Publication: Inversión pública, inversión en defensa y progreso tecnológico: análisis con base en un modelo DSGE
Loading...
Official URL
Full text at PDC
Publication Date
2017
Advisors (or tutors)
Editors
Journal Title
Journal ISSN
Volume Title
Publisher
Instituto Complutense de Estudios Internacionales (ICEI)
Citations
Exportar
Abstract
El presente trabajo sostiene la importancia de la inversión en defensa, como parte de la inversión pública, en la potenciación de la base industrial y tecnológica del país y en el desarrollo de sectores productivos innovadores. El análisis se realiza a través de un modelo de equilibrio general dinámico estocástico (DSGE). La principal conclusión que se deduce es que el aumento en la inversión pública, cuando es complementaria del progreso tecnológico asociado a la inversión privada, se traduce en un crecimiento de la producción, el empleo, la inversión y la productividad en el conjunto de la economía. En consecuencia, en la medida que la inversión pública en defensa es generadora de innovación y progreso tecnológico, también contribuye de forma positiva al crecimiento del país.
This paper argues the importance of investment in defense, as part of public investment in enhancing the industrial and technological base of the country as well as in the development of innovative productive sectors. The analysis is performed through models of dynamic stochastic general equilibrium (DSGE). The main conclusion is that the increase in public investment, when it is complementary to the technological progress associated with private investment, translates into higher growth of production, employment, investment and productivity in the whole economy. Accordingly, to the extent that public investment in defense is generating innovation and technological progress, also it contributes positively to growth.
This paper argues the importance of investment in defense, as part of public investment in enhancing the industrial and technological base of the country as well as in the development of innovative productive sectors. The analysis is performed through models of dynamic stochastic general equilibrium (DSGE). The main conclusion is that the increase in public investment, when it is complementary to the technological progress associated with private investment, translates into higher growth of production, employment, investment and productivity in the whole economy. Accordingly, to the extent that public investment in defense is generating innovation and technological progress, also it contributes positively to growth.
Description
Monográfico: El entorno económico-estratégico de la defensa
UCM subjects
Unesco subjects
Keywords
Citation
C AI, SP CASSOU (1995): “A normative analysis of public capital” Applied Economics 27 (12), 1201-1209.
ASCHAUER, D. A. (1989): "Is public expenditure productive?", Journal of Monetary Economics, 23: 177-200.
ARROW, K.J. y KURZ, M. (1970): “Public investment, the rate of retum, and optimal fiscal policy”, Johns Hopkins Press, Baltimore.
BARRO, R. J. (1990). "Government Spending in a Simple Model of Endogenous Growth". Journal of Political Economy, vol. 98, nº. 5, 101-125.
BAXTER, M. Y R.C. KING (1993). ”Fiscal Policy in General Equilibrium”. American Economic Review, 83, 315-334.
CASSOU, S. y LANSING, K. (1998), Optimal fiscal policy, public capital and the productivity slowdown, Journal of Economic Dynamics and Control, 22, 911-935.
DE LA FUENTE, A. (2003), El impacto de los Fondos Estructurales: Convergencia real y cohesión interna, Hacienda Pública Española/ Revista de Economía Pública, 165, 129-148.
FINN, M. (1993). Is all government capital productive?, Federal Reserve Bank of Richmond Economic Quarterly, 79, 53-80.
GARCÍA ALONSO, J. M. (2010): La base industrial de la defensa en España. Ministerio de Defensa. Madrid.
GLOMM, G. Y B. RAVIKUMAR (1994), “Public investment in infrastructure in a simple growth model”, Journal of Economic Dynamics and Control, 18: 1173-1187.
GONZALO F_ de CORDOBA y TORRES, J.L. (2014), “National Security, Military Spending and the Busines Cycle” Defence and Peace Economics, 2014.
GREENWOOD, J., HERCOWITZ, Z. y HUFFMAN, G. (1988): Investment, capacity utilization and the real business cycle. American Economic Review 78(3), 402-417.
GREENWOOD, J., HERCOWITZ, Z. y KRUSELL, P. (1997): Long-run -implication of investment-specific technological change, American Economic Review, 87, 342-362.
GUO, J. y LANSING, K. (1997), Tax structure and welfare in a model of optimal fiscal policy, Economic Review Federal Reserve Bank of Cleveland, 1, 11-23.
HULTEN, C.R. y SCHWAB, R.M. (1993), Infrastructure spending: where do we go from here?, National Tax Journal, 46, 261-273.
JIMENEZ BASTIDA, JOSE LORENZO (2016), Tesis Doctoral “Un análisis macroeconómico de los efectos de la inversión en defensa nacional sobre la base industrial y tecnológica en España”, Universidad Rey Juan Carlos, Facultad de Ciencias Jurídicas y Sociales.
MANZANO, B. (2002): “Inversión pública óptima en un modelo de ciclo real”, Investigaciones económicas, vol. XXXVI (1), 7-34.
MAS, M., MAUDOS, .J., PÉREZ, F. y URIEL, E. (1996), Infrastructures and productivity in the Spanish regions, Regional Studies, 30, 641-649.
PAVITT, K. y PATEL, P. (1988) “The International Distribution and Determinants of Technological Activities”. Oxford Review of Economic Policy, vol.4, nº 4, 35-55.
TORRES, J. L. (2009): Capital público y crecimiento económico en España 1980-2004. Hacienda Pública Española/Revista de Economía Pública, 188(1), 31-53.
TORRES, J. L., (2013): "Introduction to Dynamic Macroeconomic General Equilibrium Models”. Vernon Series in Economic Methodology.