世界银行：重新审视公共资本需求：基于效率和拥堵效应的增长最大化投资分析（英文版）

This paper estimates growth-maximizing levels of public capital and investment across countries using a structural framework that accounts for three critical features: public investment efficiency, human capital levels, and congestion effects. A harmonized panel data set covering 166 countries over 1960–2024 was assembled to estimate public capital output elasticities for the entire sample and for countries clustered by income group. These estimates are used to calibrate an endogenous growth