Determinants of Infrastructure and Its Financing

Cerra, Valerie; Cuevas, Alfredo; Góes, Carlos; Karpowicz, Izabela; Matheson, Troy; Samaké, Issouf; Vtyurina, Svetlana

doi:10.1177/2394901517730739

Cited by 14 publications

(23 citation statements)

References 11 publications

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“…One important issue is the ability of SSA countries to compel firms to contribute to infrastructure development. In comparison, this finding is similar to those made by Cerra et al (2017). It can be asserted that, in addition to the quality of institutions and governance, SSA countries must develop their respective industrial sectors and boost their drive for economic growth.…”

Section: Resultssupporting

confidence: 82%

Building Critical Infrastructures: Evaluating the Roles of Governance and Institutions in Infrastructural Developments in Sub-Sahara African Countries

2022

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Background The Sub-Saharan African (SSA) region has notably been in the limelight of infrastructural deficit discussions over the decades. Although the region’s infrastructural development is gradually improving, the levels and pace of development remain generally poor compared to the rest of the world. Objectives This study thus aims to empirically examine the roles of governance and institutions in infrastructural developments in the Sub-Sahara African (SSA) region toward addressing the pressing needs for critical infrastructures for the region. Research Designs The empirical strategies utilized in the study include the Common Correlated Efficient Mean Group (CCEMG) and Dynamic CCEMG methods among others. These empirical approaches were applied to analyze data on governance and institutional quality proxies for the SSA region to achieve the study’s objectives while controlling for the effects of industrial value-added, foreign capital inflow (FDI), and overall economic growth for the understudied period (1990–2019). Results The results reflect the essence of governance and institutional quality as these variables significantly boost infrastructural development in SSA. In addition, industrialization and growth also show a favorable impact on the development of infrastructure thus reflecting that the transition from agrarian to industrial economies occurs in parallel with infrastructure development in the SSA. However, FDI inflows were not found to be significantly instrumental to infrastructural development in the region. Conclusions Hence, the SSA must strive to strengthen institutions and harmonize their industrial and economic push with infrastructural developments while encouraging potential foreign investors to diversify investments to infrastructural projects beyond the usual primary sector/resource-based activities.

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Section: Resultssupporting

confidence: 82%

Building Critical Infrastructures: Evaluating the Roles of Governance and Institutions in Infrastructural Developments in Sub-Sahara African Countries

2022

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“…It should be noted that political and institutional interference in economic processes must be balanced and justified. Attracting foreign, regional, or private investments in the implementation of infrastructure projects depends on government strategies [8,9].…”

Section: Resultsmentioning

confidence: 99%

Peculiarities of financing investment infrastructure projects in Ukraine

et al. 2021

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The purpose of the article is to show the role of international financial organizations in financing the development of the transportation network of Ukraine. It is shown the necessity of implementation of infrastructure projects for the development of the state economy and increase of its competitiveness. The structure of sources of financing in the development of highways is shown and the gradual reduction of the share of investments at the expense of the State budget and the insignificant role of public and private partnership in the transport sphere are revealed. The cooperation of Ukraine with international financial organizations: the International Bank of Reconstruction and Development, the European Bank of Reconstruction and Development, and the European Investment Bank in the implementation of infrastructure projects have been studied. A retrospective analysis of the available loan agreements was performed. The expected positive consequences of international investment for the transport sector of Ukraine and the economy as a whole have been identified. Information is given on real investment infrastructure projects with the participation of international financial institutions and the financial conditions of their implementation. The shifts in the arrangement of highways of Ukraine at the expense of international investments are listed.

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“…Existing studies, such as De (2010), find that Asian countries with higher income, stronger institutions, better governance, and more open economies have higher levels of infrastructure. Some of the other factors affecting infrastructure development are economic growth, capital expenditure, and access to finance (Ari and Toivanen, 2005;Billon, 2010;Cerra et al, 2017). While studies such as Chakraborty and Guha (2009), Bajar (2014), and Nallathiga (2015) discuss the nexus between variations in infrastructure development and economic performance across the Indian states, they do not empirically examine the factors responsible for differential development of infrastructure.…”

Section: Introductionmentioning

confidence: 99%

“…Our study empirically examines how economic, fiscal, demographic, social, institutional, and political factors have influenced infrastructure development across the Indian states. Unlike previous studies (Ari and Toivanen, 2005;Billon, 2010;Cerra et al, 2017;De, 2010) that have focused on a particular type of infrastructure or a relatively narrow range of infrastructure indicators, we consider a wider range of infrastructures (altogether 13 types of infrastructures). We group them into three categories -physical, social, and financialinfrastructure.…”

Section: Introductionmentioning

confidence: 99%

Why do Indian States Differ in Their Infrastructure Development?

Timilsina¹,

Sahoo²,

Dash³

2022

Policy Research Working Papers

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The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.

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Determinants of Infrastructure and Its Financing

Cited by 14 publications

References 11 publications

Building Critical Infrastructures: Evaluating the Roles of Governance and Institutions in Infrastructural Developments in Sub-Sahara African Countries

Building Critical Infrastructures: Evaluating the Roles of Governance and Institutions in Infrastructural Developments in Sub-Sahara African Countries

Peculiarities of financing investment infrastructure projects in Ukraine

Why do Indian States Differ in Their Infrastructure Development?

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