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Infraestructuras: ¿Qué podemos decir los economistas?
[Infrastructure: what can the economists say?]

  • de Rus, Gines

Infrastructures have been traditionally built, maintained and operated by the public sector. Road and railway networks, energy, electricity and water were traditionally designed in public sector headquarters in many countries until the eighties. Since then, and due to fiscal crisis and public sector inefficiencies, among other factors, privatization is a key ingredient of the industrial policy all over the world. Technological change and the analysis of economists have modified the conventional view which assimilated infrastructure and public monopoly. Technological developments explain part of the change in the telecommunication markets. Moreover, the economic analysis showed that the electricity sector, railways or ports had several activities which could be unbundled as a way to introduce competition. One of the field which has attracted the attention of economic research in the last two decades is the contribution of public infrastructure to economic growth, though economists had been investigating long time before how to assess investment projects in public infrastructure, or how should prices be set in the context of long live assets, sunk costs, congestion and externalities This paper provides a broad overview of the economics of infrastructure.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 12194.

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Date of creation: 2000
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Handle: RePEc:pra:mprapa:12194
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  1. Ottaviano, Gianmarco & Puga, Diego, 1997. "Agglomeration in the Global Economy: A Survey of the 'New Economic Geography'," CEPR Discussion Papers 1699, C.E.P.R. Discussion Papers.
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  5. David Aschauer, 1988. "Is public expenditure productive?," Staff Memoranda 88-7, Federal Reserve Bank of Chicago.
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  7. Gramlich, Edward M, 1994. "Infrastructure Investment: A Review Essay," Journal of Economic Literature, American Economic Association, vol. 32(3), pages 1176-96, September.
  8. Roger Vickerman & Klaus Spiekermann & Michael Wegener, 1999. "Accessibility and Economic Development in Europe," Regional Studies, Taylor & Francis Journals, vol. 33(1), pages 1-15.
  9. David A. Aschauer, 1989. "Public investment and productivity growth in the Group of Seven," Economic Perspectives, Federal Reserve Bank of Chicago, issue Sep, pages 17-25.
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