Asia Rising

Asia Rising

Growth and Resilience in an Uncertain Global Economy

Edited by Hal Hill and Maria Socorro Gochoco-Bautista

The centre of global economic activity is shifting rapidly towards Asia, driven by a combination of the economic dynamism of China, India and other middle-income Asian countries, and sluggish growth in the OECD economies. The rapid growth and rising global prominence has raised a range of major challenges for Asia and for the rest of the world. This comprehensive, forward-looking book examines these issues through in-depth studies of major Asian economies and an analysis of the key development policy options.

Chapter 3: Infrastructure

Douglas H. Brooks and Eugenia C. Go

Subjects: asian studies, asian development, development studies, asian development

Extract

Asia’s high investment rates in recent decades have supported the rapid expansion of infrastructure, which in turn has supported the region’s rapid growth. The processes by which investments in physical infrastructure are planned and financed and by which they generate useful services, as well as the manner in which those services are allocated to producers and consumers, can be complex. Focusing on infrastructure assets, services, and markets – and the environment in which infrastructure makes its contributions to economic growth and development – helps in analyzing effective infrastructure investment and related policies. Infrastructure consists of physical assets such as power generation, transmission, and distribution systems, transportation or communications networks, and water and sanitation systems. By some definitions, social, organizational, or regulatory institutions can also be considered as infrastructure – often referred to as “soft” infrastructure to differentiate it from “hard” (physical) infrastructure.

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