infrastructure
- public investment
- meta-analysis
- meta-regression analysis
- publication bias

### Cite this

*How Productive is Public Capital? A Meta-Analysis*. (CentER Discussion Paper; Vol. 2008-10). Tilburg: Macroeconomics.

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**How Productive is Public Capital? A Meta-Analysis.** / Duarte Bom, P.R.; Ligthart, J.E.

Research output: Working paper › Discussion paper › Other research output

TY - UNPB

T1 - How Productive is Public Capital? A Meta-Analysis

AU - Duarte Bom, P.R.

AU - Ligthart, J.E.

N1 - Pagination: 47

PY - 2008

Y1 - 2008

N2 - The paper analyzes the contribution of public capital to private output using several metaanalytical techniques. Both fixed and random effects models are estimated by Weighted Least Squares. Sample overlap across studies is explicitly controlled for by employing a `full' Generalized Least Squares estimator. The weighted average output elasticity of public capital amounts to 0.08 after correcting for publication bias. A substantial part of the heterogeneity across studies is explained by study design parameters, such as econometric specification, estimation technique, empirical model, type of public capital, and level of aggregation of public capital data. The large elasticities of public capital found in the early literature seem to be caused by either unidentified (but present) cointegrating relationships or spurious relationships in national time series.

AB - The paper analyzes the contribution of public capital to private output using several metaanalytical techniques. Both fixed and random effects models are estimated by Weighted Least Squares. Sample overlap across studies is explicitly controlled for by employing a `full' Generalized Least Squares estimator. The weighted average output elasticity of public capital amounts to 0.08 after correcting for publication bias. A substantial part of the heterogeneity across studies is explained by study design parameters, such as econometric specification, estimation technique, empirical model, type of public capital, and level of aggregation of public capital data. The large elasticities of public capital found in the early literature seem to be caused by either unidentified (but present) cointegrating relationships or spurious relationships in national time series.

KW - public capital

KW - infrastructure

KW - public investment

KW - meta-analysis

KW - meta-regression analysis

KW - publication bias

M3 - Discussion paper

VL - 2008-10

T3 - CentER Discussion Paper

BT - How Productive is Public Capital? A Meta-Analysis

PB - Macroeconomics

CY - Tilburg

ER -