@article{oai:nagoya.repo.nii.ac.jp:00008984, author = {小西, 葉子 and KONISHI, Yoko}, issue = {3}, journal = {経済科学}, month = {Dec}, note = {This paper provides an empirical analysis of productivity and efficiency of public capital stock using a panel data of Japanese prefectures. In order to avoid the biased estimation that may arise from labour movement and spillover effects of public capital stock across the prefectures, we classify 46 prefectures into 11 clusters of Hokkaido-Tohoku, North-Kanto, South-Kanto, Hokuriku, Koshinetsu, Tokai, Kinki, Chugoku, Shikoku, North-Kyusyu and South-Kyusyu. Firstly, we estimate production function to observe the productivity of public capital stock. Secondly, marginal productivity of public capital is compared with that of private capital to check whether public capital stock is optimally allocated in the sense of the Arrow and Kurz’s (1970) first best criterion. Our findings indicate that the public capital stock was insufficient in North-Kanto, South-Kanto, Hokuriku, Tokai and Chugoku areas. In contrast, there was excess public capital stock in Hokkaido-Tohoku, Koshinetsu, Kinki, Shikoku, North-Kyusyu, and South-Kyusyu areas.}, pages = {75--86}, title = {わが国における地域別社会資本投資の生産性と効率性}, volume = {52}, year = {2004} }