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

Garlick, Robert J

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

Master Thesis

2008

Publisher

University of Cape Town

Department

School of Economics

Faculty

Faculty of Commerce

Abstract

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.

Description

Includes abstract.

Includes bibliographical references (leaves 39-43).

Keywords

Economics

Reference:

Collections

Masters

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