Trends in the regional allocation of public investment in the post-bubble Japanese economy
Trends in the regional allocation of public investment in the post-bubble Japanese economy
复制标题
泡沫后日本经济公共投资的区域配置趋势
DOI：
10.1007/s12076-013-0112-9
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发表时间：
2013
影响因子：
1.8
通讯作者：
M
中科院分区：
文献类型：
--
作者：
Kataoka;M
本文参照Yamano and Ohkawara（J Reg Sci 40：205-229，2000）关于公共资本的地区影响的生产函数的设定的假设，引入新的基准指数，分析日本政府在地方政府间的投资分配政策，重点关注效率、公平和权衡限制下的再分配。这个指数，在这里被称为公共投资的权益增长分配份额，是从传统的索洛增长会计方法得出的。具体而言，它被定义为一个地区在国家公共资本周期性变化中所占的份额，其增长贡献及其区域间溢出效应对总体产出增长的贡献在国家以下地区是相同的。我们将该指数应用于泡沫经济后的日本经济，日本经济受到东京单极发展与长期衰退下的平衡增长之间的效率-公平权衡的困扰。我们发现，在20世纪90年代中期，从亲效率到非亲效率的分配政策的转变。因此，这一发现排除了政府此后选择了相反政策方向的推论，而是意味着政府试图平衡效率和再分配。
With reference to the assumptions presented by Yamano and Ohkawara (J Reg Sci 40:205–229, 2000) on the specification of a production function with region-specific individual effects on public capital, this paper introduces a new benchmark index in order to analyze the Japanese government’s investment allocation policy across subnational regions, with an emphasis on efficiency, equity, and/or redistribution under trade-off restrictions. This index, termed the equity–growth allocation share of public investment herein, is derived from a conventional Solow growth accounting approach. Specifically, it is defined as a region’s share of the periodic change in the nation’s public capital, where its growth contribution with its interregional spillover effects to overall output growth is the same across subnational regions. We apply this index to the post-bubble Japanese economy, which was beset by efficiency–equity trade-offs between Tokyo’s unipolar development and balanced growth given a prolonged recession. We find a shift from a pro-efficiency to a non-pro-efficiency allocation policy in the mid-1990s. This finding therefore rules out the inference that the government chose an inverse policy direction thereafter and instead implies that it rather attempted to balance efficiency and redistribution.