Determinants of Public Expenditure on Infrastructure:Some Empirical Evidence from a Cross-Country Panel Data

摘要

By using Panel Data estimation method with cross-section and time fixed effects,we empirically study factors that influence infrastructure spending rate in government income.Our empirical evidence indicates that public expenditure on infrastructure responds significantly to institutions.Besides,infrastructure spending rate in government income is positively influenced by infrastructure expenditure of last year,labor force participation rate and budget deficit,while negatively influenced by urbanization,population densities and government size.And we find that external economic has no affect on infrastructure spending rate.