Description: Infrastructure and Development : A Critical Appraisal of the Macro Level Literature

Infrastructure and Development : A Critical Appraisal of the Macro Level Literature

This survey reviews the existing macro-level empirical literature on the link between infrastructure and development outcomes in a critical light. After providing a general framework that casts the relevant terms of the controversy on the real effe...

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Bibliographic Details
Main Author:	Straub, Stéphane
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ACCOUNTABILITY ACCOUNTING ACCOUNTING FRAMEWORK ADB ADVERSE SELECTION AGRICULTURE AIRPORTS ALLOCATION AUTOMOBILE BOTTLENECKS BUREAUCRACY BUSINESS CYCLES CAPITAL EXPENDITURES CAPITAL INVESTMENT CENTRAL BANK COLLUSION COMPARATIVE ADVANTAGE COMPETITIVENESS CONSTANT RETURNS TO SCALE CONTRACT ENFORCEMENT COST OF CAPITAL CURRENT EXPENDITURES DEFICITS DEVELOPMENT ECONOMICS DEVELOPMENT POLICIES ECONOMETRIC ANALYSIS ECONOMETRICS ECONOMIC EFFICIENCY ECONOMIC GEOGRAPHY ECONOMIC GROWTH ECONOMIC HISTORY ECONOMIC PERFORMANCE ECONOMIC RESEARCH ECONOMIC THEORY ECONOMICS ECONOMIES OF SCALE ELASTICITIES ELASTICITY ELECTRICITY SERVICES EMPLOYMENT EXTERNALITIES FINANCE INFRASTRUCTURE FISCAL POLICY FUTURE RESEARCH GDP GOVERNMENT EXPENDITURES GROWTH RATE GROWTH THEORY HIGHWAY HIGHWAY NETWORK HIGHWAYS HUMAN CAPITAL INCOME INCOME DISTRIBUTION INCREASING RETURNS INDUSTRIAL ECONOMICS INEFFICIENCY INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE INVESTMENT INFRASTRUCTURE PROJECTS INSURANCE INSURANCE MARKETS INTERNATIONAL TRADE INVENTORIES INVENTORY INVESTMENT BANK INVESTMENT IN ROADS LATIN AMERICAN LAWS LDCS MARGINAL BENEFITS MARGINAL COSTS MARGINAL PRODUCT MARGINAL PRODUCTIVITY MIDDLE EAST MIDDLE INCOME COUNTRIES MORAL HAZARD NATURAL MONOPOLIES NETWORK EXTERNALITIES NETWORK EXTERNALITY NORTH AFRICA OWNERSHIP STRUCTURE PER CAPITA INCOME POLITICAL ECONOMY POSITIVE EFFECTS PRIVATE OWNERSHIP PRIVATE SECTOR PRIVATIZATION PRODUCTION FUNCTION PRODUCTION FUNCTIONS PRODUCTIVITY PRODUCTIVITY GROWTH PUBLIC ENTERPRISES PUBLIC EXPENDITURES PUBLIC GOOD PUBLIC GOODS PUBLIC POLICY RAILROADS REGULATORY FRAMEWORK RETURN ON INVESTMENT ROAD ROAD INFRASTRUCTURE ROAD INVESTMENT ROADS SANITATION SAVINGS SOUTH AMERICA SPECIALIZATION STOCKS SUB-SAHARAN AFRICA TELECOMMUNICATIONS TOTAL FACTOR PRODUCTIVITY TRAFFIC TRAFFIC CONGESTION TRANSPORT TRANSPORT COSTS TRANSPORT INFRASTRUCTURE TRUE UTILITY FUNCTION VEHICLE VEHICLE MANUFACTURERS VETO WAGES
Online Access:	http://documents.worldbank.org/curated/en/2008/04/9354757/infrastructure-development-critical-appraisal-macro-level-literature http://hdl.handle.net/10986/6517

Description
Summary:	This survey reviews the existing macro-level empirical literature on the link between infrastructure and development outcomes in a critical light. After providing a general framework that casts the relevant terms of the controversy on the real effect of infrastructure on growth in the context of an aggregate production function, it signals what are the relevant empirical questions to be addressed. This guides the systematic review of a number of empirical studies and the discussion of the main econometric challenges to the identification of the effect of infrastructure on output and productivity. Finally, building on related research, in particular in contract theory and political economy, the paper spells out several promising research avenues.

Infrastructure and Development : A Critical Appraisal of the Macro Level Literature

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