This paper studies the impact of public infrastructure on economic performance. We employ three di¤erent methodologies to estimate the returns to public investment. First, we relate growth in total factor productivity to accumulation of public capital. Second, we assess the role of public capital as an input to production. Third, we evaluate the reduction in costs that can be attributed to the ...

In 1981, Paris and Wilkie [28] indicated it was an open question whether IΣ0 would satisfy the Second Incompleteness Theorem for Herbrand deduction. We will show that some specially formulated axiomizations for IΣ0 can evade the Herbrandized version of the Second Incompleteness Theorem.

This paper presents an approach to asses ICT investments in public administrations. The public sector bears great potential for business process optimization through ICT. However, these possibilities remain largely unexploited since the effects of ICT on the processes are not clear to decisions makers. To asses this impact all processes of a public administration, the process landscape, have to...

II The UK higher education sector creates far-reaching benefits for the public, private individuals and businesses, and is funded by a mix of public and private investment. Within this funding model, there are a number of possible sources of increased investment for universities. However, while it is important to explore all options, this document shows that public funding is constrained, while...

We examine the key features of utility regulation, with an eye towards what should be kept and what can be discarded in electricity market reforms. Enterprises are considered public utilities if they are monopolistic and perform an essential public function. Governments create independent regulatory agencies to address two fundamental problems in the control of public utilities, namely the damp...

This paper tries to explain the declining level of public investment in OECD countries. The theoretical framework hints to the relevance of a number of demand and supply factors – ranging from the yield of public investment to institutions like the EU deficit limits. The econometric results indicate that the decline is largely due to two developments: First to the pile-up of public debt since t...

The paper examines the effects on growth of both private and public investment in health, schooling and culture: in short, education. These expenditures exert two effects on the growth rate: (i)they increase labour and capital stock productivity through a positive externality, and (ii) they modify saving and investment decisions through the substitutability between education and private consump...

We analyze the trade-off faced by growth firms between hoarding cash (and delaying investment) and incurring dilution from external financing. Such nonprecautionary hoarding features a self-reinforcing effect: firms with better investment opportunities hoard less, yet grow successful and cash-rich more quickly. We show that non-precautionary hoarding affects the choice between public and privat...

Health-related research in the United States is funded by US citizens, either as taxpayers or as consumers. Public support is critical to the success of the research enterprise, and it is essential for stakeholders in research to pay attention to the public's views about the investment level in research and the nature of its conduct, as well as to understand the public's level of awareness and ...

investment and financing it, is one of the crucial discussions in the economics of development and k at the center of the attention of economists. in the economic literature, it is shown that increasing the government, in other words, public sector investment will crowed out private sector investment. in this article we have tried to answer one major question. thut is, whether the public invest...