Found 12 article(s) for author 'Infrastructure'

Infrastructure and Finance Evidence from India’s GQ Highway Network

Infrastructure and Finance Evidence from India’s GQ Highway Network. William Kerr, Ramana Nanda, June 2019, Paper, “This paper uses the construction of India’s Golden Quadrangle central highway network, together with comprehensive loan data from the Reserve Bank of India, to investigate the interaction between infrastructure development and financial sector depth. The paper identifies a disproportionate increase in loan count and average loan size in districts along the Golden Quadrangle highway network, using stringent specifications with industry and district fixed effects. The results hold in straight-line instrumental variable frameworks and are not present in placebo tests with another highway that was planned to be upgraded at the same time as Golden Quadrangle but subsequently delayed. Importantly, however, the results are concentrated in districts with stronger initial financial development, suggesting that although financing responds to large infrastructure investments and helps spur real economic outcomes, initial financial sector development might play an important role in determining where real activity will grow.Link

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Realizing the Potential of Public-Private Partnerships to Advance Asia’s Infrastructure Development

Realizing the Potential of Public-Private Partnerships to Advance Asia’s Infrastructure Development. Akash Deep, January 2019, Paper, “The rapid growth in developing Asia’s infrastructure has helped power the region’s fast growth. Despite their impressive performance, many developing countries have glaring infrastructure deficits in electricity, transport, and water and sanitation. It is estimated that annual investments of $1.7 trillion, including for climate mitigation and adaptation, will be needed across developing Asia in 2016–2030 to maintain the region’s growth momentum, eradicate poverty— the region’s main unfinished development agenda—and take effective action against climate change. Indeed, infrastructure will be a key element in attaining the Sustainable Development Goals, and its expansion will be vital for tackling Asia’s rapid urbanization and strengthening value chains.Link

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Lawrence Summers on U.S. Leadership, Infrastructure

Lawrence Summers on U.S. Leadership, Infrastructure. Lawrence Summers, June 5, 2017, Video, “Harvard University Charles W. Eliot Professor Lawrence Summers discusses the United States’ global leadership under President Donald Trump, CEOs support for President Trump, and the prospect of U.S. infrastructure spending. He speaks on “Bloomberg Daybreak: Americas.” (Source: Bloomberg)Link

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The Political Economy of Transportation Investment

The Political Economy of Transportation Investment. Edward Glaeser, January 2017, Paper, “Will politics lead to over-building or under-building of transportation projects? In this paper, we develop a model of infrastructure policy in which politicians overdo things that have hidden costs and underperform tasks whose costs voters readily perceive. Consequently, national funding of transportation leads to overspending, since voters more readily perceive the upside of new projects than the future taxes that will be paid for distant highways. Yet when local voters are well-informed, the highly salient nuisances of local construction, including land taking and noise, lead to under-building. This framework explains the decline of urban mega-projects in the US (Altshuler and Lubero§ 2003) as the result of increasingly educated and organized urban voters. Our framework also predicts more per capita transportation spending in low-density and less educated areas, which seems to be empirically correct.Link

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Trump Can’t Repeal the Laws of Economics

Trump Can’t Repeal the Laws of Economics. Lawrence Summers, November 14, 2016, Opinion, “Following a brief market plunge, the president-elect’s speech last Tuesday night was more conciliatory than many expected and emphasized his commitment to infrastructure investment. Investors have, on balance, concluded that the combination of a shift to very expansionary fiscal policy and major reductions in regulation in sectors ranging from energy to finance to drug pricing will raise demand and reflate the U.S. economy.Link

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Open Access to Infrastructure Networks: The Experience of Railroads

Open Access to Infrastructure Networks: The Experience of Railroads. Jose Gomez-Ibanez, June 1, 2016, Paper, “Many countries have restructured their railroads and other network industries to require that network providers grant access to independent companies. The potential benefit is to introduce competition among the access users, while the potential cost is to reduce coordination between the network provider and the access users. The experiences of railroads in Australia, Europe, and North America caution that coordination costs are likely to be high when the access provider/user interface is technically complex, the network is close to capacity, the access users are heterogeneous, there is little reciprocity between providers and users, and the access grants are broad.Link

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Infrastructure, Incentives and Institutions

Infrastructure, Incentives and Institutions. Edward Glaeser, January 2016, Paper. “Cities generate negative, as well as positive, externalities; addressing those externalities requires both infrastructure and institutions. Providing clean water and removing refuse requires water and sewer pipes, but the urban poor are often unwilling to pay for the costs of that piping. Standard welfare economics teaches us that either subsidies or Pigouvian fines can solve that problem, but both solution are problematic when institutions are weak. Subsidies lead to waste and corruption; fines lead to extortion of the innocent. Zambia has attempted to solve its problem with subsidies alone, but the subsidies have been too small to solve the “last-mile problem” and so most poor households remain unconnected to the water and sewer system. In nineteenth-century New York, subsidies also proved insufficient and were largely replaced by a penalty-based system … Link

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Infrastructure for innovation

Infrastructure for innovation. Calestous Juma, June 26, 2015, Opinion, “Infrastructural development and technological innovation are both vital to Africa’s economic future. Policymakers are currently more focused on infrastructure; they should not forget its critical role in spurring innovation. Infrastructure is both the backbone for the economy but also the motherboard for technological innovation. Without adequate infrastructure, Africa’s economies cannot realise their full potential. The continent’s low economic performance and weak integration into the global economy is in part a result of inadequate infrastructure…Link

 

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