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Infrastructure development in China: The cases of electricity, highways, and railways

  • Bai, Chong-En
  • Qian, Yingyi

This paper considers the development of the electricity, highway, and railway sectors in China, with special emphasis on investment incentives. Statistical summary of the development of these sectors is offered, followed by a detailed description of the institutional background, including investment and pricing mechanisms. We also analyze investment incentives based on the institutional background and present our estimates of the rates of return to investment in these sectors. It is observed that some of the current practices may serve as useful transitional arrangements even though they are not desirable in the long run.

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Article provided by Elsevier in its journal Journal of Comparative Economics.

Volume (Year): 38 (2010)
Issue (Month): 1 (March)
Pages: 34-51

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Handle: RePEc:eee:jcecon:v:38:y:2010:i:1:p:34-51
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  1. Haughwout, Andrew F., 2002. "Public infrastructure investments, productivity and welfare in fixed geographic areas," Journal of Public Economics, Elsevier, vol. 83(3), pages 405-428, March.
  2. Catherine J. Morrison & Amy Ellen Schwartz, 1992. "State Infrastructure and Productive Performance," NBER Working Papers 3981, National Bureau of Economic Research, Inc.
  3. Fan, Shenggen & Zhang, Xiaobo, 2004. "Infrastructure and regional economic development in rural China," China Economic Review, Elsevier, vol. 15(2), pages 203-214.
  4. Lynde, Catherine & Richmond, James, 1992. "The Role of Public Capital in Production," The Review of Economics and Statistics, MIT Press, vol. 74(1), pages 37-44, February.
  5. Laura S. Rubin, 1991. "Productivity and the public capital stock: another look," Working Paper Series / Economic Activity Section 118, Board of Governors of the Federal Reserve System (U.S.).
  6. Alicia H. Munnell, 1992. "Policy Watch: Infrastructure Investment and Economic Growth," Journal of Economic Perspectives, American Economic Association, vol. 6(4), pages 189-198, Fall.
  7. Bai, Chong-En & Lu, Jiangyong & Tao, Zhigang, 2010. "Capital or knowhow: The role of foreign multinationals in Sino-foreign joint ventures," China Economic Review, Elsevier, vol. 21(4), pages 629-638, December.
  8. Shirley, Chad & Winston, Clifford, 2004. "Firm inventory behavior and the returns from highway infrastructure investments," Journal of Urban Economics, Elsevier, vol. 55(2), pages 398-415, March.
  9. John A. Tatom, 1991. "Public capital and private sector performance," Review, Federal Reserve Bank of St. Louis, issue May, pages 3-15.
  10. Keeler, Theodore E. & Ying, John S., 1988. "Measuring the benefits of a large public investment : The case of the U.S. Federal-aid highway system," Journal of Public Economics, Elsevier, vol. 36(1), pages 69-85, June.
  11. Demurger, Sylvie, 2001. "Infrastructure Development and Economic Growth: An Explanation for Regional Disparities in China?," Journal of Comparative Economics, Elsevier, vol. 29(1), pages 95-117, March.
  12. Holtz-Eakin, Douglas, 1994. "Public-Sector Capital and the Productivity Puzzle," The Review of Economics and Statistics, MIT Press, vol. 76(1), pages 12-21, February.
  13. Alicia H. Munnell, 1990. "Why has productivity growth declined? Productivity and public investment," New England Economic Review, Federal Reserve Bank of Boston, issue Jan, pages 3-22.
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