THE EFFECTS OF PUBLIC INFRASTRUCTURE AND RESEARCH-AND-DEVELOPMENT CAPITAL ON THE COST-STRUCTURE AND PERFORMANCE OF UNITED-STATES MANUFACTURING-INDUSTRIES

• 成果类型: Article
• 署名作者: NADIRI, MI; MAMUNEAS, TP
• 署名单位: National Bureau of Economic Research
• 刊物名称: REVIEW OF ECONOMICS AND STATISTICS
• ISSN/ISSBN: 0034-6535
• DOI: 10.2307/2109823
• 发表日期: 1994-02
• 页码: 22-37
• 关键词: d investment; PRODUCTIVITY

摘要

In this paper we examine the effects of publicly financed infrastructure and R&D capitals on the cost structure and productivity performance of twelve two-digit U.S. manufacturing industries. The results suggest that there are significant productive effects from these two types of capital. Their effects on the cost structure vary across industries. Not only is the cost function shifted downward in each industry, generating productivity inducement, but the factor demand in each industry is also affected by the two types of public capital suggesting bias effects. We also calculate the marginal benefits of the two types of public capital services in each industry and estimate the ''social'' rates of return to these capitals for the industries in our sample.