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Filling the Gap: Infrastructure Investment in Brazil

Author

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  • Ms. Mercedes Garcia-Escribano
  • Carlos Góes
  • Ms. Izabela Karpowicz

Abstract

Infrastructure bottlenecks have been identified as a key obstacle to growth affecting productivity and market efficiency, and hindering domestic integration and export performance. This paper assesses the state of Brazil’s infrastructure, in light of past investment trends and various quality and quantity indicators. Brazil’s infrastructure stock and its quality rank low in relation to that of comparator countries, chosen amongst main export competitors. We provide evidence that infrastructure affects domestic integration by analyzing price convergence of tradable goods across major cities. The government’s concession program will narrow part of the infrastructure gap, however, governance reforms will be crucial to improving investment efficiency.

Suggested Citation

  • Ms. Mercedes Garcia-Escribano & Carlos Góes & Ms. Izabela Karpowicz, 2015. "Filling the Gap: Infrastructure Investment in Brazil," IMF Working Papers 2015/180, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2015/180
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    References listed on IDEAS

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    1. World Bank, 2007. "How to Revitalize Infrastructure Investments in Brazil : Public Policies for Better Private Participation, Volume 2. Background Report," World Bank Publications - Reports 8045, The World Bank Group.
    2. Im, Kyung So & Pesaran, M. Hashem & Shin, Yongcheol, 2003. "Testing for unit roots in heterogeneous panels," Journal of Econometrics, Elsevier, vol. 115(1), pages 53-74, July.
    3. World Bank, 2007. "How to Revitalize Infrastructure Investments in Brazil : Public Policies for Better Private Participation, Volume 1. Main Report," World Bank Publications - Reports 8047, The World Bank Group.
    4. C. Simon Fan & Xiangdong Wei, 2006. "The Law of One Price: Evidence from the Transitional Economy of China," The Review of Economics and Statistics, MIT Press, vol. 88(4), pages 682-697, November.
    5. Carlos Góes & Troy Matheson, 2017. "Domestic market integration and the law of one price in Brazil," Applied Economics Letters, Taylor & Francis Journals, vol. 24(5), pages 284-288, March.
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    Cited by:

    1. López-Bermúdez, Beatriz & Freire-Seoane, María Jesús & González-Laxe, Fernando, 2019. "Efficiency and productivity of container terminals in Brazilian ports (2008–2017)," Utilities Policy, Elsevier, vol. 56(C), pages 82-91.
    2. Fernando Camacho & Carlos Oliveira Cruz, 2022. "Toll road sector in Brazil: Regulation by contract and recent innovations," Competition and Regulation in Network Industries, , vol. 23(2), pages 135-152, June.
    3. Bofinger, Peter & Geißendörfer, Lisa & Haas, Thomas & Mayer, Fabian, 2021. "Discovering the True Schumpeter - New Insights into the Finance and Growth Nexus," CEPR Discussion Papers 16851, C.E.P.R. Discussion Papers.
    4. Ms. Valerie Cerra & Mr. Alfredo Cuevas & Carlos Góes & Ms. Izabela Karpowicz & Mr. Troy D Matheson & Issouf Samaké & Svetlana Vtyurina, 2016. "Highways to Heaven: Infrastructure Determinants and Trends in Latin America and the Caribbean," IMF Working Papers 2016/185, International Monetary Fund.
    5. Carlos Góes & Troy Matheson, 2017. "Domestic market integration and the law of one price in Brazil," Applied Economics Letters, Taylor & Francis Journals, vol. 24(5), pages 284-288, March.
    6. Bottasso, Anna & Conti, Maurizio & de Sa Porto, Paulo Costacurta & Ferrari, Claudio & Tei, Alessio, 2018. "Port infrastructures and trade: Empirical evidence from Brazil," Transportation Research Part A: Policy and Practice, Elsevier, vol. 107(C), pages 126-139.

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