Economic infracstructure: A review of definitions, theory and empirics

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dc.contributor.authorFourie J.
dc.date.accessioned2011-05-15T15:57:40Z
dc.date.available2011-05-15T15:57:40Z
dc.date.issued2006
dc.description.abstractInfrastructure investment, especially in South Africa, is currently at the forefront of policy and public debate. But the term 'infrastructure' has a variety of definitions and interpretations; the reason for the various definitions is related to infrastructure's various impacts and incidence. Three levels of infrastructure are identified: local, national and transnational. Infrastructure at all three levels are subject to certain market failures which require some form of government intervention. Furthermore, theory postulates a number of benefits from infrastructure, both on economic growth and equity. Both the quantity (access to infrastructure) and quality (reliability of infrastructure or accompanying services) are important. Finally, empirical analysis tests whether these theoretical benefits are indeed realised. However, it seems as though infrastructure empirics are subject to a number of serious limitations. © 2006 The Author. Journal compilation © 2006 Economic Society of South Africa.
dc.description.versionReview
dc.identifier.citationSouth African Journal of Economics
dc.identifier.citation74
dc.identifier.citation3
dc.identifier.issn382280
dc.identifier.other10.1111/j.1813-6982.2006.00086.x
dc.identifier.urihttp://hdl.handle.net/10019.1/10534
dc.subjecteconomic planning
dc.subjecteconomic policy
dc.subjecteconomic theory
dc.subjectempirical analysis
dc.subjectpublic goods
dc.subjectAfrica
dc.subjectSouth Africa
dc.subjectSouthern Africa
dc.subjectSub-Saharan Africa
dc.titleEconomic infracstructure: A review of definitions, theory and empirics
dc.typeReview
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