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Economic Infrastructure: A Review Of Definitions, Theory And Empirics

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  • Johan Fourie

Abstract

Infrastructure 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.

Suggested Citation

  • Johan Fourie, 2006. "Economic Infrastructure: A Review Of Definitions, Theory And Empirics," South African Journal of Economics, Economic Society of South Africa, vol. 74(3), pages 530-556, September.
  • Handle: RePEc:bla:sajeco:v:74:y:2006:i:3:p:530-556
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    References listed on IDEAS

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    1. Ioannis N. Kessides, 2004. "Reforming Infrastructure : Privatization, Regulation, and Competition," World Bank Publications, The World Bank, number 13525, June.
    2. Laffont, Jean-Jacques & Martimort, David, 2005. "The design of transnational public good mechanisms for developing countries," Journal of Public Economics, Elsevier, vol. 89(2-3), pages 159-196, February.
    3. Fedderke, J.W. & Perkins, P. & Luiz, J.M., 2006. "Infrastructural investment in long-run economic growth: South Africa 1875-2001," World Development, Elsevier, vol. 34(6), pages 1037-1059, June.
    4. Marianne Fay & Danny Leipziger & Quentin Wodon & Tito Yepes, 2003. "Achieving the Millennium Development Goals : The role of infrastructure," Policy Research Working Paper Series 3163, The World Bank.
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Four lessons from railways in Ghana
      by Johan Fourie in Johan Fourie's Blog on 2012-11-28 01:29:39
    2. High-speed rail in South Africa: too costly to consider
      by Johan Fourie in Johan Fourie's Blog on 2013-06-02 12:57:55

    Citations

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    Cited by:

    1. Johan Fourie, 2008. "A note on infrastructure quality in South Africa," Development Southern Africa, Taylor & Francis Journals, vol. 25(4), pages 481-494.
    2. repec:gam:jsusta:v:9:y:2017:i:9:p:1600-:d:111361 is not listed on IDEAS
    3. 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, August.
    4. repec:spr:jecstr:v:6:y:2017:i:1:d:10.1186_s40008-017-0092-9 is not listed on IDEAS
    5. Strike Mbulawa, 2017. "The Impact Of Economic Infrastructure On Long Term Economic Growth In Botswana," Journal of Smart Economic Growth, , vol. 2(1), pages 15-33, March.
    6. 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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