Table 4 Road
From: Estimating the contribution of infrastructure to national productivity in Europe
Main | Human capital | Tax | Trade | |
|---|---|---|---|---|
Investment | 0.3160 | 0.3922 | 0.3234 | 0.2288 |
Population growth | 0.3269 | −0.0013 | −1.4200 | 0.6536 |
Human capital | - | 0.4231 | - | - |
Trend | 0.0266 | 0.0194 | 0.0258 | 0.0198 |
AT (Over-investing) | −0.5343*** + (19) | −0.5049** ++ (17) | −0.5268*** ++ (19) | −0.1069 + (19) |
BE (Under-investing) | 3.1721*** + (16) | 3.0996*** ++ (16) | 3.1329*** ++ (16) | 2.0762*** ++ (16) |
BG | −0.0732 (17) | −0.0322 ++ (12) | −0.0735 (17) | −0.0698 (17) |
CH | 0.6240 +++ (24) | 0.4826 + (16) | 0.6897* +++ (22) | −0.0807 +++ (24) |
CY | 0.7480* (17) | 0.6332** +++ (13) | 0.4452* (17) | 0.4204 + (17) |
CZ | 0.6683 + (18) | 3.4612*** + (13) | 0.3250 ++ (16) | 0.6061 + (18) |
DE | - | - | - | - |
DK | 1.0698*** (34) | −0.9564 +++ (17) | −0.5914 + (14) | 0.8371*** + (34) |
EE | 0.2351 ++ (19) | 1.2578* ++ (14) | 0.2701 + (17) | 0.2248 ++ (19) |
EL | - | - | - | - |
ES (Under-investing) | 0.4069*** (32) | 0.8856*** (20) | 1.0523*** +++ (17) | −0.0186 +++ (32) |
FI | 0.0241 (22) | −0.2659 + (17) | 0.0446 (22) | −0.0474 (22) |
FR (Under-investing) | 1.0486*** (20) | 0.8554*** + (19) | 0.5674** ++ (20) | 0.0738 (20) |
HU | 0.0474* (15) | 0.0433 (13) | 0.0381 (15) | 0.0757** (15) |
IE (Under-investing) | 3.0781*** ++ (15) | 2.1653*** ++ (15) | 2.1079** +++ (15) | 1.5051** ++ (15) |
IT | 0.0011 (21) | −0.0226 ++ (19) | −0.0015 (21) | −0.0200 (21) |
LT | −0.6858** (17) | 2.5951* +++ (14) | −0.5701** ++ (17) | −0.7075** (17) |
LU | −0.1117 + (15) | −0.0396 + (15) | −0.2573** + (15) | −0.0180 + (15) |
LV (Over-investing) | −1.7923* + (17) | −0.9026 ++ (14) | −0.9356 ++ (17) | −1.9140* ++ (17) |
MT | 0.8976 (10) | 0.9448* (10) | 1.0045 (10) | 0.6373 (10) |
NL (Under-investing) | 0.4599*** ++ (33) | 0.4268 ++ (16) | 0.6915*** +++ (17) | 0.1033 ++ (33) |
NO | 3.6333*** (24) | 2.6966** (16) | 2.3772* ++ (17) | 2.4351*** + (24) |
PL | −0.0091 (17) | −0.0493 ++ (15) | 0.0094 +++ (17) | 0.0121 (17) |
PT (Under-investing) | 0.0167 +++ (17) | 0.0160 +++ (17) | 0.0427** ++ (17) | 0.0518** ++ (17) |
RO | 0.1555 (16) | −0.2571 (15) | 0.0044 (16) | 0.2410 (16) |
SE | 0.0044 ++ (40) | −1.2814 (15) | −1.0097 (17) | −0.0431 ++ (40) |
SI (Under-investing) | 3.0219*** ++ (22) | 0.1755 + (16) | 0.7040 + (20) | 0.7926** +++ (22) |
SK | 0.0410 +++ (20) | −0.0404 +++ (14) | 0.0666* +++ (19) | 0.0420 +++ (20) |
UK | 0.2532 +++ (37) | −2.0241*** + (20) | −0.4538 + (22) | 0.2381 ++ (37) |
Error-correction term | −0.6143 | −1.0933 | −0.8539 | −0.6569 |
Adjusted R2 (long-run) | 0.956 | 0.960 | 0.955 | 0.968 |
Adjusted R2 (short-run) | 0.575 | 0.721 | 0.671 | 0.722 |
F-statistic (long-run) | 466.6 | 236.7 | 346.6 | 582.8 |
F-statistic (short-run) | 9.9 | 14.1 | 12.5 | 18.7 |