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TRENDS IN U.S. PUBLIC WORKS INVESTMENT: REPORT ON A NEW STUDY

Our purpose in this paper is to report to readers of this Journal the major findings of a just completed study¹ of public works investment in the U.S. initiated by the 95th Congress in 1977. We wish to acquaint public finance specialists with the origin, purpose, and conclusions of this study as well as recommendations about public works investment research which evolved during its conduct.