A structural estimation of the return to infrastructure investment in China

• Main Authors: Wu, Laura Guiying, Feng, Qu, Wang, Zhifeng
• Other Authors: School of Social Sciences
• Format: Article
• Language: English
• Published: 2022
• Subjects: Social sciences::Economic development; Infrastructure Investment; Productivity Effect
• Online Access: https://hdl.handle.net/10356/157001
• Institution: Nanyang Technological University

The productivity effect of infrastructure investment is controversial in the traditional literature using aggregate production function estimation due to reverse causality. This paper develops a new approach, using a structural model of firm-level production function, and matching Chinese firm-level...