Volume 13 of the EIB Papers contains the results of the 2008 EIB Conference on "Infrastructure investment, growth and cohesion". Issue 1 discusses the volume, composition, determinants and growth effects of government and infrastructure investment and highlights the economic cost of funds and macro-fiscal constraints. Issue 2 analyses the growth and agglomeration effects of regional transport infrastructure investment. The policy insights are as follows. First, transport infrastructure investment by and large furthers economic growth but does not reduce interregional income inequalities. Second, maintenance of existing infrastructure networks is becoming increasingly important in the face of declining productivity effects from additional capital. Third, regional transport infrastructure investment is driven by efficiency and redistribution considerations and is not hampered by fiscal decentralisation. Finally, international investment efforts should focus more on cross-country interconnections.
|Date of creation:||18 Jul 2008|
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