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Title: Infrastructure Investment and Spanish Economic Growth, 1850-1935
Author: Herranz Loncán, Alfonso
Keywords: Infraestructures (Transport)
Xarxes de comunicacions
Creixement econòmic
Transportation buildings
Communication networks
Economic growth
Issue Date: 2007
Publisher: Elsevier
Abstract: This paper analyzes the impact of infrastructure investment on Spanish economic growth between 1850 and 1935. Using new infrastructure data and VAR techniques, this paper shows that the growth impact of local-scope infrastructure investment was positive, but returns to investment in large nation-wide networks were not significantly different from zero. Two complementary explanations are suggested for the last result. On the one hand, public intervention and the application of non-efficiency investment criteria were very intense in large network construction. On the other hand, returns to new investment in large networks might have decreased dramatically once the basic links were constructed.
Note: Versió postprint del document publicat a:
It is part of: Explorations in Economic History, 2007, vol. 44, num. 3, p. 452-468
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ISSN: 0014-4983
Appears in Collections:Articles publicats en revistes (Història Econòmica, Institucions, Política i Economia Mundial)

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