The Economics of Infrastructure in a Globalized World: Issues, Lessons and Future Challenges
AbstractThe massive fiscal stimulus in the wake of the global financial crisis has refocused the international community onto the nature and role of infrastructure spending. Although this type of spending can provide a short-term demand stimulus to an economy, in the medium to longer term it can form a critical part of a successful economic growth strategy. Well designed infrastructure facilitates economies of scale, reduces costs of trade, and is thus central to specialization and the efficient production and consumption of goods and services. It is a vital ingredient to economic growth and development, which is the key to raising living standards.
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Bibliographic InfoPaper provided by Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University in its series CAMA Working Papers with number 2010-39.
Length: 14 pages
Date of creation: Dec 2010
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