Taxes, federal grants, local public spending, and growth

Article Abstract:

A study is conducted that models the externalities of local public capital accumulation on private investment and examines the impact of various taxes and grants on local economic growth. To empirically assess the growth effects of taxes and grants, a broad, realistic and dynamic model with both private and local public capital accumulation is developed. It is used to analyze how the long-run equilibria of private consumption, private capital accumulation, local public consumption and local public capital stock are influenced by federal and local income taxes, local consumption tax, and federal matching grants for local public consumption and local public investment. The main findings of the study and their implications are discussed.

Consumption (Economics), Local taxation, Subsidies, Local finance

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Public infrastructure and regional economic development: a simultaneous equations approach

Article Abstract:

This study examined how regional economic development is affected by public infrastructure, using per capital personal income as a measure. Annual data from 1980 to 1984 for 28 metropolitan areas in the US were analyzed. Results revealed that the actual construction of public capital stock, and its role in the production process and as a household consumption good, affect per capita personal income in a positive and statistically significant manner. This shows how important public capital stock can be in enhancing a region's productivity and competitive advantage.

Infrastructure (Economics), Capital stock, Regional economics

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Public capital accumulation and private sector performance

Article Abstract:

Findings are presented in research on private sector impact on public capital formation. These include a positive correlation between capital and lagged output, a negative correlation between capital and lagged employment.

United States, Statistical Data Included, Private sector, Capital formation

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