经济
交通基础设施
公共基础设施
论证(复杂分析)
交通基础设施
运输经济学
传统投资
宏
公共经济学
财务
微观经济学
生产(经济)
运输工程
工程类
生物化学
计算机科学
化学
程序设计语言
法学
政治学
作者
Chad Shirley,Clifford Winston
标识
DOI:10.1016/j.jue.2003.11.001
摘要
The debate in public and macro economics over the returns from infrastructure spending has largely ignored transportation economics, which has documented substantial inefficiencies created by highway policy and motivated researchers to explain how infrastructure spending produces economic benefits. This paper develops a theoretical argument that highway infrastructure investments generate benefits by lowering firms' inventories and provides empirical estimates of returns based on this mechanism. We find that annual returns from highway investments have fallen to less than 5 percent during the 1980s and 1990s and suggest that a partial explanation may be the rising cost of inefficient transportation infrastructure policy.
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