Economic Infrastructure: A Review Of Definitions, Theory And Empirics
AbstractInfrastructure investment, especially in South Africa, is currently at the forefront of policy and public debate. But the term 'infrastructure' has a variety of definitions and interpretations; the reason for the various definitions is related to infrastructure's various impacts and incidence. Three levels of infrastructure are identified: local, national and transnational. Infrastructure at all three levels are subject to certain market failures which require some form of government intervention. Furthermore, theory postulates a number of benefits from infrastructure, both on economic growth and equity. Both the quantity (access to infrastructure) and quality (reliability of infrastructure or accompanying services) are important. Finally, empirical analysis tests whether these theoretical benefits are indeed realised. However, it seems as though infrastructure empirics are subject to a number of serious limitations. Copyright (c) 2006 The Author. Journal compilation (c) 2006 Economic Society of South Africa.
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Bibliographic InfoArticle provided by Economic Society of South Africa in its journal South African Journal of Economics.
Volume (Year): 74 (2006)
Issue (Month): 3 (09)
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Four lessons from railways in Ghana
by Johan Fourie in Johan Fourie's Blog on 2012-11-27 19:29:39
- High-speed rail in South Africa: too costly to consider
by Johan Fourie in Johan Fourie's Blog on 2013-06-02 07:57:55
- Johan Fourie, 2008.
"A note on infrastructure quality in South Africa,"
Development Southern Africa,
Taylor & Francis Journals, vol. 25(4), pages 481-494.
- Zaiter Lahimer, Mahjouba, 2011. "L’impact des entrées de capitaux privés sur la croissance économique dans les pays en développement," Economics Thesis from University Paris Dauphine, Paris Dauphine University, number 123456789/7670 edited by Sterdyniak, Henri, September.
- Mary Modupe Fasoranti, 2012. "The Effect of Government Expenditure on Infrastructure on the Growth of the Nigerian Economy, 1977-2009," International Journal of Economics and Financial Issues, Econjournals, vol. 2(4), pages 513-518.
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