Shankha, Chakraborty; Era, Dabla-Norris - In: The B.E. Journal of Macroeconomics 11 (2011) 1, pp. 1-29
Macro-level estimates of the productivity of public capital are typically larger than micro-level estimates. The evidence also shows sizable cross-country differences in the quality of public capital. A general equilibrium growth model is introduced to explain both facts. The productivity of...