Edited by Biswa Nath Bhattacharyay, Masahiro Kawai and Rajat M. Nag
Chapter 3: Benefits of infrastructure investment: an empirical analysis
Rapid trade expansion has been a key driver of the economic success of East and Southeast Asian countries over recent decades. Substantial reform has liberalized trade and foreign direct investment regimes, and rapid technological progress has lowered transportation and communications costs. In addition, the development of infrastructure in Asian countries has made an important contribution to their integration into the world economy. The level of infrastructure development in most developing Asian countries is still relatively low, however. The significant dependence on foreign trade and bright long-term growth prospects of these countries suggest the potential for substantial gains from investment in regional infrastructure in Asia. Moreover, the development of regional infrastructure that strengthens the links between Asian economies and with the rest of the world is likely to stimulate wider economic participation of the poorest economies in the region.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.