Regional development and non-material public infrastructure

Article Abstract:

Local development policy, which aims to bring about development in a region through the radical change in its political and economic structure, is compatible with regional development policy in achieving balanced regional development. For a region to achieve development, it is necessary to have public investment in both the material and the non-material infrastructures such as the the building of research centers and the upgrading of communication and information networks. However, non-material public capital results to a smaller change in development compared to material public capital.

Administration of Housing Programs, Urban Planning, and Development, Community & Regional Development, Analysis, Infrastructure (Economics), Economic aspects, Public works, Public investments

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Depreciation, obsolescence and the role of capital in growth accounting: a reply to Oulton

Article Abstract:

Nicholas Oulton's assertion that there is residual in growth accounting is flawed. Oulton made the assertion based on the principle that depreciation in capital, primarily in machines, is not offset by increases in wages. The principle may hold provided that laborers can be likened to machines who remain physically unchanged. However, laborers and machines do change and become less productive. Therefore, there is no residual since wage increases are offset by the depreciation of machines.

Models

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Depreciation, obsolescence and the role of capital in growth accounting

Article Abstract:

Neoclassical production function and growth accounting techniques have been criticized for not being able to accurately gage the role of capital in the analysis of growth. The inadequacies of such techniques lie in their inability to properly consider the effect of depreciation and obsolescence. However, recent studies have shown that the inability of growth accounting to accurately analyze the economic growth process depends on the underlying model of the economy.

Evaluation, Accounting and auditing, Neoclassical economics, Depreciation

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