Öz
Kamu altyapısı, ekonomik faaliyetler için bir temel
oluşturur. Özel sektör üretimi ve dağıtımı, ulaştırma ve çevre tesislerine
bağlıdır. Kamu yatırımlarının yeri ve seviyesi, hem topluluğun refahını hem de
toplum içindeki gelir dağılımını değiştirebilir. Bu çalışma, kamu altyapı
sermayesinin 1960-2013 döneminde Amerika Birleşik Devletleri’ndeki (ABD)
ekonomik büyüme üzerindeki üretkenlik etkisini, bir üretim fonksiyonu yaklaşımı
kullanarak, kısa ve uzun dönem için analiz etmeyi amaçlamaktadır. Kısa ve uzun
dönem etkilerin incelenebilmesi için Gecikmesi Dağıtılmış Otoregresif Model
(ARDL) kullanılmıştır. Çalışmada, devlet ve yerel kamu altyapı yatırımları ile
Gayrisafi Yurt İçi Hasıla (GSYİH) arasındaki ilişkiyi inceleyen bir analiz
yapılmaktadır. Sonuçlar kamu altyapı sermayesi ile GSYİH arasında bir ilişki
olduğunu göstermektedir. Model sonuçları tahmini olarak çıktının kamu altyapı
sermayesine olan esnekliğinin uzun vadede 0.03 ile 0.05 arasında değiştiğini
göstermektedir. Ekonomik eğilimlerin kamu yatırımlarını davet ettiği argümanını
(tersine nedenselliği) göstermiştir. Sonuçlar, kamu sermayesinin özel
yatırımları fiilen teşvik ettiği yönündeki iddiayı da desteklemektedir.
Anahtar Kelimeler
Kaynakça
- Aschauer, D. A. (1989a). Is public expenditure productive? Journal of monetary economics, 23(2), 177-200.
- Aschauer, D. A. (1989b). Public investment and productivity growth in the Group of Seven. Economic perspectives, 13(5), 17-25.
- Aschauer, D. A. (1989c). Does public capital crowd out private capital? Journal of monetary economics, 24(2), 171-188.
- Aschauer, D. A. (1985). Fiscal policy and aggregate demand. The American Economic Review, 75(1), 117-127.
- Aschauer, D. A. (2000). Do states optimize? Public capital and economic growth. The annals of regional science, 34(3), 343-363.
- Dickey, D. A.ve Fuller, W. A. (1979). Distribution of the estimators for autoregressive time series with a unit Kök. Journal of the American statistical association, 74(366a), 427-431.
- Eberts, R. W. ve Fogarty, M. S. (1987). Estimating the relationship between local public and private investment (Vol. 8703). USA: Federal Reserve Bank of Cleveland.
- Hulten, C. R. Ve Schwab, R. M. (1991). Public capital formation and the growth of regional manufacturing industries. National Tax Journal, 121-134.
- Garcia-Mila, T. Ve McGuire, T. J. (1992). The contribution of publicly provided inputs to states' economies. Regional science and urban economics, 22(2), 229-241.
- Kemp, R. L. (Ed.). (1986). America's Infrastructure: Problems and Prospects. Vero Media Incorporated.
- Munnell, A. H. (1990a). Is there a shortfall in public capital investment? An overview. In Conference Series; [Proceedings], 34, 1-20. Federal Reserve Bank of Boston.
- Munnell, A. H. with the assistance of Leah M. Cook (1990b). “How Does Public Infrastructure Affect Regional Economic Performance?”. New England Economic Review, 11-32.
- Munnell, A. H. (1992). Policy watch: infrastructure investment and economic growth. Journal of economic perspectives, 6(4), 189-198.
- Perron, P. (1989). The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis. Econometrica, 57, 1361-1401.
- Pesaran, M. H. ve Pesaran, B. (1997). Working with Microfit 4.0: interactive econometric analysis. Oxford University Press.
- Rockler, N. O. (2000). Regional economic performance and public infrastructure investment (Doctoral dissertation, Massachusetts Institute of Technology).
- Tatom, J. A. (1993). The spurious effect of public capital formation on private sector productivity. Policy Studies Journal, 21(2), 391-395.
- Tatoni, J. A. (1993). Is an infrastructure crisis lowering the nation’s productivity? Federal Reserve Bank of St. Louis, St. Louis.
Öz
Public
infrastructure provides a basis for economic activities. The production and
distribution of private economic output depend on public transportation and
environmental facilities. The location and level of public investments can
change both the welfare of the community and the distribution of income within
the community. The objective of this study is to examine the productivity
impact of public infrastructure capital on economic growth in the U.S., using a
production function approach. The relationship is analyzed for short and long
term with Autoregressive Distributed Lag (ARDL) model. This study looks into
the relationship between federal, state and local public infrastructure
investments and Gross Domestic Product (GDP). The results of the analysis show
that there is a positive relationship between public capital and industrial
output. The model results predict that the elasticity of the output to public
infrastructure capital ranges from 0.03 to 0.05 in the long-term. Results of
this analysis also show some evidence of reverse causality--the argument that
economic trends invite public investment. The results also support the argument
that public capital actually stimulates private investment.
Anahtar Kelimeler
Economic development infrastructure investments public capital ARDL
Kaynakça
- Aschauer, D. A. (1989a). Is public expenditure productive? Journal of monetary economics, 23(2), 177-200.
- Aschauer, D. A. (1989b). Public investment and productivity growth in the Group of Seven. Economic perspectives, 13(5), 17-25.
- Aschauer, D. A. (1989c). Does public capital crowd out private capital? Journal of monetary economics, 24(2), 171-188.
- Aschauer, D. A. (1985). Fiscal policy and aggregate demand. The American Economic Review, 75(1), 117-127.
- Aschauer, D. A. (2000). Do states optimize? Public capital and economic growth. The annals of regional science, 34(3), 343-363.
- Dickey, D. A.ve Fuller, W. A. (1979). Distribution of the estimators for autoregressive time series with a unit Kök. Journal of the American statistical association, 74(366a), 427-431.
- Eberts, R. W. ve Fogarty, M. S. (1987). Estimating the relationship between local public and private investment (Vol. 8703). USA: Federal Reserve Bank of Cleveland.
- Hulten, C. R. Ve Schwab, R. M. (1991). Public capital formation and the growth of regional manufacturing industries. National Tax Journal, 121-134.
- Garcia-Mila, T. Ve McGuire, T. J. (1992). The contribution of publicly provided inputs to states' economies. Regional science and urban economics, 22(2), 229-241.
- Kemp, R. L. (Ed.). (1986). America's Infrastructure: Problems and Prospects. Vero Media Incorporated.
- Munnell, A. H. (1990a). Is there a shortfall in public capital investment? An overview. In Conference Series; [Proceedings], 34, 1-20. Federal Reserve Bank of Boston.
- Munnell, A. H. with the assistance of Leah M. Cook (1990b). “How Does Public Infrastructure Affect Regional Economic Performance?”. New England Economic Review, 11-32.
- Munnell, A. H. (1992). Policy watch: infrastructure investment and economic growth. Journal of economic perspectives, 6(4), 189-198.
- Perron, P. (1989). The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis. Econometrica, 57, 1361-1401.
- Pesaran, M. H. ve Pesaran, B. (1997). Working with Microfit 4.0: interactive econometric analysis. Oxford University Press.
- Rockler, N. O. (2000). Regional economic performance and public infrastructure investment (Doctoral dissertation, Massachusetts Institute of Technology).
- Tatom, J. A. (1993). The spurious effect of public capital formation on private sector productivity. Policy Studies Journal, 21(2), 391-395.
- Tatoni, J. A. (1993). Is an infrastructure crisis lowering the nation’s productivity? Federal Reserve Bank of St. Louis, St. Louis.
Ayrıntılar
| Birincil Dil | Türkçe |
|---|---|
| Bölüm | Makaleler |
| Yazarlar | |
| Yayımlanma Tarihi | 24 Haziran 2019 |
| Yayımlandığı Sayı | Yıl 2019 Cilt: 5 Sayı: 2 |
