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Public investment in transportation infrastructures and regional asymmetries in Portugal
Ist Teil von
The Annals of regional science, 2006-12, Vol.40 (4), p.803-817
Ort / Verlag
Berlin: Springer
Erscheinungsjahr
2006
Link zum Volltext
Quelle
PAIS Index
Beschreibungen/Notizen
The objective of this paper is to investigate the regional incidence of the effects of public investment in transportation infrastructures in Portugal. Our methodological approach consists of estimating vector autoregressive (VAR) models for the national economy as well as for each of the five administrative regions in the country. In the regional models, both public investment in transportation infrastructures in the region and public investment in transportation infrastructures elsewhere are considered, thereby taking into consideration the potential existence of regional spillovers. Empirical results suggest that although public investment in transportation infrastructures has been a powerful instrument to promote long-term growth, it does so in a way that is rather unbalanced across regions. We show that public investment in transportation infrastructures has markedly contributed to the concentration of economic activity in Lisbon, the largest region in the country, and therefore has contributed markedly to the macrocephaly of the country. [PUBLICATION ABSTRACT]