Working Paper No. 233
April 01, 1998

Public Capital and Economic Growth

Issues of Quantity, Finance, and Efficiency

by David Alan Aschauer

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Bard College
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The Levy Economics Institute of Bard College, founded in 1986 through the generous support of Bard College trustee Leon Levy, is a nonprofit, nonpartisan, public policy research organization. The Levy Institute is independent of any political or other affiliation, and encourages diversity of opinion in the examination of economic policy issues while striving to transform ideological arguments into informed debate.