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Preventing competition because of “solidarity”: Rhetoric and reality of airport investments in Spain

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Bel, Germà; Fageda, Xavier

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Abstract From a public interest perspective, there could be a justification for constraining market mechanisms with the aim of progressive redistribution. However, some policies might be based on selfish motivations of government agents. In this paper, we empirically contrast if the infrastructure policy is based only on public interest motivations or if it is also based on the private motivations of policy makers. In this way, Spain infrastructure policy provides a useful policymaking field to test hypothesis about the behavior of policy makers. We find some evidence regarding the strength of political motivations in explaining such behavior. In fact, results from our analysis show that political motivations can eventually play a more relevant role than social welfare maximization.
Document language English
Publication Year 2009
Page/Pages p. 2853-2865
Journal Applied Economics, 41 (2009) 22
Status Postprint; peer reviewed
Licence PEER Licence Agreement (applicable only to documents from PEER project)