caa a22 4500 47583867X CHVBK 20180406123855.0 cr unu---uuuuu 170329e20000901xx s 000 0 eng 10.1007/s001689900016 doi (NATIONALLICENCE)springer-10.1007/s001689900016 Aschauer David Alan Bates College, Lewiston, Maine 04240, USA (e-mail: daschaue@bates.edu), US aut Do states optimize? Public capital and economic growth [Elektronische Daten] [David Alan Aschauer] Abstract.: This paper develops a non-linear theoretical relationship between public capital and economic growth in order to obtain estimates of the growth-maximizing ratio of public capital to private capital. The model is empirically implemented using data on the 48 contiguous U.S. states over the period 1970 to 1990. The empirical results provide evidence that (i) the relationship between public capital and economic growth is non-linear, (ii) the growth-maximizing public capital stock is approximately 60% to 80% as large as the private (tangible) capital stock, and (iii) permanent changes in public capital are associated with permanent changes in economic growth. Springer-Verlag Berlin Heidelberg, 2000 https://doi.org/10.1007/s001689900016 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s001689900016 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Aschauer David Alan Bates College, Lewiston, Maine 04240, USA (e-mail: daschaue@bates.edu), US aut Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer