Infrastructure, institutions and economic growth : a time-series study of the South African economy

A growing empirical has analysed the historical relationship between infrastructure and output in South Africa, finding a broadly positive effect that operates largely via the marginal productivity of private capital. We extend this literature by investigating the relationship between infrastructure, output and institutional quality: protection of property rights, political fractionation and political and economic risk. We develop a model in the spirit of Barro (1990), which predicts a nonlinear relationship between infrastructure and output (positive at low levels of infrastructure and subsequently negative) and a positive effect of institutional capital on both output and the response of output to changes in infrastructure stock.

Grantor dc:publisher.institution

School of Economics

Year dc:date.issued

2008

Author dc:creator

• Garlick, Robert J

Advisor dc:contributor.advisor

• Fedderke, Johan

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/11427/5787

OAI identifier oai:identifier

oai:open.uct.ac.za:11427/5787