Infrastructure and Economic Growth

I estimate the effect that growth in countries’ GDP per capita has on the growth rate of infrastructure. In order to extract exogenous variation in GDP per capita growth, I use the growth of the international oil price multiplied with countries’ GDP shares of oil net-exports as an instrumental varia...

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Autor principal:	Markus Brueckner
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	anocracy economic growth infrastructure Risk in industry. Risk management HD61 Finance HG1-9999
Acceso en línea:	https://doaj.org/article/5854769d87524bca8bb6802f75b48213
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spelling	oai:doaj.org-article:5854769d87524bca8bb6802f75b482132021-11-25T18:08:41ZInfrastructure and Economic Growth10.3390/jrfm141105431911-80741911-8066https://doaj.org/article/5854769d87524bca8bb6802f75b482132021-11-01T00:00:00Zhttps://www.mdpi.com/1911-8074/14/11/543https://doaj.org/toc/1911-8066https://doaj.org/toc/1911-8074I estimate the effect that growth in countries’ GDP per capita has on the growth rate of infrastructure. In order to extract exogenous variation in GDP per capita growth, I use the growth of the international oil price multiplied with countries’ GDP shares of oil net-exports as an instrumental variable. My instrumental variables estimates show that, for both democracies and autocracies, GDP per capita growth has a significant positive effect on infrastructure growth. This effect is significantly smaller in anocracies—so much so that, in anocracies, GDP per capita growth has no significant effect on the growth rate of infrastructure.Markus BruecknerMDPI AGarticleanocracyeconomic growthinfrastructureRisk in industry. Risk managementHD61FinanceHG1-9999ENJournal of Risk and Financial Management, Vol 14, Iss 543, p 543 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	anocracy economic growth infrastructure Risk in industry. Risk management HD61 Finance HG1-9999
spellingShingle	anocracy economic growth infrastructure Risk in industry. Risk management HD61 Finance HG1-9999 Markus Brueckner Infrastructure and Economic Growth
description	I estimate the effect that growth in countries’ GDP per capita has on the growth rate of infrastructure. In order to extract exogenous variation in GDP per capita growth, I use the growth of the international oil price multiplied with countries’ GDP shares of oil net-exports as an instrumental variable. My instrumental variables estimates show that, for both democracies and autocracies, GDP per capita growth has a significant positive effect on infrastructure growth. This effect is significantly smaller in anocracies—so much so that, in anocracies, GDP per capita growth has no significant effect on the growth rate of infrastructure.
format	article
author	Markus Brueckner
author_facet	Markus Brueckner
author_sort	Markus Brueckner
title	Infrastructure and Economic Growth
title_short	Infrastructure and Economic Growth
title_full	Infrastructure and Economic Growth
title_fullStr	Infrastructure and Economic Growth
title_full_unstemmed	Infrastructure and Economic Growth
title_sort	infrastructure and economic growth
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/5854769d87524bca8bb6802f75b48213
work_keys_str_mv	AT markusbrueckner infrastructureandeconomicgrowth
_version_	1718411559406927872

Infrastructure and Economic Growth

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