Please use this identifier to cite or link to this item: https://hdl.handle.net/10356/137312
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dc.contributor.authorFeng, Quen_US
dc.contributor.authorWu, Laura Guiyingen_US
dc.date.accessioned2020-03-17T04:51:54Z-
dc.date.available2020-03-17T04:51:54Z-
dc.date.issued2018-
dc.identifier.citationFeng, Q., & Wu, L. G. (2018). On the reverse causality between output and infrastructure : the case of China. Economic Modelling, 74, 97-104. doi:10.1016/j.econmod.2018.05.006en_US
dc.identifier.issn0264-9993en_US
dc.identifier.urihttps://hdl.handle.net/10356/137312-
dc.description.abstractAfter the 2008 global financial crisis, promoting public infrastructure investment as a growth engine has been revived by economists. China has been considered as such a successful example of enhancing economic growth by massive infrastructure investments in the past decades. However, the literature has provided conflicting empirical results on the productivity effect of public infrastructure using aggregate data, mainly due to reverse causality. Thus, the estimated productivity effect could be either upward or downward biased. In this paper we rely on the institutional background of infrastructure investment in China, and explore several alternative ways to mitigate the reverse causality. Using China's provincial-level data over 1996–2015 and within the framework of an aggregate production function estimation, we find that an upward bias dominates when estimating output elasticity of public infrastructure, and that weak evidence is found on the productivity effect of public infrastructure. This finding highlights the necessity of using alternative identification strategies or data types.en_US
dc.language.isoenen_US
dc.relation.ispartofEconomic Modellingen_US
dc.rights© 2018 Elsevier B.V. All rights reserved. This paper was published in Economic Modelling and is made available with permission of Elsevier B.V.en_US
dc.subjectSocial sciences::Economic developmenten_US
dc.titleOn the reverse causality between output and infrastructure : the case of Chinaen_US
dc.typeJournal Articleen
dc.contributor.schoolSchool of Social Sciencesen_US
dc.identifier.doi10.1016/j.econmod.2018.05.006-
dc.description.versionAccepted versionen_US
dc.identifier.scopus2-s2.0-85048429578-
dc.identifier.volume74en_US
dc.identifier.spage97en_US
dc.identifier.epage104en_US
dc.subject.keywordsInfrastructureen_US
dc.subject.keywordsProductivityen_US
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