China
Africa
Explore chapters and articles related to this topic
Challenges to infrastructure investment
Published in Sharon McClements, Infrastructure Procurement and Funding, 2022
The sustained lack of public capital investment in infrastructure has now resulted in a widening infrastructure investment gap, which has created an even greater challenge for governments wishing to invest in essential infrastructure. The sustained underinvestment in infrastructure is due to many social, economic, and political factors including the economic shock of the 2020/21 pandemic and the long-term consequences of the global financial crisis of 2008; the demand for more and better essential infrastructure for increasing and ageing populations; and political instability of countries.
Measurement of inland port spatial relationship: a case study of Yangtze River inland ports
Published in Maritime Policy & Management, 2022
The total length of roads can reflect the level of the regional transport infrastructure (Han and Dong 2019). In this regard, counties closer to the central city can benefit from the spillover effect of highway operations (Zhang, Hu, and Lin 2020). Bottasso et al. (2014) uses motorway length as a control variable and verifies that this indicator can positively affect the surrounding regional economy. Moreover, the availability of a well-developed transport network may be crucial for a port to contribute its positive effects on the regional economy (Ducruet 2016). In previous studies, the road infrastructure provision was also used as a proxy to measure public capital stock (Xin, Xuan, and Qiu 2021; Percoco 2010). In addition, urban congestion has an important relationship with road width. The larger the road area, the more the road congestion can be reduced, so as to improve the level of connectivity. Therefore, in the study, road area (Road) rather than road length is used as a control variable to reflect connectivity.
Infrastructure investment and economic performance
Published in Journal of Mega Infrastructure & Sustainable Development, 2019
The positive benefits of infrastructure investment were for many years simply taken for granted by public policy analysts, until the work of Aschauer (1989), Munnell (1992), and others, elevated it to the economic mainstream. Whilst Aschauer’s work established what was perceived to be a statistically significant relationship between investment in infrastructure capital and economic growth, and suggested very high rates of return to such investment, Munnell supported and reinforced the idea that by greasing the wheels of future economic activity, the main beneficial impact of infrastructure investment was improved productivity. In any event, the relationship between infrastructure and economic growth has since been well established, with numerous empirical studies showcasing the positive attributes of investment in public capital. But while infrastructure may lead to higher productivity and output, past and current economic growth also increases the demand for infrastructure services and thereby induces increased supply. In short, it might well be that high GDP and high rates of infrastructure investment are correlated, but the direction of causality is not so clear, which has important implications for policy makers.
Sustainable infrastructure for Nigeria’s sustainable economic development: whither transportation or electric power supply?
Published in Journal of Mega Infrastructure & Sustainable Development, 2022
The endogenous model often specified for testing or explaining the effects of the independent variables on the dependent variable are expressed in an estimation equation or function. The linear function specified for the estimation in this study is: where Sustainable Economic Development is proxy by GDP per Capita (GDPc), Infrastructure = f Megawatts/hour (MWh) (EPG) and Transport Public Capital Spending (PCE), Environment = (CTE).