Are all infrastructure investments created equal? The case of Portugal

Pereira, Alfredo Marvão; Pereira, Rui M.

doi:10.24294/jipd.v2i1.145

Cited by 6 publications

(6 citation statements)

References 24 publications

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“…On the contrary, the highway funding shocks occurring during 2009, the Focusing on a specific EU country i.e. Portugal, Pereira and Pereira (2017) employ a VAR model to estimate the long-term elasticities and marginal products of output, employment, and private investment with respect to infrastructure investment through an analysis of the resulting impulse-response functions.…”

Section: Literature On Empirical Results: Short and Long Run Effectsmentioning

confidence: 99%

Short and Long-Run Effects of Public Investment: Theoretical Premises and Empirical Evidence

Scandizzo¹,

Pierleoni²

2020

TEL

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This survey focuses on the impact of public investment as an instrument of economic policy. The study presents and analyzes features and results of the empirical works on this theme taking into account both theory and estimations issues. In general, the studies surveyed support the idea that public investment, if projects are properly selected, raises output and welfare through both demand and supply effects and thus should be the instrument of choice of economic policy for governments and public agencies. Moreover, a considerable amount of empirical studies show that public investments have higher positive growth effects than public consumption both in the short and in the long run. In spite of a great diversity in the theoretical approaches and the empirical results, the studies surveyed tend to converge in many indications that can be useful to policy makers. Among these, in addition to several pointers on the reasons why public investments may be made more effective, is that a major challenge is to provide a new generation of global public goods for sustainable development.

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Section: Literature On Empirical Results: Short and Long Run Effectsmentioning

confidence: 99%

Short and Long-Run Effects of Public Investment: Theoretical Premises and Empirical Evidence

Scandizzo¹,

Pierleoni²

2020

TEL

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“…Road accessibility in Portugal was poor until the 1980s, but it has vastly improved since the country joined the European Union in 1986 and gained access to structural funds, a large proportion of which were allocated to improving road transport. According to Pereira and Pereira (2017), investment in roads grew from 0.74% of Portugal's GDP in the period 1980–1989, to 1.32% in 1990–1999 and then to 1.52% in 2000–2009. Investment on motorways alone corresponded to 0.07%, 0.30%, and 0.59% of GDP, respectively, for the same periods.…”

Section: Introductionmentioning

confidence: 99%

Does road accessibility to cities support rural population growth? Evidence for Portugal between 1991 and 2011

Melo

Rego

Anciães

et al. 2021

Journal of Regional Science

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Motorways in Portugal received large scale funding after the country joined the European Union in 1986, making it an ideal case to study the effect of road accessibility on the development of lagging rural areas.We investigate the relationship between rural population change and road accessibility to the urban hierarchy between 1991 and 2011. We find that rural population growth is negatively associated with increased road distance and travel time to cities, notably to medium-sized cities (20,000-99,999 inhabitants).There is no evidence of nonlinearities in the effect of proximity to the urban hierarchy between accessible and remote rural areas.population change, road accessibility, rural areas, rural-urban linkages, spillover effects | INTRODUCTIONThe nature of the relationship between urban and rural areas is complex and has changed over time in tandem with improvements in information and communication technologies, leading to an increasingly blurry distinction between what is urban and rural (Irwin et al., 2009). While the theories and models explaining these linkages differ across disciplines (e.g., economics, geography, and planning), there is a general belief that proximity to cities can benefit surrounding rural areas by providing markets for the goods produced in rural areas and a larger and more diversified pool of employment opportunities and services (e.g., public services, hospitals, and schools). At the same

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“…We use a multivariate dynamic time series methodological approach, based on the use of vector autoregressive (VAR) models, developed in Pereira and Flores (1999) and Pereira (2000Pereira ( , 2001. This approach was subsequently applied to the U.S. in Pereira and Andraz (2003, 2004, 2012, to Portugal in Andraz (2005, 2006), and Pereira and Pereira (2018), and to Spain in Roca-Sagales (1999, 2003). For other VAR-based applications with an international focus see, for example, Agenor et al (2005), Batina (1998), Belloc and Vertova (2006), De Frutos et al (1998), Demetriades and Mamuneas (2000), Ghali (1998), Kamps (2005), Lau and Sin (1997), Ligthart (2002), Mamatzakis (1999), Mittnik and Newman (2001), Otto and Voss (2002), and Sturm et al (1999).…”

Section: Introductionmentioning

confidence: 99%

On the Effects of Infrastructure Investment on Economic Performance in Ontario

Pereira

2018

J Infrastruct Policy Dev

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Over the past decade, Ontario has seen a renewal in efforts to stimulate economic growth by investing in infrastructures. In this paper, we analyze the impact of public infrastructure investment on economic performance in this province. We use a multivariate dynamic time series methodological approach, based on the use of vector autoregressive models to estimate the elasticities and marginal products of six different types of public infrastructure assets on private investment, employment and output. We find that all types of public investment crowd in private investment while investment in highways, roads, and bridges crowds out employment. We also find that all types of public investment, with the exception of highways, roads and bridges, have a positive effect on output. The relatively large range of results estimated for the impact of each of the different public infrastructure types suggests that a targeted approach to the design of infrastructure investment policy is required. Infrastructure investment in transit systems and health facilities display the highest returns for output and the largest effects on employment and labor productivity. In terms of the nature of the empirical results presented here it would be important to highlight the fact that investments in health infrastructures as well as investments in education infrastructures are of great relevance. This is a pattern consistent with the mounting international evidence on the importance of human capital for long term economic performance.

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Are all infrastructure investments created equal? The case of Portugal

Cited by 6 publications

References 24 publications

Short and Long-Run Effects of Public Investment: Theoretical Premises and Empirical Evidence

Short and Long-Run Effects of Public Investment: Theoretical Premises and Empirical Evidence

Does road accessibility to cities support rural population growth? Evidence for Portugal between 1991 and 2011

On the Effects of Infrastructure Investment on Economic Performance in Ontario

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