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The effects of infrastructure development on growth and income distribution (Inglês)

The authors provide an empirical evaluation of the impact of infrastructure development on economic growth and income distribution using a large panel data set encompassing over 100 countries and spanning the years 1960-2000. The empirical strategy involves the estimation of simple equations for GDP growth and conventional inequality measures, augmented to include, among the regressors, infrastructure quantity and quality indicators, in addition to standard controls. To account for the potential endogeneity of infrastructure (as well as that of other regressors), the authors use a variety of generalized-method-of-moments (GMM) estimators based on both internal and external instruments and report results using both disaggregated and synthetic measures of infrastructure quantity and quality. The two robust results are: (1) growth is positively affected by the stock of infrastructure assets, and (2) income inequality declines with higher infrastructure quantity and quality. A variety of specification tests suggests that these results do capture the causal impact of the exogenous component of infrastructure quantity and quality on growth and inequality. These two results combined suggest that infrastructure development can be highly effective to combat poverty. Furthermore, illustrative simulations for Latin American countries suggest that these impacts are economically quite significant, and highlight the growth acceleration and inequality reduction that would result from increased availability, and quality of infrastructure.

Detalhes

  • Autor

    Calderon, Cesar; Serven, Luis

  • Data do documento

    2004/09/01

  • TIpo de documento

    Documento de trabalho sobre pesquisa de políticas

  • No. do relatório

    WPS3400

  • Nº do volume

    1

  • Total Volume(s)

    1

  • País

    América Latina,

  • Região

    América Latina e Caribe,

  • Data de divulgação

    2010/07/01

  • Nome do documento

    The effects of infrastructure development on growth and income distribution

  • Palavras-chave

    private sector participation in infrastructure;provision of infrastructure service;terms of trade shock;affordability of infrastructure service;access to safe water;real exchange rate overvaluation;private participation in infrastructure;access to infrastructure service;quality of infrastructure;power generating capacity;panel data set;electricity generating capacity;parameter of interest;principal component analysis;access to water;total road length;transmission and distribution;impact of road;net present value;determinants of growth;impact of telecommunication;access to internet;access of poor;production of electricity;mobile phone service;Access to Electricity;elimination of subsidy;component of infrastructure;loss of information;private sector activity;privatization of infrastructure;standard growth determinant;empirical growth model;world health organization;development of infrastructure;degree of variation;public sector employment;quality and quantity;coefficient of variation;availability of information;unit of measurement;effects on income;income inequality;explanatory variable;moment condition;lagged level;standard deviation;infrastructure quality;telephone line;infrastructure sector;human capital;aggregate index;Child Mortality;demographic variables;infrastructure asset;financial depth;positive impact;infrastructure accumulation;quality indicators;rural area;coefficient estimate;empirical analysis;global index;estimation result;quality measure;regression results;railway system;paved road;lagged value;difference estimator;consistent estimate;bottom quintile;lagged dependent;Public Infrastructure;system estimator;industrial country;median country;government burden;live birth;inequality determinant;Infant Mortality;private provider;high correlation;income share;exogenous variable;employment effect;Population Density;econometric technique;surface area;empirical result;econometric issue;railway network;estimation technique;waiting time;inequality equation;cross-country panel;empirical literature;public expenditure;inequality measure;telephone density;regression equation;cellular phone;aggregate output;0 hypothesis;correlation coefficient;variance-covariance matrix;job opportunities;job opportunity;capital gain;government spending;disproportionate impact;physical infrastructure;panel framework;poor farming;infrastructure spending;infrastructure efficiency;institutional factor;aggregate income;long-term growth;point estimate;road service;agricultural market;Macroeconomic Stability;cross-country study;empirical support;factor market;Water Network;low-income area;safe road;telecommunications infrastructure;production technology;marginal productivity;school attendance;output gap;job destruction;telecommunications investment;contaminated water;statistical inference;conditional convergence;financial system;household hygiene;open economy;high inflation;measurement error;quantity index;infrastructure network;stock index;regression analysis;transportation network;investment increase;future value;output growth;empirical relationship;middle quintiles;infrastructure expansion;low-income household;endogenous variable;monetary compensation;efficiency reasons;average process;inequality regression;random walk;macroeconomic literature;dominant position;Public-Private Partnership;public good;adequate supply;public provision;policy perspective;connection fee;economic research;utility service;increased access;fiscal adjustment;infrastructure industry;middle class;Public Utilities;inequality reduction;adequate infrastructure;fiscal consolidation;causal impact;high infrastructure;macroeconomic dimension;empirical study;export growth;infrastructure provision;water sector;road quality;transportation sector;telecommunication sector;individual coefficient;infrastructure access;asset value;linear regression;infrastructure availability;farm area;land area;power capacity;transaction cost;road infrastructure;research present;productivity effect

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