ABSTRACT

We use the Stochastic Frontier Approach to analyse for the first time the regions’ investment response to the central and local governments’ capital expenditure. The Spanish context is very interesting for this analysis because responsibilities are distributed between the three levels of government in a very interesting dual way: the distribution of spending responsibilities between central and regional governments corresponds to an exclusionary attribution of functions, while between regional and local levels, governments opt for cooperation. Results show that capital expenditure undertaken by the central government in the regions acts as substitute for regional investment, while capital expenditure by local governments appears to complement it. These results should be taken into account by public administrations when designing the distribution of responsibilities between different levels of government and their economic policy aims.

摘要

我们首次使用随机前沿法分析了地区对中央和地方政府资本支出的投资反应。西班牙的背景对于这项分析非常有趣，因为责任以非常有趣的双重方式在三级政府之间分配：中央和地区政府之间的支出责任分配对应于功能的排他性归属，而在地区和地方级别之间，政府选择合作。结果表明，中央政府在区域内承担的资本支出是对区域投资的替代，而地方政府的资本支出似乎是对区域投资的补充。