2021 Volume 76 Issue 5 Pages I_339-I_351
In this paper, we analyzed the effect of infrastructure on increase in productivity (total factor productivity, marginal productivity of private capital stock and marginal productivity of labor) after the high economic growth period in Japan by estimating various type of production function for each period, industry, category of infrastructure and definition of infrastructure stock. We estimated panel data on the same basis for 47 prefectures from 1955 to 2015 of production, private capital stock, the number of workers, the rate of private capital utilization, the average working hours for each industry and infrastructure. And we used these data for the estimation of production functions. As a result of the analysis, it is indicated that whether or not there is the effect of infrastructure depends on period, industry, category of infrastructure, definition of infrastructure stock and type of production function. And it is also indicated that the effect of infrastructure on increase in total factor productivity in the 3rd industry continues to exits after 2000 in Japan.
