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On the productivity effects of public capital maintenance : evidence from U.S. States
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1830-7728
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EUI MWP; 2014/04
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KALYVITIS, Sarantis, VELLA, Eugenia, On the productivity effects of public capital maintenance : evidence from U.S. States, EUI MWP, 2014/04 - https://hdl.handle.net/1814/31331
Abstract
This paper assesses the productivity effects of infrastructure's operations and maintenance (O&M) spending by state and local governments in the 48 contiguous U.S. states over the period 1978-2000. We explicitly account for transboundary spillovers of capital and O&M spending and follow a semiparametric methodology that allows us to estimate state-specific output elasticities. We find strong evidence that in all 48 states the cross-state spillover effects of O&M outlays on productivity exceed their within-state impacts and are substantially higher than the spillover effects of capital expenditures.