Estimating demand for infrastructure, 2010–2020

Bhattacharyay, Biswa Nath

doi:10.4337/9781781003138.00010

Cited by 21 publications

(12 citation statements)

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“…37 See, e.g., Bhattacharyay et al (2012), Basu Das and James (2013), Sheng (2014), Zen and Regan (2014), Ray (2015), andADB (2015).…”

Section: Lessons and Recommendationsmentioning

confidence: 99%

“…7 A number of regional studies have also produced estimates of future infrastructure investment requirements and gaps. In his work for the Asian Development Bank (ADB), Bhattacharyay (2012) found that 32 developing economies in Asia would need infrastructure investment of $8.2 trillion (in 2008 prices) over the course of 2011-2020. 8 In terms of sectors, about half of investments should go into energy, about one-third into transport (mostly on roads), and the rest into telecommunications, water, and sanitation.…”

Section: Emerging Markets and Asiamentioning

confidence: 99%

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Infrastructure Investment, Private Finance, and Institutional Investors: Asia from a Global Perspective

Inderst

2016

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in Asian Development Bank InstituteThe Working Paper series is a continuation of the formerly named Discussion Paper series; the numbering of the papers continued without interruption or change. ADBI's working papers reflect initial ideas on a topic and are posted online for discussion. ADBI encourages readers to post their comments on the main page for each working paper (given in the citation below). Some working papers may develop into other forms of publication. Email: georg@georginderst.com Georg Inderst is an independent adviser at Inderst Advisory in London, United Kingdom.The views expressed in this paper are the views of the author and do not necessarily reflect the views or policies of ADBI, ADB, its Board of Directors, or the governments they represent. ADBI does not guarantee the accuracy of the data included in this paper and accepts no responsibility for any consequences of their use. Terminology used may not necessarily be consistent with ADB official terms.Working papers are subject to formal revision and correction before they are finalized and considered published.Asian Development Bank Institute Kasumigaseki Building 8F 3-2-5 Kasumigaseki, Chiyoda-ku Tokyo 100-6008, Japan AbstractThis study evaluates infrastructure investment and finance in Asia from a global perspective. It provides an overview on infrastructure needs and the various sources of private finance, globally and within Asia, and creates a "bigger picture" for the demand and supply of capital for infrastructure by using a simple framework, i.e., percentages of gross domestic product.The picture is expectedly not uniform across Asia, but some interesting features emerge from global comparisons. Overall, the private sector still plays a relatively subdued role. Bank loans dominate private infrastructure finance, and there is much scope for the further development of capital markets. The volumes of listed and unlisted investment instruments, of project finance and of public-private partnerships, are still small in relation to investment needs and well below the global average. However, there are some notable exceptions.Institutional investors are widely seen as a new financing source for infrastructure. There are some distinctive features in Asia, such as the prominence of large pension reserve funds and sovereign wealth funds, and comparatively weak private long-term savings institutions. The current asset allocation to infrastructure by domestic inve...

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“…37 See, e.g., Bhattacharyay et al (2012), Basu Das and James (2013), Sheng (2014), Zen and Regan (2014), Ray (2015), andADB (2015).…”

Section: Lessons and Recommendationsmentioning

confidence: 99%

Section: Emerging Markets and Asiamentioning

confidence: 99%

Infrastructure Investment, Private Finance, and Institutional Investors: Asia from a Global Perspective

Inderst

2016

SSRN Journal

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“…Guided by this principle, a large proportion of China's foreign aid is devoted to infrastructure construction. According to the State Council, 44.8 % of aid was used for economic infrastructure, while 27.6 % was used for social and public infrastructure during 2010-2012(State Council 2014. These infrastructure programs include the construction of hospitals, schools, water supply, public infrastructure, transport and communications, broadcasting and telecommunications, and power supply.…”

Section: The Aiib Consists Chinese Norms Regarding International Finamentioning

confidence: 99%

The AIIB and China’s Normative Power in International Financial Governance Structure

Peng

Tok

2016

Chin. Polit. Sci. Rev.

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This article examines the role of the Asian Infrastructure Investment Bank (AIIB) in China's emerging normative power in international financial governance area. Based on the existing framework of normative power concept, the AIIB's role in China's normative power is examined from three angles: normative principles, norm diffusion, and external perception. As a Chinese initiative, the AIIB's policy framework has inherited Chinese norms of unconditionality and infrastructure construction. The management structure of this new bank also manifests China's preference of a lean internal arrangement. Moreover, Asian developing countries hold the majority of voting power of the AIIB. This distribution of votes also falls in line with China's appeal of a fair governance structure in international financial institutions. The analysis reveals that with the endorsement of 57 member states, the AIIB will significantly enhance China's normative power in the international society. Some other international institutions have changed their policies to adapt Chinese norms. Moreover, the cooperation between the AIIB and the other financial institutions is a chance to improve the external perceptions of China's normative power in western society, including European states and the United States. However, it is still necessary to observe whether China will be able to maintain its normative principles during the operation of the AIIB.

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“…ADB estimates that South Asia and Southeast Asia will need at least $3.6 trillion over the period 2010-2020 in infrastructure investment if they are to meet the needs of their growing populations (Bhattacharyay 2012). However, the underlying issue is not about a shortage of money: according to data from the International Monetary Fund (see Cameron [2012]), in all of Asia, savers put away $1.3 trillion in 2011 alone, and there is enough excess liquidity in Western financial markets looking for reliable long-term returns to meet a significant part of this financing requirement.…”

Section: Rational For Improved Finance Between South Asia and Southeamentioning

confidence: 99%

Investment Finance and Financial Sector Development

Ray

2015

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in Asian Development Bank InstituteThe Working Paper series is a continuation of the formerly named Discussion Paper series; the numbering of the papers continued without interruption or change. ADBI's working papers reflect initial ideas on a topic and are posted online for discussion. ADBI encourages readers to post their comments on the main page for each working paper (given in the citation below). Some working papers may develop into other forms of publication. The views expressed in this paper are the views of the author and do not necessarily reflect the views or policies of ADBI, ADB, its Board of Directors, or the governments they represent. ADBI does not guarantee the accuracy of the data included in this paper and accepts no responsibility for any consequences of their use. Terminology used may not necessarily be consistent with ADB official terms.Working papers are subject to formal revision and correction before they are finalized and considered published.Asian Development Bank Institute Kasumigaseki Building 8F 3-2-5 Kasumigaseki, Chiyoda-ku Tokyo 100-6008, Japan AbstractInvestment in infrastructure for increasing trade and connectivity in South Asia and Southeast Asia has been impacted by a reduction in commercial bank participation in project financing, which has significantly increased the role of multilateral financial institutions and export credit agencies. The financing model needs to change to more sustainable local market and local currency financing by harnessing domestic savings, and this will be crucial if the region is to procure investments of an estimated $3.6 trillion by 2020 for financing of its infrastructure and connectivity projects. Increased connectivity between South and Southeast Asia can play an important role in improving efficiency and productivity by having more efficient industries based on comparative advantage, enlarging the overall market size, and increasing market access. However, such economic integration faces a multitude of challenges relating to cross-border infrastructure links, weak trade facilitation, shortages of infrastructure financing, non-tariff barriers, restrictions on foreign direct investment, and weak institutional coordination. Improvement in these issues would require large-scale public and private sector investment, supplemented by commercially viable credit.This study analyzes the means and constraints in funding cross-border connectivity projects. Using the mos...

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Estimating demand for infrastructure, 2010–2020

Cited by 21 publications

References 0 publications

Infrastructure Investment, Private Finance, and Institutional Investors: Asia from a Global Perspective

Infrastructure Investment, Private Finance, and Institutional Investors: Asia from a Global Perspective

The AIIB and China’s Normative Power in International Financial Governance Structure

Investment Finance and Financial Sector Development

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