Is All Government Capital Productive?

28 Pages Posted: 9 Nov 2012

See all articles by Mary G. Finn

Mary G. Finn

Federal Reserve Banks - Federal Reserve Bank of Richmond

Date Written: 1993

Abstract

Examination of total U.S. government capital suggests that only certain of its components, namely, government-owned but privately operated capital, government enterprise capital, and government highway capital, directly contribute to the production of U.S. private sector output. During 1950-1969, positive highway capital growth raised the average growth rate of private output from 1.7 percent to 2.2 percent. In contrast, in the productivity slowdown period, 1970-1989, negative highway capital growth reduced the average growth rate of private output from 1.4 percent to 1.3 percent.

Suggested Citation

Finn, Mary G., Is All Government Capital Productive? (1993). FRB Richmond Economic Quarterly, vol. 79, no. 4, Fall 1993, pp. 53-80. Available at SSRN: https://ssrn.com/abstract=2129229

Mary G. Finn (Contact Author)

Federal Reserve Banks - Federal Reserve Bank of Richmond

P.O. Box 27622
Richmond, VA 23261
United States
804-697-8266 (Phone)
804-697-8255 (Fax)

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