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The aim of this paper is to find the relationship among government and private capital formation in Pakistan during the period 1981 to 2018. This study employs Auto Regressive Distributive Lag (ARDL) bound test. The results show that government infrastructure investment negatively effects on private infrastructure capital formation in long run and short run, indicating that government infrastructure investment crowds out private infrastructure investment. In determining the role of the government in investment and liberalization policies, the results of this paper have important policy implications.

International Journal of Transport Economics, October 1990. ; Refereed Journal Article ; Since the 1973/74 oil price increases, Saudi Arabia has embarked a major program of infrastructure expansion. The purpose of this program is to alleviate the many bottlenecks hindering increases in the country's non-oil productive sectors. The purpose of this paper is to examine the effectiveness of the country's infrastructure program. In particular has the Saudi Arabian government's investment program been successful in reducing inflationary pressures and hence in creating an environment conducive to sustained expansion of the non- -oil private sector economy? On the other hand, has the government's massive investment in infrastructure simply created an additional inflationary source of aggregate demand for the kingdom's scarce domestic resources? The main findings of the study are that the country's infrastructure led growth has been successful in achieving its main aim: the reduction in structural sources of inflationary pressures in the non-oil sectors. In this respect, the government's strategy began paying fairly respectable growth rates, even during periods of slack oil revenues. It still remains to be see however if past infrastructure investments will be able to sustain the growth momentum built up in the late 1970s and early 1980s.

IntroductionAppraisal Outline Part I - DeterministicBenefits, costs and time valueSingle and multiple investmentsInterestAppraisalMeasuresPresent worthAnnual worthInternal rate of returnPayback periodBenefit: cost ratioExample calculationsAppraisal: Extensions and commentsIntroductionApparent conflictNegative benefitsUncertaintyChoice of interest rateInflationNonfinancial matters/intangiblesPart II - ProbabilisticBackgroundIntroductionPreferred analysis frameworkMeasures of viability and preferenceOptionsObtaining estimatesSummary probabilistic appraisalProbabilistic cash flowsIntroductionForm

High-quality infrastructure will boost regional economic development and reduce poverty and income inequality. The spill-over effects created by this high-quality infrastructure will be seen in the form of an increase in gross domestic product and tax revenue in the region. These positive effects can be utilized to address the gap between infrastructure demand and financing. Private−public partnerships (PPP) in infrastructure have been advocated for many years. However, PPP partners, such as insurance and pension funds, have been discouraged by the low rate of return from investing in quality infrastructure projects. This is because the main sources of revenue from infrastructure investment are user charges. This paper aims to provide a new mechanism for government and investors to utilize the spill-over effects of infrastructure projects and share them with infrastructure investors for a better rate of return in order to compensate their risk. This mechanism will motivate stakeholders to design infrastructure with high economic benefits and encourage instruments, such as city infrastructure concepts, hometown investment trusts, land trusts, and the improvement of education and digital literacy, to ensure the infrastructure projects will create positive spill-overs to the region. Hometown investment trust funds can provide financing for start-up businesses along with the new infrastructure investments. Land trusts will solve the issue of owners not wanting to sell their land by giving them the option to keep it and lease the land to infrastructure companies. The landowners can receive long-term rent income, for example for 99 years. In this way, land trusts will smoothen the use of land and transfer the usage rights to infrastructure companies.

Japan's investment in the domestic construction industry has fallen to less than half its peak in 1992. Given the country's declining population, Japanese construction companies must go global to remain profitable. To what extent the Japanese government and Japanese companies can contribute to meeting the growing infrastructure needs in the region is unclear as Japanese companies have long been operating primarily in Japan. The Japanese government has in recent years passed a series of new laws that encourage private sector participation in financing, building and operating public infrastructure. Through involvement in such public projects, Japanese companies have developed the skills and technologies to build a variety of infrastructures that are resilient to natural disasters and adaptable to various geographical conditions and social and economic development. But the major challenge for Japanese companies is to transform their business model drastically from one that relies on the domestic market to one that contributes to the social and economic development of third countries.

Lauded as one of the most remarkable Chinese initiatives in the international financial arena, the Asian Infrastructure Investment Bank (AIIB) sets the stage for China's greater role in the international economic system as a prominent stakeholder. Headquartered in Beijing, the bank is expected to play a key role in plugging the infrastructure gaps in Asia, which have been estimated at US$8 trillion between the years 2010 and 2020. The setting up of the AIIB will have far-reaching economic as well as politico-strategic implications for countries across Asia and beyond. While the AIIB has been seen as a remedy to address infrastructure deficit in Asia, it is unlikely to meet the US$8 trillion goal on its own. The biggest challenge before the bank, therefore, is to prioritise in terms of selecting projects so that it optimally utilises the available financial resources and functions as a transparent and impartial organisation, in addition to making a swift and smooth transition from a 'Chinese initiative' to a 'China-led initiative' that yields equitable benefits to all its member countries.

Intro -- Contents -- Acknowledgments -- Introduction | Edward L. Glaeser and James M. Poterba -- 1. Measuring Infrastructure in BEA's National Economic Accounts | Jennifer Bennett, Robert Kornfeld, Daniel Sichel, and David Wasshausen, Comment: Peter Blair Henry -- 2. Can America Reduce Highway Spending? Evidence from the States | Leah Brooks and Zachary Liscow, Comment: Clifford Winston -- 3. Transportation Infrastructure in the US | Gilles Duranton, Geetika Nagpal, and Matthew A. Turner, Comment: Stephen J. Redding -- 4. The Macroeconomic Consequences of Infrastructure Investment | Valerie A. Ramey, Comment: Jason Furman -- 5. Procurement Choices and Infrastructure Costs | Dejan Makovšek and Adrian Bridge, Comment: Shoshana Vasserman -- 6. When and How to Use Public-Private Partnerships in Infrastructure: Lessons from the International Experience | Eduardo Engel, Ronald D. Fischer, and Alexander Galetovic, Comment: Keith Hennessey -- 7. A Fair Value Approach to Valuing Public Infrastructure Projects and the Risk Transfer in Public-Private Partnerships | Deborah Lucas and Jorge Jimenez Montesinos, Comment: R. Richard Geddes -- 8. Digital Infrastructure | Shane Greenstein, Comment: Catherine Tucker -- Contributors -- Author Index -- Subject Index.