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Transport infrastructure investment: implications for growth and productivity

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Crafts, N. F. R. (2009) Transport infrastructure investment: implications for growth and productivity. Oxford Review of Economic Policy, Vol.25 (No.3). pp. 327-343. doi:10.1093/oxrep/grp021

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Official URL: http://dx.doi.org/10.1093/oxrep/grp021

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Abstract

Theory and evidence on the effects of public investment on growth and productivity are reviewed. It is concluded that, on average, public capital has positive impacts on output and private investment, partly offset by the effects of the taxation needed to finance it. A possible future shortfall in public capital in the UK is highlighted. The paper also reviews the contribution of transport infrastructure to productivity and considers implications for cost-benefit analysis. It is suggested that there is a case for greater UK investment in roads but, ideally, this should be implemented along with an efficient national road-pricing scheme.

Item Type: Journal Article
Subjects: H Social Sciences > HC Economic History and Conditions
Divisions: Faculty of Social Sciences > Economics
Journal or Publication Title: Oxford Review of Economic Policy
Publisher: Oxford University Press
ISSN: 0266-903X
Official Date: 2009
Dates:
DateEvent
2009Published
Volume: Vol.25
Number: No.3
Number of Pages: 17
Page Range: pp. 327-343
DOI: 10.1093/oxrep/grp021
Status: Peer Reviewed
Publication Status: Published
Access rights to Published version: Restricted or Subscription Access

Data sourced from Thomson Reuters' Web of Knowledge

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