Marginal productivity of expanding highway capacity

摘要: This paper examines the contribution of highway capacity expansions towards regional economic development in US. Using data for forty-eight contiguous US states from 1984 to 2005, dynamic production function estimates reveal that increases overall can have a positive, long-lasting effect on private sector output. However, both short-run and long-run output elasticities highways are small. The suggests further investments infrastructure may not produce sizable returns. long-term productivity benefits expansion appear be even smaller lane-mile additions lower functional road categories. © 2012 LSE University Bath