Infrastructure investment and economic growth, relevance of institutional factors
We quantify the effect of infrastructure investment on economic growth and test whether that effect is conditioned by institutional factors. This is done by estimating dynamic panel data models with instrumental variables using GMM estimation. Results are in line with those reported by previous stud...
| Autores: | , |
|---|---|
| Formato: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2018 |
| País: | Costa Rica |
| Recursos: | Universidad Nacional de Costa Rica |
| Repositorio: | Portal de Revistas UNA |
| Idioma: | español |
| OAI Identifier: | oai:ojs.www.una.ac.cr:article/10382 |
| Acesso em linha: | https://www.revistas.una.ac.cr/index.php/economia/article/view/10382 |
| Access Level: | acceso abierto |
| Palavra-chave: | Infrastructure growth institutions economic freedom corruption Infraestructura crecimiento instituciones libertad económica corrupción. Infraestrutura crescimento instituições liberdade econômica corrupção |
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Infrastructure investment and economic growth, relevance of institutional factorsInversión en infraestructura y crecimiento económico, relevancia de factores institucionalesInvestimento em infraestrutura e crescimento econômico, relevância de fatores institucionaisEsquivel Monge, ManfredLoaiza Marín, KerryInfrastructuregrowthinstitutionseconomic freedomcorruptionInfraestructuracrecimientoinstitucioneslibertad económicacorrupción.Infraestruturacrescimentoinstituiçõesliberdade econômicacorrupçãoWe quantify the effect of infrastructure investment on economic growth and test whether that effect is conditioned by institutional factors. This is done by estimating dynamic panel data models with instrumental variables using GMM estimation. Results are in line with those reported by previous studies in terms of the magnitude of the effect of infrastructure on economic growth. Evidence suggests that bad institutions lessen the potential expansive effect of infrastructure investment. Latin American countries would be restraining the expansive potential of their infrastructure investment by showing unfavorable institutional performance. The same would be happening with mid and low-income countries.Se cuantifica el efecto que tiene la inversión en infraestructura sobre el crecimiento económico y si está condicionado por factores de índole institucional mediante modelos dinámicos de panel con variables instrumentales y técnica GMM. Los resultados son coherentes con estudios previos en cuanto a la magnitud del efecto de la infraestructura sobre el crecimiento. Se halla evidencia de que factores institucionales inciden significativamente en el potencial efecto expansivo de la infraestructura. Se encuentra que países de América Latina estarían limitando el potencial expansivo de su inversión en infraestructura al presentar indicadores de desempeño institucional desfavorables. Lo mismo estaría sucediendo con países de ingreso medio y bajo.Quantifica-se o efeito que o investimento tem em infraestrutura sobre o crescimento econômico, e se está condicionado por fatores de índole institucional através de modelos de painéis dinâmicos com variáveis instrumentais e técnica GMM. Os resultados são coerentes com estudos prévios quanto à magnitude do efeito da infraestrutura sobre o crescimento. Há evidências de que os fatores institucionais têm impacto significativo no potencial efeito expansivo da infraestrutura. Verifica-se que países da América Latina estariam limitando o potencial expansivo de seu investimento em infraestrutura, apresentando indicadores de desempenho institucional desfavoráveis. O mesmo estaria acontecendo com países de baixa e média renda.Universidad Nacional, Costa Rica2018-04-06info:eu-repo/semantics/publishedVersionartículo originalhttp://purl.org/coar/resource_type/c_2df8fbb1info:eu-repo/semantics/articleapplication/pdftext/htmlapplication/epub+ziphttps://www.revistas.una.ac.cr/index.php/economia/article/view/1038210.15359/eys.23-53.3Economía y Sociedad; Vol. 23 No. 53 (2018): Economía & Sociedad (enero-junio); 40-61Economía y Sociedad; Vol. 23 Núm. 53 (2018): Economía & Sociedad (enero-junio); 40-61Economía y Sociedad; v. 23 n. 53 (2018): Economía & Sociedad (enero-junio); 40-612215-34031409-1070reponame:Portal de Revistas UNAinstname:Universidad Nacional de Costa Ricainstacron:UNAspahttps://www.revistas.una.ac.cr/index.php/economia/article/view/10382/13539https://www.revistas.una.ac.cr/index.php/economia/article/view/10382/14437https://www.revistas.una.ac.cr/index.php/economia/article/view/10382/14444Derechos de autor 2018 Economía y Sociedadacceso abiertohttp://purl.org/coar/access_right/c_abf2info:eu-repo/semantics/openAccess2023-02-09T21:04:13Zoai:ojs.www.una.ac.cr:article/10382Portal de revistashttp://revistas.una.ac.cr/Universidadhttp://www.una.ac.crhttps://revistas.una.ac.cr/index.php/index/oaiandrea.mora.campos@una.crCosta RicaNo aplicaNo aplicaNo aplicaopendoar:2023-02-09T21:04:13Portal de Revistas UNA - Universidad Nacional de Costa Ricafalse |
| dc.title.none.fl_str_mv |
Infrastructure investment and economic growth, relevance of institutional factors Inversión en infraestructura y crecimiento económico, relevancia de factores institucionales Investimento em infraestrutura e crescimento econômico, relevância de fatores institucionais |
| title |
Infrastructure investment and economic growth, relevance of institutional factors |
| spellingShingle |
Infrastructure investment and economic growth, relevance of institutional factors Esquivel Monge, Manfred Infrastructure growth institutions economic freedom corruption Infraestructura crecimiento instituciones libertad económica corrupción. Infraestrutura crescimento instituições liberdade econômica corrupção |
| title_short |
Infrastructure investment and economic growth, relevance of institutional factors |
| title_full |
Infrastructure investment and economic growth, relevance of institutional factors |
| title_fullStr |
Infrastructure investment and economic growth, relevance of institutional factors |
| title_full_unstemmed |
Infrastructure investment and economic growth, relevance of institutional factors |
| title_sort |
Infrastructure investment and economic growth, relevance of institutional factors |
| dc.creator.none.fl_str_mv |
Esquivel Monge, Manfred Loaiza Marín, Kerry |
| author |
Esquivel Monge, Manfred |
| author_facet |
Esquivel Monge, Manfred Loaiza Marín, Kerry |
| author_role |
author |
| author2 |
Loaiza Marín, Kerry |
| author2_role |
author |
| dc.subject.none.fl_str_mv |
Infrastructure growth institutions economic freedom corruption Infraestructura crecimiento instituciones libertad económica corrupción. Infraestrutura crescimento instituições liberdade econômica corrupção |
| topic |
Infrastructure growth institutions economic freedom corruption Infraestructura crecimiento instituciones libertad económica corrupción. Infraestrutura crescimento instituições liberdade econômica corrupção |
| description |
We quantify the effect of infrastructure investment on economic growth and test whether that effect is conditioned by institutional factors. This is done by estimating dynamic panel data models with instrumental variables using GMM estimation. Results are in line with those reported by previous studies in terms of the magnitude of the effect of infrastructure on economic growth. Evidence suggests that bad institutions lessen the potential expansive effect of infrastructure investment. Latin American countries would be restraining the expansive potential of their infrastructure investment by showing unfavorable institutional performance. The same would be happening with mid and low-income countries. |
| publishDate |
2018 |
| dc.date.none.fl_str_mv |
2018-04-06 |
| dc.type.none.fl_str_mv |
info:eu-repo/semantics/publishedVersion artículo original http://purl.org/coar/resource_type/c_2df8fbb1 info:eu-repo/semantics/article |
| format |
article |
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publishedVersion |
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https://www.revistas.una.ac.cr/index.php/economia/article/view/10382 10.15359/eys.23-53.3 |
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https://www.revistas.una.ac.cr/index.php/economia/article/view/10382 |
| identifier_str_mv |
10.15359/eys.23-53.3 |
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spa |
| language |
spa |
| dc.relation.none.fl_str_mv |
https://www.revistas.una.ac.cr/index.php/economia/article/view/10382/13539 https://www.revistas.una.ac.cr/index.php/economia/article/view/10382/14437 https://www.revistas.una.ac.cr/index.php/economia/article/view/10382/14444 |
| dc.rights.none.fl_str_mv |
Derechos de autor 2018 Economía y Sociedad acceso abierto http://purl.org/coar/access_right/c_abf2 info:eu-repo/semantics/openAccess |
| rights_invalid_str_mv |
Derechos de autor 2018 Economía y Sociedad acceso abierto http://purl.org/coar/access_right/c_abf2 |
| eu_rights_str_mv |
openAccess |
| dc.format.none.fl_str_mv |
application/pdf text/html application/epub+zip |
| dc.publisher.none.fl_str_mv |
Universidad Nacional, Costa Rica |
| publisher.none.fl_str_mv |
Universidad Nacional, Costa Rica |
| dc.source.none.fl_str_mv |
Economía y Sociedad; Vol. 23 No. 53 (2018): Economía & Sociedad (enero-junio); 40-61 Economía y Sociedad; Vol. 23 Núm. 53 (2018): Economía & Sociedad (enero-junio); 40-61 Economía y Sociedad; v. 23 n. 53 (2018): Economía & Sociedad (enero-junio); 40-61 2215-3403 1409-1070 reponame:Portal de Revistas UNA instname:Universidad Nacional de Costa Rica instacron:UNA |
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Universidad Nacional de Costa Rica |
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UNA |
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UNA |
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Portal de Revistas UNA |
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Portal de Revistas UNA |
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Portal de Revistas UNA - Universidad Nacional de Costa Rica |
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andrea.mora.campos@una.cr |
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1849325719423811584 |
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15,81155 |