{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,4,14]],"date-time":"2026-04-14T13:19:59Z","timestamp":1776172799375,"version":"3.50.1"},"reference-count":81,"publisher":"Springer Science and Business Media LLC","issue":"3","license":[{"start":{"date-parts":[[2019,12,6]],"date-time":"2019-12-06T00:00:00Z","timestamp":1575590400000},"content-version":"tdm","delay-in-days":0,"URL":"http:\/\/www.springer.com\/tdm"},{"start":{"date-parts":[[2019,12,6]],"date-time":"2019-12-06T00:00:00Z","timestamp":1575590400000},"content-version":"vor","delay-in-days":0,"URL":"http:\/\/www.springer.com\/tdm"}],"funder":[{"name":"Funda\u00e7\u00e3o para a Ci\u00eancia e a Tecnologia","award":["project UID\/GES\/04630\/2019"],"award-info":[{"award-number":["project UID\/GES\/04630\/2019"]}]},{"DOI":"10.13039\/501100001871","name":"Funda\u00e7\u00e3o para a Ci\u00eancia e a Tecnologia","doi-asserted-by":"publisher","award":["project UID\/ECO\/04007\/2019"],"award-info":[{"award-number":["project UID\/ECO\/04007\/2019"]}],"id":[{"id":"10.13039\/501100001871","id-type":"DOI","asserted-by":"publisher"}]}],"content-domain":{"domain":["link.springer.com"],"crossmark-restriction":false},"short-container-title":["Int Rev Econ"],"published-print":{"date-parts":[[2020,9]]},"DOI":"10.1007\/s12232-019-00340-x","type":"journal-article","created":{"date-parts":[[2019,12,6]],"date-time":"2019-12-06T12:08:57Z","timestamp":1575634137000},"page":"293-317","update-policy":"https:\/\/doi.org\/10.1007\/springer_crossmark_policy","source":"Crossref","is-referenced-by-count":26,"title":["The relationship between public capital stock, private capital stock and economic growth in the Latin American and Caribbean countries"],"prefix":"10.1007","volume":"67","author":[{"given":"Renato","family":"Santiago","sequence":"first","affiliation":[]},{"given":"Matheus","family":"Koengkan","sequence":"additional","affiliation":[]},{"ORCID":"https:\/\/orcid.org\/0000-0002-6937-5420","authenticated-orcid":false,"given":"Jos\u00e9 Alberto","family":"Fuinhas","sequence":"additional","affiliation":[]},{"given":"Ant\u00f3nio Cardoso","family":"Marques","sequence":"additional","affiliation":[]}],"member":"297","published-online":{"date-parts":[[2019,12,6]]},"reference":[{"key":"340_CR1","doi-asserted-by":"publisher","unstructured":"Abrigo MRM, Love I (2015) Estimation of panel vector autoregression in stata: a package of programs, p 28. https:\/\/doi.org\/10.1017\/cbo9781107415324.004","DOI":"10.1017\/cbo9781107415324.004"},{"key":"#cr-split#-340_CR2.1","doi-asserted-by":"crossref","unstructured":"Agenor P-R, Moreno-Dodson B (2006) Public infrastructure and growth: new channels and policy implications (English). Policy, research working paper","DOI":"10.1596\/1813-9450-4064"},{"key":"#cr-split#-340_CR2.2","unstructured":"no. WPS 4064. World Bank, Washington, DC. http:\/\/documents.worldbank.org\/curated\/en\/485431468141267544\/Publicinfrastructure-and-growth-new-channels-and-policy-implications. Accessed 21 Dec 2018"},{"key":"340_CR3","doi-asserted-by":"publisher","first-page":"267","DOI":"10.1016\/j.ecolind.2016.02.059","volume":"67","author":"U Al-Mulali","year":"2016","unstructured":"Al-Mulali U, Ozturk I, Solarin SA (2016) Investigating the environmental Kuznets curve hypothesis in seven regions: the role of renewable energy. Ecol Indic 67:267\u2013282. https:\/\/doi.org\/10.1016\/j.ecolind.2016.02.059","journal-title":"Ecol Indic"},{"issue":"1","key":"340_CR4","doi-asserted-by":"publisher","first-page":"123","DOI":"10.1016\/S0304-4076(00)00077-4","volume":"101","author":"DWK Andrews","year":"2001","unstructured":"Andrews DWK, Lu B (2001) Consistent model and moment selection procedures for GMM estimation with application to dynamic panel data models. J Econom 101(1):123\u2013164. https:\/\/doi.org\/10.1016\/S0304-4076(00)00077-4","journal-title":"J Econom"},{"issue":"1","key":"340_CR5","doi-asserted-by":"publisher","first-page":"29","DOI":"10.1016\/0304-4076(94)01642-D","volume":"68","author":"M Arellano","year":"1995","unstructured":"Arellano M, Bover O (1995) Another look at the instrumental variable estimation of error-components models. J Econom 68(1):29\u201351. https:\/\/doi.org\/10.1016\/0304-4076(94)01642-D","journal-title":"J Econom"},{"key":"340_CR6","doi-asserted-by":"publisher","unstructured":"Arslanalp S, Bornhorst F, Gupta S, Sze E (2010) IMF working paper: public capital and growth. International Monetary Fund, USA. https:\/\/doi.org\/10.5089\/9781455201860.001","DOI":"10.5089\/9781455201860.001"},{"issue":"2","key":"340_CR7","doi-asserted-by":"publisher","first-page":"177","DOI":"10.1016\/0304-3932(89)90047-0","volume":"23","author":"DA Aschauer","year":"1989","unstructured":"Aschauer DA (1989a) Is public expenditure productive? J Monet Econ 23(2):177\u2013200. https:\/\/doi.org\/10.1016\/0304-3932(89)90047-0","journal-title":"J Monet Econ"},{"issue":"2","key":"340_CR8","doi-asserted-by":"publisher","first-page":"171","DOI":"10.1016\/0304-3932(89)90002-0","volume":"24","author":"DA Aschauer","year":"1989","unstructured":"Aschauer DA (1989b) Does public capital crowd out private capital? J Monet Econ 24(2):171\u2013188. https:\/\/doi.org\/10.1016\/0304-3932(89)90002-0","journal-title":"J Monet Econ"},{"key":"340_CR9","first-page":"43","volume-title":"How big should the public capital stock be?","author":"DA Aschauer","year":"1998","unstructured":"Aschauer DA (1998) How big should the public capital stock be?. Jerome Levy Econ Inst Bard Coll Public Policy, No, p 43"},{"key":"340_CR10","doi-asserted-by":"publisher","first-page":"323","DOI":"10.1016\/j.worlddev.2018.05.004","volume":"109","author":"G Bahal","year":"2018","unstructured":"Bahal G, Raissi M, Tulin V (2018) Crowding-out or crowding-in? Public and private investment in India. World Dev 109:323\u2013333. https:\/\/doi.org\/10.1016\/j.worlddev.2018.05.004","journal-title":"World Dev"},{"key":"340_CR11","unstructured":"Barbiero F, Darvas Z (2014) In sickness and in health. Protecting and supporting public investment in Europe. Bruegel Policy Contribution, Bruegel, Brussels. http:\/\/www.bruegel.org\/publications\/publicationdetail\/publication\/812-in-sickness-and-in-health-protecting-and-supportingpublic-investment-in-europe\/. Accessed 27 Dec 2018"},{"issue":"5, Part 2","key":"340_CR12","doi-asserted-by":"publisher","first-page":"S103","DOI":"10.1086\/261726","volume":"98","author":"RJ Barro","year":"1990","unstructured":"Barro RJ (1990) Government spending in a simple model of endogeneous growth. J Political Econ 98(5, Part 2):S103\u2013S125. https:\/\/doi.org\/10.1086\/261726","journal-title":"J Political Econ"},{"key":"340_CR200","doi-asserted-by":"publisher","DOI":"10.1002\/0471725153","volume-title":"Regression diagnostics: identifying influential data and sources of collinearity","author":"DA Belsley","year":"1980","unstructured":"Belsley DA, Kuh E, Welsch RE (1980) Regression diagnostics: identifying influential data and sources of collinearity. Wiley, New York. https:\/\/doi.org\/10.1002\/0471725153"},{"issue":"342","key":"340_CR13","doi-asserted-by":"publisher","first-page":"409","DOI":"10.1111\/ecca.12275","volume":"86","author":"A Berg","year":"2019","unstructured":"Berg A, Buffie EF, Pattillo C, Portillo R, Presbitero AF, Zanna L-F (2019) Some misconceptions about public investment efficiency and growth. Economica 86(342):409\u2013430. https:\/\/doi.org\/10.1111\/ecca.12275","journal-title":"Economica"},{"key":"340_CR14","doi-asserted-by":"publisher","first-page":"149","DOI":"10.1007\/978-3-319-76493-1_6","volume-title":"Determinants of economic growth in Africa","author":"K Berhane","year":"2018","unstructured":"Berhane K (2018) The role of financial development and institutional quality in economic growth in Africa in the era of globalization. In: Heshmati A (ed) Determinants of economic growth in Africa. Springer, Cham, pp 149\u2013196. https:\/\/doi.org\/10.1007\/978-3-319-76493-1_6"},{"key":"340_CR15","doi-asserted-by":"publisher","first-page":"269","DOI":"10.2307\/2946665","volume":"111","author":"M Blomstrom","year":"1996","unstructured":"Blomstrom M, Lipsey RE, Zejan M (1996) Is fixed investment the key to economic growth. Q J Econ 111:269\u2013276. https:\/\/doi.org\/10.2307\/2946665","journal-title":"Q J Econ"},{"issue":"5","key":"340_CR16","doi-asserted-by":"publisher","first-page":"889","DOI":"10.1111\/joes.12037","volume":"28","author":"PRD Bom","year":"2014","unstructured":"Bom PRD, Ligthart JE (2014) What have we learned from three decades of research on the productivity of public capital? J Econ Surv 28(5):889\u2013916. https:\/\/doi.org\/10.1111\/joes.12037","journal-title":"J Econ Surv"},{"issue":"2","key":"340_CR17","doi-asserted-by":"publisher","first-page":"177","DOI":"10.1002\/jae.2373","volume":"30","author":"C Calder\u00f3n","year":"2015","unstructured":"Calder\u00f3n C, Moral-Benito E, Serv\u00e9n L (2015) Is infrastructure capital productive? A dynamic heterogeneous approach. J Appl Econom 30(2):177\u2013198. https:\/\/doi.org\/10.1002\/jae.2373","journal-title":"J Appl Econom"},{"key":"340_CR18","doi-asserted-by":"publisher","first-page":"929","DOI":"10.1111\/j.1468-2354.2009.00554.x","volume":"50","author":"F Canova","year":"2009","unstructured":"Canova F, Ciccarelli M (2009) Estimating multi-country VAR models. Int Econ Rev 50:929\u2013959","journal-title":"Int Econ Rev"},{"key":"340_CR19","doi-asserted-by":"publisher","DOI":"10.4000\/poldev.2894","author":"F Castellani","year":"2019","unstructured":"Castellani F, Olarreaga M, Panizza U, Zhou Y (2019) Investment gaps in Latin America and the Caribbean. Revue Int de Politique de D\u00e9veloppement. https:\/\/doi.org\/10.4000\/poldev.2894","journal-title":"Revue Int de Politique de D\u00e9veloppement"},{"issue":"1","key":"340_CR20","doi-asserted-by":"publisher","first-page":"65","DOI":"10.1016\/j.jce.2010.10.001","volume":"39","author":"E Cavallo","year":"2011","unstructured":"Cavallo E, Daude C (2011) Public investment in developing countries: a blessing or a curse? J Comp Econ 39(1):65\u201381. https:\/\/doi.org\/10.1016\/j.jce.2010.10.001","journal-title":"J Comp Econ"},{"key":"340_CR21","unstructured":"Charlot S, Schmitt B (1999) Public infrastructure and economic growth in France\u2019s regions. In: ERSA conference papers ersa99pa142. European Regional Science Association"},{"issue":"2","key":"340_CR22","doi-asserted-by":"publisher","first-page":"367","DOI":"10.1016\/j.jedc.2012.09.006","volume":"37","author":"G Coenen","year":"2013","unstructured":"Coenen G, Straub R, Trabandt M (2013) Gauging the effects of fiscal stimulus packages in the euro area. J Econ Dyn Control 37(2):367\u2013386. https:\/\/doi.org\/10.1016\/j.jedc.2012.09.006","journal-title":"J Econ Dyn Control"},{"issue":"2","key":"340_CR23","doi-asserted-by":"publisher","first-page":"551","DOI":"10.1162\/003465304323031102","volume":"86","author":"JP Cohen","year":"2004","unstructured":"Cohen JP, Paul CJM (2004) Public infrastructure investment, interstate spatial spillovers, and manufacturing costs. Rev Econ Stat 86(2):551\u2013560. https:\/\/doi.org\/10.1162\/003465304323031102","journal-title":"Rev Econ Stat"},{"issue":"51","key":"340_CR24","doi-asserted-by":"publisher","first-page":"5543","DOI":"10.1080\/00036846.2018.1487002","volume":"50","author":"JFM De Jong","year":"2018","unstructured":"De Jong JFM, Ferdinandusse M, Funda J (2018) Public capital in the 21st century: as productive as ever? Appl Econ 50(51):5543\u20135560. https:\/\/doi.org\/10.1080\/00036846.2018.1487002","journal-title":"Appl Econ"},{"key":"340_CR25","doi-asserted-by":"crossref","unstructured":"Devadas S, Pennings S (2018) Assessing the effect of public capital on growth: an extension of the World Bank long-term growth model. Policy research working paper; No. 8604. World Bank, Washington, DC. https:\/\/openknowledge.worldbank.org\/handle\/10986\/30569License:CCBY3.0IGO","DOI":"10.1596\/1813-9450-8604"},{"key":"340_CR26","doi-asserted-by":"publisher","DOI":"10.2139\/ssrn.2403885","author":"C Dreger","year":"2014","unstructured":"Dreger C, Reimers H-E (2014) On the relationship between public and private investment in the euro area. SSRN Electron J. https:\/\/doi.org\/10.2139\/ssrn.2403885","journal-title":"SSRN Electron J"},{"issue":"3","key":"340_CR27","first-page":"479","volume":"32","author":"L Erden","year":"2006","unstructured":"Erden L, Holcombe R (2006) The linkage between public and private investment: a co-integration analysis of a panel of developing countries. East Econ J 32(3):479\u2013492","journal-title":"East Econ J"},{"issue":"1","key":"340_CR28","doi-asserted-by":"publisher","first-page":"1","DOI":"10.1016\/0164-0704(95)80001-8","volume":"17","author":"SJ Erenburg","year":"1995","unstructured":"Erenburg SJ, Wohar ME (1995) Public and private investment: are there causal linkages? J Macroecon 17(1):1\u201330. https:\/\/doi.org\/10.1016\/0164-0704(95)80001-8","journal-title":"J Macroecon"},{"issue":"2","key":"340_CR29","first-page":"24","volume":"1","author":"S Farhani","year":"2013","unstructured":"Farhani S (2013) Renewable energy consumption, economic growth and CO2 emissions: evidence from selected MENA countries. Energy Econ Lett 1(2):24\u201341","journal-title":"Energy Econ Lett"},{"key":"340_CR30","doi-asserted-by":"publisher","first-page":"270","DOI":"10.1016\/j.econmod.2014.01.001","volume":"38","author":"S Farhani","year":"2014","unstructured":"Farhani S, Shahbaz M, Sbia R, Chaibi A (2014) What does MENA region initially need: grow output or mitigate CO2 emissions? Econ Model 38:270\u2013281. https:\/\/doi.org\/10.1016\/j.econmod.2014.01.001","journal-title":"Econ Model"},{"key":"340_CR31","doi-asserted-by":"publisher","unstructured":"Faruqee H (2016) Regional economic outlook, April 2016, western hemisphere department: managing transitions and risks. International Monetary Fund, USA. https:\/\/doi.org\/10.5089\/9781498329996.086","DOI":"10.5089\/9781498329996.086"},{"key":"340_CR32","doi-asserted-by":"crossref","unstructured":"Fay M (2000) Financing the future: infrastructure needs in Latin America, 2000\u201305. Policy research working paper no. 2545. World Bank, Washington, DC","DOI":"10.1596\/1813-9450-2545"},{"issue":"447","key":"340_CR33","doi-asserted-by":"publisher","first-page":"399","DOI":"10.1111\/1468-0297.00294","volume":"108","author":"W Fisher","year":"1998","unstructured":"Fisher W, Turnovsky S (1998) Public investment, congestion, and private capital accumulation. Econ J 108(447):399\u2013413","journal-title":"Econ J"},{"key":"340_CR34","doi-asserted-by":"publisher","unstructured":"Fournier J (2016) The positive effect of public investment on potential growth. OECD economics department working papers, no. 1347. OECD Publishing, Paris. https:\/\/doi.org\/10.1787\/15e400d4-en","DOI":"10.1787\/15e400d4-en"},{"issue":"1","key":"340_CR35","first-page":"148","volume":"5","author":"JA Fuinhas","year":"2015","unstructured":"Fuinhas JA, Marques AC, Couto AP (2015) Oil-growth nexus in oil producing countries: macro panel evidence. Int J Energy Econ Policy 5(1):148\u2013163","journal-title":"Int J Energy Econ Policy"},{"issue":"3","key":"340_CR36","first-page":"1176","volume":"32","author":"EM Gramlich","year":"1994","unstructured":"Gramlich EM (1994) Infrastructure investment: a review essay. J Econ Lit 32(3):1176\u20131196","journal-title":"J Econ Lit"},{"key":"340_CR37","unstructured":"Group of Twenty (2014) Communique\u00b4 Meeting of Finance Ministers and Central Bank Governors. Sydney, 22\u201323 February 2014. http:\/\/www.g20.utoronto.ca\/2014\/2014-0223-finance.html. Accessed 18 Dec 2018"},{"key":"340_CR38","doi-asserted-by":"publisher","first-page":"164","DOI":"10.1016\/j.worlddev.2013.11.012","volume":"57","author":"S Gupta","year":"2014","unstructured":"Gupta S, Kangur A, Papageorgiou C, Wane A (2014) Efficiency-adjusted public capital and growth. World Dev 57:164\u2013178. https:\/\/doi.org\/10.1016\/j.worlddev.2013.11.012","journal-title":"World Dev"},{"issue":"4","key":"340_CR39","doi-asserted-by":"publisher","first-page":"1029","DOI":"10.2307\/1912775","volume":"50","author":"LP Hansen","year":"1982","unstructured":"Hansen LP (1982) Large sample properties of generalized method of moments estimators. Econometrica 50(4):1029. https:\/\/doi.org\/10.2307\/1912775","journal-title":"Econometrica"},{"key":"340_CR40","doi-asserted-by":"publisher","first-page":"343","DOI":"10.1016\/j.eneco.2018.06.004","volume":"74","author":"FJ Hasanov","year":"2018","unstructured":"Hasanov FJ, Liddle B, Mikayilov JL (2018) The impact of international trade on CO2 emissions in oil exporting countries: territory vs consumption emissions accounting. Energy Econ 74:343\u2013350. https:\/\/doi.org\/10.1016\/j.eneco.2018.06.004","journal-title":"Energy Econ"},{"issue":"6","key":"340_CR41","doi-asserted-by":"publisher","first-page":"1251","DOI":"10.2307\/1913827","volume":"46","author":"JA Hausman","year":"1978","unstructured":"Hausman JA (1978) Specification tests in econometrics. Econometrica 46(6):1251. https:\/\/doi.org\/10.2307\/1913827","journal-title":"Econometrica"},{"issue":"6","key":"340_CR42","doi-asserted-by":"publisher","first-page":"1371","DOI":"10.2307\/1913103","volume":"56","author":"D Holtz-Eakin","year":"1988","unstructured":"Holtz-Eakin D, Newey W, Rosen HS (1988a) Estimating Vector autoregressions with panel data. Econometrica 56(6):1371. https:\/\/doi.org\/10.2307\/1913103","journal-title":"Econometrica"},{"issue":"6","key":"340_CR43","doi-asserted-by":"publisher","first-page":"1371","DOI":"10.2307\/1913103","volume":"56","author":"D Holtz-Eakin","year":"1988","unstructured":"Holtz-Eakin D, Newey W, Rosen HS (1988b) Estimating vector autoregressions with panel data. Econometrica 56(6):1371. https:\/\/doi.org\/10.2307\/1913103","journal-title":"Econometrica"},{"key":"340_CR44","unstructured":"IMF (2017) Estimating the stock of public capital in 170 countries. Fiscal Affairs Department. https:\/\/www.imf.org\/external\/np\/fad\/publicinvestment\/pdf\/csupdate_jan17.pdf. Accessed 10 Dec 2018"},{"key":"340_CR45","doi-asserted-by":"publisher","unstructured":"International Monetary Fund. Research Department (2014) Chapter 3. is it time for an infrastructure push? The macroeconomic effects of public investment. In: World economic outlook, October 2014: legacies, clouds, uncertainties. International Monetary Fund, USA. https:\/\/doi.org\/10.5089\/9781498331555.081","DOI":"10.5089\/9781498331555.081"},{"issue":"4","key":"340_CR46","doi-asserted-by":"publisher","first-page":"533","DOI":"10.1007\/s10797-005-1780-1","volume":"12","author":"C Kamps","year":"2005","unstructured":"Kamps C (2005) The dynamic effects of public capital: VAR evidence for 22 OECD countries. Int Tax Public Finance 12(4):533\u2013558. https:\/\/doi.org\/10.1007\/s10797-005-1780-1","journal-title":"Int Tax Public Finance"},{"issue":"1","key":"340_CR47","doi-asserted-by":"publisher","first-page":"120","DOI":"10.2307\/30035911","volume":"53","author":"C Kamps","year":"2006","unstructured":"Kamps C (2006) New estimates of government net capital stocks for 22 OECD countries, 1960\u20132001. IMF Staff Pap 53(1):120\u2013150. https:\/\/doi.org\/10.2307\/30035911","journal-title":"IMF Staff Pap"},{"issue":"1","key":"340_CR48","doi-asserted-by":"publisher","first-page":"1","DOI":"10.1016\/S0304-4076(98)00023-2","volume":"90","author":"C Kao","year":"1999","unstructured":"Kao C (1999) Spurious regression and residual-based tests for cointegration in panel data. J Econom 90(1):1\u201344. https:\/\/doi.org\/10.1016\/S0304-4076(98)00023-2","journal-title":"J Econom"},{"key":"340_CR49","doi-asserted-by":"publisher","first-page":"115","DOI":"10.1016\/j.euroecorev.2015.09.006","volume":"81","author":"G Kroop","year":"2016","unstructured":"Kroop G, Korobilis D (2016) Model uncertainty in panel vector autoregressive models. Eur Econ Rev 81:115\u2013131. https:\/\/doi.org\/10.1016\/j.euroecorev.2015.09.006","journal-title":"Eur Econ Rev"},{"key":"340_CR50","doi-asserted-by":"publisher","first-page":"86","DOI":"10.1016\/j.econlet.2019.03.002","volume":"178","author":"Z Liaqat","year":"2019","unstructured":"Liaqat Z (2019) Does government debt crowd out capital formation? A dynamic approach using panel VAR. Econ Lett 178:86\u201390. https:\/\/doi.org\/10.1016\/j.econlet.2019.03.002","journal-title":"Econ Lett"},{"issue":"2","key":"340_CR51","doi-asserted-by":"publisher","first-page":"190","DOI":"10.1016\/J.QREF.2005.11.007","volume":"46","author":"I Love","year":"2006","unstructured":"Love I, Zicchino L (2006) Financial development and dynamic investment behavior: evidence from panel VAR. Q Rev Econ Finance 46(2):190\u2013210. https:\/\/doi.org\/10.1016\/J.QREF.2005.11.007","journal-title":"Q Rev Econ Finance"},{"key":"340_CR52","doi-asserted-by":"publisher","DOI":"10.1007\/978-3-540-27752-1","author":"H L\u00fctkepohl","year":"2005","unstructured":"L\u00fctkepohl H (2005) New introduction to multiple time series analysis. Springer, Berlin. https:\/\/doi.org\/10.1007\/978-3-540-27752-1","journal-title":"Springer, Berlin."},{"key":"340_CR53","unstructured":"Munnell AH (1990) Why has productivity growth declined? productivity and public investment. New England Economic Review, Federal Reserve Bank of Boston, Jan\u2013Feb, pp 3\u201322. http:\/\/www.bos.frb.org\/economic\/neer\/neer1990\/neer190a.pdf. Accessed 20 Dec 2018"},{"key":"340_CR54","doi-asserted-by":"publisher","first-page":"23","DOI":"10.1007\/s10668-018-0153-8","volume":"20","author":"SA Neves","year":"2018","unstructured":"Neves SA, Marques AC, Fuinhas JA (2018) Could alternative energy sources in the transport sector decarbonise the economy without compromising economic growth? Environ Dev Sustain 20:23\u201340. https:\/\/doi.org\/10.1007\/s10668-018-0153-8","journal-title":"Environ Dev Sustain"},{"issue":"4","key":"340_CR55","doi-asserted-by":"publisher","first-page":"631","DOI":"10.2307\/2297912","volume":"61","author":"WK Newey","year":"1994","unstructured":"Newey WK, West KD (1994) Automatic lag selection in covariance matrix estimation. Rev Econ Stud 61(4):631\u2013653. https:\/\/doi.org\/10.2307\/2297912","journal-title":"Rev Econ Stud"},{"issue":"1","key":"340_CR56","doi-asserted-by":"publisher","first-page":"15","DOI":"10.1108\/jabes-04-2018-0003","volume":"25","author":"CT Nguyen","year":"2018","unstructured":"Nguyen CT, Trinh LT (2018) The impacts of public investment on private investment and economic growth. J Asian Bus Econ Stud 25(1):15\u201332. https:\/\/doi.org\/10.1108\/jabes-04-2018-0003","journal-title":"J Asian Bus Econ Stud"},{"issue":"4","key":"340_CR57","doi-asserted-by":"publisher","first-page":"283","DOI":"10.1007\/BF01073521","volume":"6","author":"F Nourzad","year":"1995","unstructured":"Nourzad F, Vrieze MD (1995) Public capital formation and productivity growth: some international evidence. J Prod Anal 6(4):283\u2013295. https:\/\/doi.org\/10.1007\/BF01073521","journal-title":"J Prod Anal"},{"issue":"2","key":"340_CR58","doi-asserted-by":"publisher","first-page":"313","DOI":"10.1093\/aepp\/ppw012","volume":"39","author":"JA N\u00fa\u00f1ez-Serrano","year":"2017","unstructured":"N\u00fa\u00f1ez-Serrano JA, Vel\u00e1zquez FJ (2017) Is public capital productive? Evidence from a meta-analysis. Appl Econ Perspect Policy 39(2):313\u2013345. https:\/\/doi.org\/10.1093\/aepp\/ppw012","journal-title":"Appl Econ Perspect Policy"},{"issue":"S1","key":"340_CR59","doi-asserted-by":"publisher","first-page":"653","DOI":"10.1111\/1468-0084.0610s1653","volume":"61","author":"P Pedroni","year":"1999","unstructured":"Pedroni P (1999) Critical values for cointegration tests in heterogeneous panels with multiple regressors. Oxf Bull Econ Stat 61(S1):653\u2013670. https:\/\/doi.org\/10.1111\/1468-0084.0610s1653","journal-title":"Oxf Bull Econ Stat"},{"key":"340_CR60","doi-asserted-by":"publisher","DOI":"10.1016\/S0731-9053(00)15004-2","author":"P Pedroni","year":"2000","unstructured":"Pedroni P (2000) Fully modified OLS for heterogeneous cointegrated panels. Adv Econom. https:\/\/doi.org\/10.1016\/S0731-9053(00)15004-2","journal-title":"Adv Econom"},{"issue":"4","key":"340_CR61","doi-asserted-by":"publisher","first-page":"727","DOI":"10.1162\/003465301753237803","volume":"83","author":"P Pedroni","year":"2001","unstructured":"Pedroni P (2001) Purchasing power parity tests in cointegrated panels. Rev Econ Stat 83(4):727\u2013731. https:\/\/doi.org\/10.1162\/003465301753237803","journal-title":"Rev Econ Stat"},{"issue":"3","key":"340_CR62","doi-asserted-by":"publisher","first-page":"597","DOI":"10.1017\/S0266466604203073","volume":"20","author":"P Pedroni","year":"2004","unstructured":"Pedroni P (2004) Panel cointegration: asymptotic and finite sample properties of pooled time series tests with an application to the PPP hypothesis. Econometric Theory 20(3):597\u2013625. https:\/\/doi.org\/10.1017\/S0266466604203073","journal-title":"Econometric Theory"},{"issue":"4","key":"340_CR63","doi-asserted-by":"publisher","first-page":"1","DOI":"10.35866\/caujed.2013.38.4.001","volume":"38","author":"AM Pereira","year":"2013","unstructured":"Pereira AM, Andraz JM (2013) On the economic effects of public infrastructure investment: a survey of the international evidence. J Econ Dev 38(4):1\u201337","journal-title":"J Econ Dev"},{"key":"340_CR64","doi-asserted-by":"crossref","unstructured":"Perotti R (2004) Estimating the effects of fiscal policy in OECD countries. IGIER working paper no. 276. http:\/\/dx.doi.org\/10.2139\/ssrn.637189","DOI":"10.2139\/ssrn.637189"},{"key":"340_CR65","doi-asserted-by":"crossref","unstructured":"Pesaran MH (2004) General diagnostic tests for cross section dependence in panels. CESifo working paper series no. 1229; IZA discussion paper no. 1240. https:\/\/ssrn.com\/abstract=572504. Accessed 21 Dec 2018","DOI":"10.2139\/ssrn.572504"},{"issue":"2","key":"340_CR66","doi-asserted-by":"publisher","first-page":"265","DOI":"10.1002\/jae.951","volume":"22","author":"MH Pesaran","year":"2007","unstructured":"Pesaran MH (2007) A simple panel unit root test in the presence of cross-section dependence. J Appl Econom 22(2):265\u2013312. https:\/\/doi.org\/10.1002\/jae.951","journal-title":"J Appl Econom"},{"key":"340_CR68","doi-asserted-by":"publisher","first-page":"17","DOI":"10.1016\/j.jdeveco.2015.12.005","volume":"120","author":"AF Presbitero","year":"2016","unstructured":"Presbitero AF (2016) Too much and too fast? Public investment scaling-up and absorptive capacity. J Dev Econ 120:17\u201331. https:\/\/doi.org\/10.1016\/j.jdeveco.2015.12.005","journal-title":"J Dev Econ"},{"issue":"4","key":"340_CR69","doi-asserted-by":"publisher","first-page":"361","DOI":"10.1023\/A:1026551519329","volume":"5","author":"L Pritchett","year":"2000","unstructured":"Pritchett L (2000) The tyranny of concepts: CUDIE (cumulated, depreciated, investment effort) is not capital. J Econ Growth 5(4):361\u2013384. https:\/\/doi.org\/10.1023\/A:1026551519329","journal-title":"J Econ Growth"},{"issue":"1","key":"340_CR70","doi-asserted-by":"publisher","first-page":"115","DOI":"10.1111\/1467-9361.00179","volume":"7","author":"MD Ramirez","year":"2003","unstructured":"Ramirez MD, Nazmi N (2003) Public investment and economic growth in Latin America: an empirical test. Rev Dev Econ 7(1):115\u2013126. https:\/\/doi.org\/10.1111\/1467-9361.00179","journal-title":"Rev Dev Econ"},{"issue":"SPEC. ISSUE","key":"340_CR71","doi-asserted-by":"publisher","first-page":"6","DOI":"10.1111\/1468-2516.00242","volume":"8","author":"W Romp","year":"2007","unstructured":"Romp W, Haan J De (2007) Public capital and economic growth: a critical survey. Perspektiven Der Wirtschaftspolitik 8(SPEC. ISSUE):6\u201352. https:\/\/doi.org\/10.1111\/1468-2516.00242","journal-title":"Perspektiven Der Wirtschaftspolitik"},{"key":"340_CR72","doi-asserted-by":"crossref","unstructured":"Ruiz-Nu\u00f1ez F, Wei Z (2015) Infrastructure investment demands in emerging markets and developing economies. World Bank policy research working paper no. 7414. World Bank, Washington, DC","DOI":"10.1596\/1813-9450-7414"},{"key":"340_CR73","doi-asserted-by":"publisher","first-page":"317","DOI":"10.1016\/j.rser.2015.06.005","volume":"51","author":"M Salahuddin","year":"2015","unstructured":"Salahuddin M, Gow J, Ozturk I (2015) Is the long-run relationship between economic growth, electricity consumption, carbon dioxide emissions and financial development in Gulf Cooperation Council Countries robust? Renew Sustain Energy Rev 51:317\u2013326. https:\/\/doi.org\/10.1016\/j.rser.2015.06.005","journal-title":"Renew Sustain Energy Rev"},{"key":"340_CR74","doi-asserted-by":"publisher","first-page":"221","DOI":"10.1016\/j.eneco.2016.11.008","volume":"61","author":"M Shahbaz","year":"2017","unstructured":"Shahbaz M, Nasreen S, Ahmed K, Hammoudeh S (2017) Trade openness\u2013carbon emissions nexus: the importance of turning points of trade openness for country panels. Energy Econ 61:221\u2013232. https:\/\/doi.org\/10.1016\/j.eneco.2016.11.008","journal-title":"Energy Econ"},{"issue":"3","key":"340_CR75","doi-asserted-by":"publisher","first-page":"205","DOI":"10.1023\/A:1011395732433","volume":"6","author":"E Shioji","year":"2001","unstructured":"Shioji E (2001) Public capital and economic growth: a convergence approach. J Econ Growth 6(3):205\u2013227. https:\/\/doi.org\/10.1023\/A:1011395732433","journal-title":"J Econ Growth"},{"issue":"1","key":"340_CR76","doi-asserted-by":"publisher","first-page":"65","DOI":"10.2307\/1884513","volume":"70","author":"RM Solow","year":"1956","unstructured":"Solow RM (1956) A contribution to the theory of economic growth. Q J Econ 70(1):65. https:\/\/doi.org\/10.2307\/1884513","journal-title":"Q J Econ"},{"key":"340_CR77","doi-asserted-by":"crossref","unstructured":"Straub S (2008) Infrastructure and growth in developing countries: recent advances and research challenges. Policy research working paper series 4460. The World Bank","DOI":"10.1596\/1813-9450-4460"},{"key":"340_CR78","doi-asserted-by":"publisher","first-page":"359","DOI":"10.1007\/978-1-349-26732-3_14","volume-title":"Market behaviour and macroeconomic modelling","author":"J-E Sturm","year":"1998","unstructured":"Sturm J-E, Kuper GH, de Haan J (1998) Modelling government investment and economic growth on a macro level: a review. In: Brakman S, van Ees H, Kuipers SK (eds) Market behaviour and macroeconomic modelling. Palgrave Macmillan, London, pp 359\u2013406. https:\/\/doi.org\/10.1007\/978-1-349-26732-3_14"},{"issue":"3","key":"340_CR79","doi-asserted-by":"publisher","first-page":"297","DOI":"10.1080\/07474930500243019","volume":"24","author":"J Westerlund","year":"2005","unstructured":"Westerlund J (2005) New simple tests for panel cointegration. Econom Rev 24(3):297\u2013316. https:\/\/doi.org\/10.1080\/07474930500243019","journal-title":"Econom Rev"},{"issue":"6","key":"340_CR80","doi-asserted-by":"publisher","first-page":"709","DOI":"10.1111\/j.1468-0084.2007.00477.x","volume":"69","author":"J Westerlund","year":"2007","unstructured":"Westerlund J (2007) Testing for error correction in panel data. Oxf Bull Econ Stat 69(6):709\u2013748. https:\/\/doi.org\/10.1111\/j.1468-0084.2007.00477.x","journal-title":"Oxf Bull Econ Stat"}],"container-title":["International Review of Economics"],"original-title":[],"language":"en","link":[{"URL":"http:\/\/link.springer.com\/content\/pdf\/10.1007\/s12232-019-00340-x.pdf","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"http:\/\/link.springer.com\/article\/10.1007\/s12232-019-00340-x\/fulltext.html","content-type":"text\/html","content-version":"vor","intended-application":"text-mining"},{"URL":"http:\/\/link.springer.com\/content\/pdf\/10.1007\/s12232-019-00340-x.pdf","content-type":"application\/pdf","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2022,10,7]],"date-time":"2022-10-07T21:29:09Z","timestamp":1665178149000},"score":1,"resource":{"primary":{"URL":"http:\/\/link.springer.com\/10.1007\/s12232-019-00340-x"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2019,12,6]]},"references-count":81,"journal-issue":{"issue":"3","published-print":{"date-parts":[[2020,9]]}},"alternative-id":["340"],"URL":"https:\/\/doi.org\/10.1007\/s12232-019-00340-x","relation":{},"ISSN":["1865-1704","1863-4613"],"issn-type":[{"value":"1865-1704","type":"print"},{"value":"1863-4613","type":"electronic"}],"subject":[],"published":{"date-parts":[[2019,12,6]]},"assertion":[{"value":"17 May 2019","order":1,"name":"received","label":"Received","group":{"name":"ArticleHistory","label":"Article History"}},{"value":"29 November 2019","order":2,"name":"accepted","label":"Accepted","group":{"name":"ArticleHistory","label":"Article History"}},{"value":"6 December 2019","order":3,"name":"first_online","label":"First Online","group":{"name":"ArticleHistory","label":"Article History"}},{"order":1,"name":"Ethics","group":{"name":"EthicsHeading","label":"Compliance with ethical standards"}},{"value":"The authors declare that they have no conflict of interest.","order":2,"name":"Ethics","group":{"name":"EthicsHeading","label":"Conflict of interest"}}]}}