The Composition of Social Infrastructure and Economic Growth: Modeling a Multi Sector Framework

The composition of social infrastructure & economic growth

modelling a multi-sector framework

seminar project

submitted on: June 12, 2012

Institute of Economic Theory, -Policy and -History Faculty of Public Economics and Statistics, Leopold-Franzens-University Innsbruck

authors: ID: class: program: year:

Mennel Simon Thomas, Meusburger Josef Simon, Kleinhans Thomas 0816296, 0817769, 0715041 LV 432171-0 12S applied economics WS 2011

Contents
1 Introduction 2 Building up the theoretical framework 2.1 2.2 2.3 Economic Infrastructure . . . . . . . . . . . . . . . . . . . . . . . Social Infrastructure . . . . . . . . . . . . . . . . . . . . . . . . . Determining the role of Social Infrastructure . . . . . . . . . . . . 4 4 5 5 6 7 8 8 8 8 9 9 9 10 10 11 11 12

3 The Model 4 Empirical Results 4.1 Data Source and Transformation . . . . . . . . . . . . . . . . . . 4.1.1 4.1.2 4.1.3 4.1.4 4.1.5 4.1.6 4.1.7 4.2 Gross Domestic Product (GDP) . . . . . . . . . . . . . . . Absolute Public Social Spending (PSS) . . . . . . . . . . . Absolute Private Health Spending (PHS) . . . . . . . . . . Absolute Public Health Spending (PUHS) . . . . . . . . . Absolute Education Spending (ESP) . . . . . . . . . . . . Total Labour Force (TLF) . . . . . . . . . . . . . . . . . . Expenditure on R&D (RD) . . . . . . . . . . . . . . . . .

Empirical Analysis . . . . . . . . . . . . . . . . . . . . . . . . . .

5 Interpretation and Conclusion Literatur

List of Figures
1 2 3 4 5 6 7 Gross Domestic Product . . . . . . . . . . . . . . . . . . . . . . . Absolute Public Social Spending . . . . . . . . . . . . . . . . . . . Absolute Private Health Spending . . . . . . . . . . . . . . . . . . Absolute Public Health Spending . . . . . . . . . . . . . . . . . . Absolute Education Spending . . . . . . . . . . . . . . . . . . . . Total Labour Force . . . . . . . . . . . . . . . . . . . . . . . . . . Research and Development . . . . . . . . . . . . . . . . . . . . . . 8 8 9 9 9

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