Download full text
(external source)
Citation Suggestion
Please use the following Persistent Identifier (PID) to cite this document:
https://doi.org/10.18335/region.v4i1.146
Exports for your reference manager
Regional public stock reductions in Spain: estimations from a multiregional spatial vector autorregressive model
[journal article]
Abstract The estimation of the impact of public investment on regional economic growth requires consideration of the spatio-temporal dynamics among the state variables of each region. Recent austerity policies in Spain that feature temporary decreases in the accumulation of regional public capital should th... view more
The estimation of the impact of public investment on regional economic growth requires consideration of the spatio-temporal dynamics among the state variables of each region. Recent austerity policies in Spain that feature temporary decreases in the accumulation of regional public capital should thus be evaluated in terms of their impact on the economy as a whole, on specific regions together with the spillovers effects from one region to the rest of the regional system. Applying a multiregional integrated specification to model interdependencies across regions, our results indicate that, while global decreases in public investment have a homogenously negative effect on the output of all the regions, the Spanish regions portray heterogeneous responses from localized public capital stock reductions over the simulation period considered.... view less
Keywords
Spain; investment policy; region; austerity policy
Classification
Area Development Planning, Regional Research
Economic Policy
Document language
English
Publication Year
2017
Page/Pages
p. 129-146
Journal
Region: the journal of ERSA, 4 (2017) 1
ISSN
2409-5370
Status
Published Version; peer reviewed