Public Works

  • Hiroki Kondo
Part of the Research Monographs in Japan-U.S. Business & Economics book series (JUSB, volume 7)


As explained in chapter 1, in 1998 the Japanese government abandoned the fiscal reconstruction plan and increased issues of government bonds and spending on public works. Spending on public works has been very high in Japan among developed countries. The ratio of general government fixed capital formation to GDP amounted to 8% in 1998, compared with 1 to 3% in other industrial countries.


Unit Root Public Work Public Investment Capital Good Private Consumption 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. Arrow, K. J and M. Kurtz, 1970, Public Investment, the Rate of Return, and Optimal Fiscal Policy,Johns Hopkins University Press.Google Scholar
  2. Aschauer, D. A., 1989, Is public expenditure productive? Journal of Monetary Economics 23, 177–200.CrossRefGoogle Scholar
  3. Asako, K., A. Tsuneki, S. Fukuda, H. Teruyama, T. Tsukamoto and M. Sugiyama, 1994, Productivity of government capital and welfare evaluation of government investment policy, Economic Analysis 135, Economic Planning Agency of Japan (in Japanese).Google Scholar
  4. Batina, R. G., 1999, On the long run effects of public capital and disaggregated public capital on aggregate output, International Tax and Public Finance 5, 263–281.CrossRefGoogle Scholar
  5. Cochrane, J. H., 1991, Production-based asset pricing and the link between stock returns and economic fluctuations, Journal of Finance 46, 207–234.CrossRefGoogle Scholar
  6. Doi, T., 1998, Panel analysis of public capital in Japan, Kokumin Keizai 161, 27–52 (in Japanese).Google Scholar
  7. Gramlich, E. M., 1994, Infrastructure investment: A Review Essay, Journal of Economic Literature 32, 1176–1196.Google Scholar
  8. Hansen, L. P., 1982, Large sample properties of generalized method of moments estimations, Econometrica 50, 1029–1054.CrossRefGoogle Scholar
  9. Hansen, L. P. and K. J. Singleton, 1982, Generalized instrumental variables estimation of nonlinear rational expectations models, Econometrica 50, 1269–1286.CrossRefGoogle Scholar
  10. Ihori, T., 1987, The size of government spending and the private sector’s evaluation, Journal of Japanese and International Economies 2, 82–96.CrossRefGoogle Scholar
  11. Ihori, T. and H. Kondo, 1998, Public Investment and private consumption: Government deficits and multiplier, Financial Review 47, 106–133 (in Japanese).Google Scholar
  12. Diori, T. and H. Kondo, 2001, Efficiency of disaggregate public capital provision in Japan“ Public Finance and Management 1, 161–182.Google Scholar
  13. Iwamoto, Y., 1990, An evaluation of public investment policy in postwar Japan,Economic Review 41, 250–261 (in Japanese).Google Scholar
  14. Kitasaka, S., 1999, Some tests of the efficiency of public capital provision: Euler equation approach, JCER Economic Journal 39, 76–96 (in Japanese).Google Scholar
  15. Kondo, H. and T. Ihori, 1999, The dynamic effects of public investment on private consumption and the welfare implication, JCER Economic Journal 39, 55–75 (in Japanese).Google Scholar
  16. Mitsui, K. and K. Ohta, 1995, Productivity of Public Capital and Publc Finance,Nihon Hyoron Sha (in Japanese).Google Scholar
  17. Otto, G. D. and G. M. Voss, 1998, Is public capital provision efficient? Journal of Monetary Economics 42, 47–66.CrossRefGoogle Scholar
  18. Yoshino, N. and H. Nakano, 1996, Interregional distribution and productivity effect of public investment, Financial Review 41, 16–26 (in Japanese).Google Scholar

Copyright information

© Springer Science+Business Media New York 2002

Authors and Affiliations

  • Hiroki Kondo

There are no affiliations available

Personalised recommendations