Genuine Economic Retums to Infrastructure Investment
In: Policy studies journal: an international journal of public policy, Band 21, Heft 2, S. 380-390
ISSN: 0190-292X
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In: Policy studies journal: an international journal of public policy, Band 21, Heft 2, S. 380-390
ISSN: 0190-292X
In: Zeitschrift für Außen- und Sicherheitspolitik: ZFAS, Band 8, Heft 3, S. 309-314
ISSN: 1866-2188
World Affairs Online
In: IMF working paper WP/15/180
Infrastructure bottlenecks have been identified as a key obstacle to growth affecting productivity and market efficiency, and hindering domestic integration and export performance. This paper assesses the state of Brazil's infrastructure, in light of past investment trends and various quality and quantity indicators. Brazil's infrastructure stock and its quality rank low in relation to that of comparator countries, chosen amongst main export competitors. We provide evidence that infrastructure affects domestic integration by analyzing price convergence of tradable goods across major cities. The government's concession program will narrow part of the infrastructure gap, however, governance reforms will be crucial to improving investment efficiency. --Abstract
In: IMF Working Paper No. 15/180
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In: Directions in development
In: Infrastructure
Policy makers are often confronted with a myriad of factors in the investment decision-making process. This issue is particularly acute in infrastructure investment decisions, as these often involve significant financial resources and lock-in technologies. In regions and countries where the infrastructure access gap is large and pubic budgets severely constrained, the importance of considering the different facets of the decision-making process becomes even more relevant. This paper discusses the trade-offs policy makers confront when attempting to prioritize infrastructure investments, in particular with regard to economic growth and welfare, and proposes a methodological framework for prioritizing infrastructure projects and portfolios that holistically equates such trade-offs, among others. The analysis suggests that it is not desirable to have a single methodology, providing a single ranking of infrastructure investments, because of the complexities of infrastructure investments. Rather, a multidisciplinary approach should be taken. Decision makers will also need to account for factors that are often not easily measured. While having techniques that enable logical frameworks in the decision-making process of establishing priorities is highly desirable, they are no substitute for consensus building and political negotiations.
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In: Zeitschrift für Außen- und Sicherheitspolitik: ZFAS, Band 8, Heft 3, S. 309-314
ISSN: 1866-2196
In: The public manager: the new bureaucrat, Band 38, Heft 2, S. 71
ISSN: 1061-7639
In: NBER Working Paper No. w27625
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Working paper
In: The Canadian journal of economics: the journal of the Canadian Economics Association = Revue canadienne d'économique, Band 36, Heft 4, S. 884-910
ISSN: 1540-5982
Abstract. Modelling infrastructure as an international public good in a two‐country model of trade where each country's social planner behaves strategically, we show that, in general, the equilibrium levels of infrastructure are not optimal from a global perspective. Utilizing an appropriate econometric framework and data from 16 European countries over the period 1987–95, we find evidence that is consistent with the predictions of our model. JEL Classification: F10, F42, H42Aspects internationaux de l'investissement public dans les infrastructures. Les auteurs présentent un modèle de commerce international entre deux pays dans lequel (1) les planificateurs des deux pays ont un comportement stratégique et (2) les infrastructures sont un bien public international. Ils montrent que, en général, les niveaux d'équilibre des investissements en infrastructure ne sont pas optimaux d'un point de vue global. A l'aide d'un cadre économétrique approprié, et de données pour 16 pays européens entre 1987 et 1995, ils valident les prédictions de leur modèle.
In: Competitive Electricity Markets, S. 387-416
In: Agenda: a journal of policy analysis & reform, Band 10, Heft 2
ISSN: 1447-4735