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HOW DOES INFRASTRUCTURE AFFECT ECONOMIC GROWTH? INSIGHTS FROM A SEMIPARAMETRIC SMOOTH COEFFICIENT APPROACH AND THE CASE OF TELECOMMUNICATIONS IN CHINA.
- Source :
-
Economic Inquiry . Jul2019, Vol. 57 Issue 3, p1239-1255. 17p. 5 Charts, 4 Graphs. - Publication Year :
- 2019
-
Abstract
- This paper attempts to shed new empirical light on infrastructure's role in economic growth using a semiparametric smooth coefficient model to avoid specification problems in some existing studies and admit infrastructure‐induced nonlinearity and parameter heterogeneity. Estimated by a three‐step procedure that controls for endogeneity in both the regressors and the environmental variable (infrastructure), the model is applied to the empirical context of telecommunications infrastructure in a fast‐growing economy, China. The results reveal that telecommunications contribute to output through various sources, namely its neutral and non‐neutral impacts. The total/net effect is positive but largely decreases with telecommunications stocks. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 00952583
- Volume :
- 57
- Issue :
- 3
- Database :
- Academic Search Index
- Journal :
- Economic Inquiry
- Publication Type :
- Academic Journal
- Accession number :
- 136579394
- Full Text :
- https://doi.org/10.1111/ecin.12770