Resumen de Optimal endowments of public investment:: an empirical analysis for the Spanish regions

Oscar Bajo Rubio, María del Carmen Díaz Roldán, María Dolores Montávez Garcés

• The aim of this paper is to analyse the degree of optimality of the endowments of public capital in the Spanish regions. To this end, we will estimate a growth equation derived from a simple production function, where the coefficients on the rates of investment in private and government capital would be their respective marginal products. By comparing the estimates of the marginal products for both factors, we would be able to infer whether the public capital stock in the Spanish regions is underprovided or not.