The authors provide various estimates of the government net capital stocks for a panel of 26 developing countries over the period 1970-2001. Two kinds of internationally comparable series of public capital stocks are presented. The first estimates are based on the standard perpetual inventory method and various assumptions regarding initial stocks and depreciation rates. The second set of estimates takes into account the potential inefficiency of public investments in creating capital with a nonparametric approach. Three estimates of net capital stocks are provided, on the basis of three assumptions regarding the efficiency of public investment.corresponding estimates of the net capital stocks and the growth rates of net capital stocks. For three reference countries (Pakistan, Philippines and Tunisia) the use of the national growth rate of public investment to build the pseudo series of past investments ... To the best of our knowledge, in the huge litterature devoted to the public capital in the United States, there is no study that points out this fact.
|Title||:||Estimates of Government Net Capital Stocks for 26 Developing Countries, 1970-2002|
|Author||:||Florence Arestoff, Christophe Hurlin|
|Publisher||:||World Bank Publications - 2006|