The Efficiency of Disaggregate Public Capital Provision in Japan

Author: TOSHIHIRO IHORI AND HIROKI KONDO
Published in PFM, Vol. 1 No. 2

We investigate the efficiency of disaggregated public capital provision for the Japanese economy. We estimate the optimality conditions based on simultaneous Euler equations by using GMM. Our results suggest that public capital productivities have been relatively high and divergent among several public capital goods. The allocation of public works is not optimal yet in Japan.

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