Calderón, César; Moral-Benito, Enrique; Servén, Luis - Banco de España - 2011
This paper offers an evaluation of the output contribution of infrastructure. Drawing from a large data set of … infrastructure stocks covering 88 countries and spanning the years 1960-2000, and using a panel time-series approach, the paper … infrastructure given by the first principal component of infrastructure endowments in transport, power and telecommunications. Tests …