Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/235836 
Year of Publication: 
2017
Citation: 
[Journal:] REGION [ISSN:] 2409-5370 [Volume:] 4 [Issue:] 1 [Publisher:] European Regional Science Association (ERSA) [Place:] Louvain-la-Neuve [Year:] 2017 [Pages:] 129-146
Publisher: 
European Regional Science Association (ERSA), Louvain-la-Neuve
Abstract: 
The estimation of the impact of public investment on regional economic growth requires consideration of the spatio-temporal dynamics among the state variables of each region. Recent austerity policies in Spain that feature temporary decreases in the accumulation of regional public capital should thus be evaluated in terms of their impact on the economy as a whole, on specific regions together with the spillovers effects from one region to the rest of the regional system. Applying a multiregional integrated specification to model interdependencies across regions, our results indicate that, while global decreases in public investment have a homogenously negative effect on the output of all the regions, the Spanish regions portray heterogeneous responses from localized public capital stock reductions over the simulation period considered.
Subjects: 
Regional investment
Public capital stock
Spillovers
Multiregional
Spatial econometrics
Vector autoregressions
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc Logo
Document Type: 
Article

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