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Public and private provision of infrastructure and economic development

This paper examines the role of infrastructure in long run economic growth. The paper consists of two sections, the first concentrates on the theoretical role of government spending in models of growth and the second details examples of private participation in infrastructure development. Using a simple endogenous growth model we find that while the hypothesized benefits of infrastructure expenditures may be large they require care in matching appropriate financing. As the development and maintenance of infrastructure will continue to be pivotal to the long term success of growing economies, we emphasize the lessons on financing and the caveats of private participation to those who are exploring innovative mechanisms for infrastructure design.

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File URL: http://www.econ.puc-rio.br/pdf/td375.pdf
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Paper provided by Department of Economics PUC-Rio (Brazil) in its series Textos para discussão with number 375.

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Length: 17 pages
Date of creation: Oct 1997
Date of revision:
Handle: RePEc:rio:texdis:375
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  10. Michael Kremer, 1993. "The O-Ring Theory of Economic Development," The Quarterly Journal of Economics, Oxford University Press, vol. 108(3), pages 551-575.
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  12. Danny Quah, 1992. "Empirical cross-section dynamics in economic growth," Discussion Paper / Institute for Empirical Macroeconomics 75, Federal Reserve Bank of Minneapolis.
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  20. Lucas, Robert E, Jr, 1990. "Why Doesn't Capital Flow from Rich to Poor Countries?," American Economic Review, American Economic Association, vol. 80(2), pages 92-96, May.
  21. Quah, Danny, 1993. "Galton's Fallacy and Tests of the Convergence Hypothesis," CEPR Discussion Papers 820, C.E.P.R. Discussion Papers.
  22. Grossman, Gene M & Helpman, Elhanan, 1990. "Trade, Innovation, and Growth," American Economic Review, American Economic Association, vol. 80(2), pages 86-91, May.
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  25. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-37, October.
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  27. De Long, J Bradford, 1988. "Productivity Growth, Convergence, and Welfare: Comment," American Economic Review, American Economic Association, vol. 78(5), pages 1138-54, December.
  28. Steven N. Durlauf, 1993. "Nonergodic Economic Growth," Review of Economic Studies, Oxford University Press, vol. 60(2), pages 349-366.
  29. Fielding, Gordon J. & Klein, Daniel B., 1993. "How To Franchise Highways," University of California Transportation Center, Working Papers qt79z9x6fs, University of California Transportation Center.
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