Abstract In the standard literature, empirical assessments of the productivity effects of infrastructure are marked by contradictory results with little robustness. In this context, this paper tests the effects of public infrastructure on the total factor productivity (TFP) of Indian manufacturing industries. We utilize a new productivity database on Indian manufacturing for the period 1980–2012, as well as a range of infrastructure measures, for empirical analysis. Based on a bootstrap based test, preliminary evidence is found for cointegration between infrastructure and TFP of various manufacturing sectors. Next, the productivity effects of infrastructure are estimated using a cross-sectionally augmented pooled mean group estimator, where we control for sectoral dependence, endogeneity and heterogenous effects of infrastructure across various sectors. Overall, the results of the analysis confirm the presence of a positive and sizeable effect of infrastructure on manufacturing productivity. We find wide disparities in the productivity effects of different types of infrastructure such as road, rail, energy, port and telecommunication. Specifically, the results show that 1 percent increase in the aggregate infrastructure stock results in productivity growth by 0.16 percent. Policy recommendations are made on the basis of these findings.

中文翻译：

---

基础设施能否刺激全要素生产率？印度制造业的动态异质面板分析

摘要 在标准文献中，对基础设施生产力影响的实证评估以相互矛盾的结果为特征，几乎没有稳健性。在此背景下，本文测试了公共基础设施对印度制造业全要素生产率 (TFP) 的影响。我们利用 1980 年至 2012 年期间印度制造业的新生产力数据库以及一系列基础设施措施进行实证分析。基于基于引导程序的测试，发现了基础设施与各制造业全要素生产率之间协整的初步证据。接下来，使用横截面增强的合并平均组估计量估计基础设施的生产力影响，我们控制部门依赖性，不同部门基础设施的内生性和异质性影响。总体而言，分析结果证实了基础设施对制造业生产力的积极和相当大的影响。我们发现不同类型的基础设施（如公路、铁路、能源、港口和电信）对生产力的影响存在很大差异。具体而言，结果表明，基础设施总存量增加 1% 会导致生产率增长 0.16%。政策建议是在这些调查结果的基础上提出的。港口和电信。具体而言，结果表明，基础设施总存量增加 1% 会导致生产率增长 0.16%。政策建议是在这些调查结果的基础上提出的。港口和电信。具体而言，结果表明，基础设施总存量增加 1% 会导致生产率增长 0.16%。政策建议是在这些调查结果的基础上提出的。