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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 ISSN 0266-903X.
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Official URL: http://dx.doi.org/10.1093/oxrep/grp021
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: |
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| 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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