Please use this identifier to cite or link to this item: http://hdl.handle.net/2445/39411
Title: Infrastructure Investment and Spanish Economic Growth, 1850-1935
Author: Herranz Loncán, Alfonso
Keywords: Infraestructures (Transport)
Xarxes de comunicacions
Ferrocarrils
Creixement econòmic
Espanya
Industrialització
Transportation buildings
Communication networks
Railroads
Economic growth
Spain
Industrialization
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: http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6WFJ-4KKNNDT-1&_user=10&_rdoc=1&_fmt=&_orig=search&_sort=d&view=c&_acct=C000050221&_version=
It is part of: Explorations in Economic History, 2007, vol. 44, num. 3, p. 452-468
URI: http://hdl.handle.net/2445/39411
ISSN: 0014-4983
Appears in Collections:Articles publicats en revistes (Història Econòmica, Institucions, Política i Economia Mundial)

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