Municipal authorities in industrialized and in developing countries face unceasingly the issues of congestion, insufficiency of transport means capacity, poor operability of transport systems and a growing demand for reliable and effective urban transport. While the expansion of infrastructure is generally considered as an undesirable option, in specific cases, when short links or ring roads are missing, new infrastructure projects may provide beneficial solutions. The upgrading and renewal of existing networks is always a challenge to the development of a modern city and the welfare of citizens. Central governance and management of transport systems, the establishment of smart and digital infrastructure, advanced surveillance and traffic monitoring, and intra-city energy-harvesting policy are some of the steps to be taken during the transition to a green and sustainable urban future.Municipal authorities have also to consider other options and strategies to create a citizen-friendly setting for mobility: diminish the need for trips (digitalization of services, e-commerce, etc.), shift from private to public transport and transform the urban form to promote non-motorized transport in favor of the natural environment and public health. A citizen-friendly policy based on the anticipation of future needs and technological development seems to be a requisite for European cities searching for a smooth integration of their networks into urban space.
{"title":"Smooth integration of transport infrastructure into urban space","authors":"A. Mouratidis","doi":"10.24294/jipd.v5i2.1379","DOIUrl":"https://doi.org/10.24294/jipd.v5i2.1379","url":null,"abstract":"Municipal authorities in industrialized and in developing countries face unceasingly the issues of congestion, insufficiency of transport means capacity, poor operability of transport systems and a growing demand for reliable and effective urban transport. While the expansion of infrastructure is generally considered as an undesirable option, in specific cases, when short links or ring roads are missing, new infrastructure projects may provide beneficial solutions. The upgrading and renewal of existing networks is always a challenge to the development of a modern city and the welfare of citizens. Central governance and management of transport systems, the establishment of smart and digital infrastructure, advanced surveillance and traffic monitoring, and intra-city energy-harvesting policy are some of the steps to be taken during the transition to a green and sustainable urban future.Municipal authorities have also to consider other options and strategies to create a citizen-friendly setting for mobility: diminish the need for trips (digitalization of services, e-commerce, etc.), shift from private to public transport and transform the urban form to promote non-motorized transport in favor of the natural environment and public health. A citizen-friendly policy based on the anticipation of future needs and technological development seems to be a requisite for European cities searching for a smooth integration of their networks into urban space.","PeriodicalId":41907,"journal":{"name":"Journal of Infrastructure Policy and Development","volume":"1 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-12-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90156944","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We estimated how investment in 12 infrastructure types affects employment in Portugal. Using a vector-autoregressive specification at the industry level, we found a double dividend associated with ports and airports: investing in either delivers the greatest bang per euro, both on impact and in the long run. One million euros invested in ports and airports creates 717.1 and 290.5 jobs in the long run, respectively, and 535 and 253.3 jobs in the short run, respectively. Regarding long-term employment effects, these are followed by municipal roads, telecommunications, national roads, health structures, education facilities, refineries, railroads, and highways. Water infrastructures and electricity and gas infrastructures have negligible effects. With the long-term effects decomposed, sizable supply-side employment effects for health and education facilities exist, while demand-side effects dominate for airports, ports, municipal roads, and telecommunications. Employment following the investment in national roads is balanced across demand and supply channels. We found no significant employment-related location effects of infrastructure investments. Also, investing in either health facilities or in education buildings entails non-negligible job losses in the short run. These results suggest that the magnitude and the timing of job creation crucially depend on the type of infrastructure investment. Policymakers in Portugal need to be aware of this in choosing between countercyclical or structural targets.
{"title":"Infrastructure investment and employment: Evidence for Portugal","authors":"A. Pereira, R. Pereira, Pedro G. Rodrigues","doi":"10.24294/jipd.v5i2.1377","DOIUrl":"https://doi.org/10.24294/jipd.v5i2.1377","url":null,"abstract":"We estimated how investment in 12 infrastructure types affects employment in Portugal. Using a vector-autoregressive specification at the industry level, we found a double dividend associated with ports and airports: investing in either delivers the greatest bang per euro, both on impact and in the long run. One million euros invested in ports and airports creates 717.1 and 290.5 jobs in the long run, respectively, and 535 and 253.3 jobs in the short run, respectively. Regarding long-term employment effects, these are followed by municipal roads, telecommunications, national roads, health structures, education facilities, refineries, railroads, and highways. Water infrastructures and electricity and gas infrastructures have negligible effects. With the long-term effects decomposed, sizable supply-side employment effects for health and education facilities exist, while demand-side effects dominate for airports, ports, municipal roads, and telecommunications. Employment following the investment in national roads is balanced across demand and supply channels. We found no significant employment-related location effects of infrastructure investments. Also, investing in either health facilities or in education buildings entails non-negligible job losses in the short run. These results suggest that the magnitude and the timing of job creation crucially depend on the type of infrastructure investment. Policymakers in Portugal need to be aware of this in choosing between countercyclical or structural targets.","PeriodicalId":41907,"journal":{"name":"Journal of Infrastructure Policy and Development","volume":"79 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87848088","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Narendra N. Dalei, A. S. Chourasia, N. Sethi, S. Balabantaray, U. Pani
Sustainable ocean tourism is required to establish a balance between the environmental, economic, social and cultural aspects of ocean tourism development. Sustainable ocean tourism also contributes to local and national economies, enhancing the quality of social life and protecting the ecology. Sustainable ocean tourism expands the positive contribution of tourism to biodiversity conservation and poverty reduction and aims to attain the common goals of sustainable developments for ocean tourism. Sustainable ocean tourism is possible due to the roles of regulators and private and government institutions. Government policies, regulations and guidelines play vital roles towards achieving the sustainability of ocean tourism. However, the role of institutions also cannot be ignored, which provide support in the innovation of technologies and the implementation of policies. The paper targets to investigate the roles of regulations, policies and institutions in the sustainability of ocean tourism. A primary online survey on the perception of tourism experts was conducted for this study using Google Forms. The tourism experts were invited from all over the world to participate in the survey. The study received a total of 33 responses, out of which only 30 valid responses were considered. Using the Tobit regression model, the study found that, while regulations in India relative to foreign countries significantly boost the sustainability of ocean tourism, government policies and public institutions in India relative to foreign countries remain insignificant in predicting the sustainability of ocean tourism. Therefore, government policies and public institutions in India need to be revised and reformulated to make them important drivers of the sustainability of ocean tourism.
{"title":"Roles of policies, regulations and institutions in sustainability of ocean tourism","authors":"Narendra N. Dalei, A. S. Chourasia, N. Sethi, S. Balabantaray, U. Pani","doi":"10.24294/jipd.v5i2.1295","DOIUrl":"https://doi.org/10.24294/jipd.v5i2.1295","url":null,"abstract":"Sustainable ocean tourism is required to establish a balance between the environmental, economic, social and cultural aspects of ocean tourism development. Sustainable ocean tourism also contributes to local and national economies, enhancing the quality of social life and protecting the ecology. Sustainable ocean tourism expands the positive contribution of tourism to biodiversity conservation and poverty reduction and aims to attain the common goals of sustainable developments for ocean tourism. Sustainable ocean tourism is possible due to the roles of regulators and private and government institutions. Government policies, regulations and guidelines play vital roles towards achieving the sustainability of ocean tourism. However, the role of institutions also cannot be ignored, which provide support in the innovation of technologies and the implementation of policies. The paper targets to investigate the roles of regulations, policies and institutions in the sustainability of ocean tourism. A primary online survey on the perception of tourism experts was conducted for this study using Google Forms. The tourism experts were invited from all over the world to participate in the survey. The study received a total of 33 responses, out of which only 30 valid responses were considered. Using the Tobit regression model, the study found that, while regulations in India relative to foreign countries significantly boost the sustainability of ocean tourism, government policies and public institutions in India relative to foreign countries remain insignificant in predicting the sustainability of ocean tourism. Therefore, government policies and public institutions in India need to be revised and reformulated to make them important drivers of the sustainability of ocean tourism.","PeriodicalId":41907,"journal":{"name":"Journal of Infrastructure Policy and Development","volume":"24 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73742448","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ride-hailing or private hire has been around the globe for a decade now but even less in Asia. Singapore has had more than three revisions to its ride-hailing regulation in the six years since the arrival of the disruptive technology, the most for an Asian city. Often quoted in the list of cities with a commendable public transport policy, Singapore still manages to find a viable and significant position for ride-hailing. Singapore, to a large extent, has formulated a successful model based on current market parameters and, more importantly, an adaptive one that evolves constantly with the continually disruptive technology. But how does this compare to cities around the globe? Global cities have formulated different policy regulations for the sector, with each one of them enjoying varying degrees of success and failure. Utilizing a mixed-methods approach using qualitative and quantitative data, Singapore’s ride-hailing sector was benchmarked with chiefly nine global cities. The qualitative data was analyzed using the 3-element model of the social practice theory as an alternative to conventional behavioral studies, thereby eliminating bias on the commuters and rather shifting focus to the practice. The findings were validated by statistical analysis of quantitative data, namely, trip information from the ride-hailing sector in Singapore and driver earnings. The unique addition of the research to ride-hailing policy is the comprehension of the commonalities and patterns across industrial and technological disruption, practice and policy irrespective of sectoral variations thanks to the utilization of the social practice theory. The first-of-its-kind policy exercise in the sector can be repeated for any city, which is a direct testament to the simplicity and exhaustivity of the methodology, benefitting both operators and investors through equitable policy formulation.
{"title":"Benchmarking ride-hailing regulation in global cities using mixed-method approach and social practice theory","authors":"Sreyus Palliyani, Der-Horng Lee","doi":"10.24294/jipd.v5i2.1338","DOIUrl":"https://doi.org/10.24294/jipd.v5i2.1338","url":null,"abstract":"Ride-hailing or private hire has been around the globe for a decade now but even less in Asia. Singapore has had more than three revisions to its ride-hailing regulation in the six years since the arrival of the disruptive technology, the most for an Asian city. Often quoted in the list of cities with a commendable public transport policy, Singapore still manages to find a viable and significant position for ride-hailing. Singapore, to a large extent, has formulated a successful model based on current market parameters and, more importantly, an adaptive one that evolves constantly with the continually disruptive technology. But how does this compare to cities around the globe? Global cities have formulated different policy regulations for the sector, with each one of them enjoying varying degrees of success and failure. Utilizing a mixed-methods approach using qualitative and quantitative data, Singapore’s ride-hailing sector was benchmarked with chiefly nine global cities. The qualitative data was analyzed using the 3-element model of the social practice theory as an alternative to conventional behavioral studies, thereby eliminating bias on the commuters and rather shifting focus to the practice. The findings were validated by statistical analysis of quantitative data, namely, trip information from the ride-hailing sector in Singapore and driver earnings. The unique addition of the research to ride-hailing policy is the comprehension of the commonalities and patterns across industrial and technological disruption, practice and policy irrespective of sectoral variations thanks to the utilization of the social practice theory. The first-of-its-kind policy exercise in the sector can be repeated for any city, which is a direct testament to the simplicity and exhaustivity of the methodology, benefitting both operators and investors through equitable policy formulation.","PeriodicalId":41907,"journal":{"name":"Journal of Infrastructure Policy and Development","volume":"1 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85355906","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The world has complex mega-cities and interdependent infrastructures. This complication in infrastructure relations makes it sensitive to disasters and failures. Cascading failure causes blackouts for the whole system of infrastructures during disasters and the lack of performance of the emergency management stakeholders is clear during a disaster due to the complexity of the system. This research aimed to develop a new concurrent engineering model following the total recovery effort. The objectives of this research were to identify the clustered intervention utilized in the field of resilience and developing a cross-functional intervention network to enhance the resilience of societies during a disaster. Content analysis was employed to classify and categorize the intervention in the main divisions and sub-divisions and the grouping of stakeholders. The transposing system was employed to develop an integrated model. The result of this research showed that the operations division achieved the highest weight of information interchange during the response to improve the resilience of the system. The committee of logistics and the committee of rescue and relief needed the widest bandwidth of information flow in the concurrent engineering (CE) model. The contributed CE model helped the stakeholders provide a resilient response system. The final model and the relative share value of exchanging information for each workgroup can speed up recovery actions. This research found that concurrent engineering (CE) is a viable concept to be implemented as a strategy for emergency management. The result of this research can help policymakers achieve a collaborative teamwork environment and to improve resilience factors during emergency circumstances for critical infrastructures.
{"title":"The role of concurrent engineering in resilient critical infrastructures during disasters","authors":"M. A. Nekooie","doi":"10.24294/jipd.v5i2.1290","DOIUrl":"https://doi.org/10.24294/jipd.v5i2.1290","url":null,"abstract":"The world has complex mega-cities and interdependent infrastructures. This complication in infrastructure relations makes it sensitive to disasters and failures. Cascading failure causes blackouts for the whole system of infrastructures during disasters and the lack of performance of the emergency management stakeholders is clear during a disaster due to the complexity of the system. This research aimed to develop a new concurrent engineering model following the total recovery effort. The objectives of this research were to identify the clustered intervention utilized in the field of resilience and developing a cross-functional intervention network to enhance the resilience of societies during a disaster. Content analysis was employed to classify and categorize the intervention in the main divisions and sub-divisions and the grouping of stakeholders. The transposing system was employed to develop an integrated model. The result of this research showed that the operations division achieved the highest weight of information interchange during the response to improve the resilience of the system. The committee of logistics and the committee of rescue and relief needed the widest bandwidth of information flow in the concurrent engineering (CE) model. The contributed CE model helped the stakeholders provide a resilient response system. The final model and the relative share value of exchanging information for each workgroup can speed up recovery actions. This research found that concurrent engineering (CE) is a viable concept to be implemented as a strategy for emergency management. The result of this research can help policymakers achieve a collaborative teamwork environment and to improve resilience factors during emergency circumstances for critical infrastructures.","PeriodicalId":41907,"journal":{"name":"Journal of Infrastructure Policy and Development","volume":"149 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-11-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82548768","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Increasingly, U.S. cities are focusing on transit-oriented development (TOD) policies to expand the stock of higher-density, mixed-use development near public transit stations within the context of a transit corridor and, in most cases, a regional metropolis. A TOD zone relies on a regulatory and institutional environment, public and private participation and investment, and development incentives to create vibrant, people-oriented communities and mobility options and to support business development. TODs provide local governments with more tax revenues due to increased property values (and, as applicable, income and sales tax revenues), but most planning for TODs ignores the non-transit infrastructure costs of increasing development density. This study focused on determining the water and sewer infrastructure costs for TOD zones along a rail line in southeast Florida. The finding was that millions of dollars in funds are needed to meet those water and sewer needs and that few are currently planned as a part of community capital improvement programs.
{"title":"Unaccounted infrastructure needs for transit-oriented developments","authors":"F. Bloetscher, J. Renne, Serena Hoermann","doi":"10.24294/jipd.v5i2.1271","DOIUrl":"https://doi.org/10.24294/jipd.v5i2.1271","url":null,"abstract":"Increasingly, U.S. cities are focusing on transit-oriented development (TOD) policies to expand the stock of higher-density, mixed-use development near public transit stations within the context of a transit corridor and, in most cases, a regional metropolis. A TOD zone relies on a regulatory and institutional environment, public and private participation and investment, and development incentives to create vibrant, people-oriented communities and mobility options and to support business development. TODs provide local governments with more tax revenues due to increased property values (and, as applicable, income and sales tax revenues), but most planning for TODs ignores the non-transit infrastructure costs of increasing development density. This study focused on determining the water and sewer infrastructure costs for TOD zones along a rail line in southeast Florida. The finding was that millions of dollars in funds are needed to meet those water and sewer needs and that few are currently planned as a part of community capital improvement programs.","PeriodicalId":41907,"journal":{"name":"Journal of Infrastructure Policy and Development","volume":"22 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84433499","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper reviews and compares the opportunities and challenges in terms of port and intermodal development in China and India—the two fast-growing economic giants in the world. The study analyzes the future direction of these two countries’ port-hinterland intermodal development from the sustainability perspective. Both China and India face some major opportunities and challenges in port-hinterland intermodal development. The proposal of the Silk Road Economic Belt and the 21st-century Maritime Silk Road, also known as the Belt and Road Initiative (BRI), offers plentiful opportunities for China. A challenge for China is that its development of dry ports is still in the infancy stage and thus it is unable to catch up with the pace of rapid economic growth. As compared with China, India focuses more on the social aspect to protect the welfare of its residents, which in turn jeopardizes India’s port-hinterland intermodal development in the economic sense. The biggest challenge for India is its social institution, which would take a long time to change. These in-depth comparative analyses not only give the future direction of port-hinterland intermodal development in China and India but also provide references for other countries with similar backgrounds.
{"title":"Sustainable port-hinterland intermodal development: Opportunities and challenges for China and India","authors":"Yimiao Gu, Hui Shan Loh, W. Yap","doi":"10.24294/jipd.v4i2.1227","DOIUrl":"https://doi.org/10.24294/jipd.v4i2.1227","url":null,"abstract":"This paper reviews and compares the opportunities and challenges in terms of port and intermodal development in China and India—the two fast-growing economic giants in the world. The study analyzes the future direction of these two countries’ port-hinterland intermodal development from the sustainability perspective. Both China and India face some major opportunities and challenges in port-hinterland intermodal development. The proposal of the Silk Road Economic Belt and the 21st-century Maritime Silk Road, also known as the Belt and Road Initiative (BRI), offers plentiful opportunities for China. A challenge for China is that its development of dry ports is still in the infancy stage and thus it is unable to catch up with the pace of rapid economic growth. As compared with China, India focuses more on the social aspect to protect the welfare of its residents, which in turn jeopardizes India’s port-hinterland intermodal development in the economic sense. The biggest challenge for India is its social institution, which would take a long time to change. These in-depth comparative analyses not only give the future direction of port-hinterland intermodal development in China and India but also provide references for other countries with similar backgrounds.","PeriodicalId":41907,"journal":{"name":"Journal of Infrastructure Policy and Development","volume":"1 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2020-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81141982","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Cross-border infrastructure projects offer significant economic and social benefits for the Asia-Pacific region. If the required investment of $8 trillion in pan-Asian connectivity was made in the region’s infrastructure during 2010–2020, the total net income gains for developing Asia could reach about $12.98 trillion (in 2008 US dollars) during 2010–2020 and beyond, of which more than $4.43 trillion would be gained during 2010–2020 and nearly $8.55 trillion after 2020. Indeed, infrastructure connectivity helps improve regional productivity and competitiveness by facilitating the movement of goods, services and human resources, producing economies of scale, promoting trade and foreign direct investments, creating new business opportunities, stimulating inclusive industrialization and narrowing development gaps between communities, countries or sub-regions. Unfortunately, due to limited financing, progress in the development of cross-border infrastructure in the region is low.This paper examines the key challenges faced in financing cross-border projects and discusses the roles that different stakeholders—national governments, state-owned enterprises, private sector, regional entities, development financing institutions (DFIs), affected people and civil society organizations—can play in facilitating the development of cross-border infrastructure in the region. In particular, this paper highlights the major risks that deter private sector investments and FDIs and provides recommendations to address these risks.
{"title":"Attracting private financing in cross-border infrastructure investments","authors":"Jyoti Bisbey, Lili Li, Qingyang Gu, Ching-Yuan Chu","doi":"10.24294/jipd.v4i2.1199","DOIUrl":"https://doi.org/10.24294/jipd.v4i2.1199","url":null,"abstract":"Cross-border infrastructure projects offer significant economic and social benefits for the Asia-Pacific region. If the required investment of $8 trillion in pan-Asian connectivity was made in the region’s infrastructure during 2010–2020, the total net income gains for developing Asia could reach about $12.98 trillion (in 2008 US dollars) during 2010–2020 and beyond, of which more than $4.43 trillion would be gained during 2010–2020 and nearly $8.55 trillion after 2020. Indeed, infrastructure connectivity helps improve regional productivity and competitiveness by facilitating the movement of goods, services and human resources, producing economies of scale, promoting trade and foreign direct investments, creating new business opportunities, stimulating inclusive industrialization and narrowing development gaps between communities, countries or sub-regions. Unfortunately, due to limited financing, progress in the development of cross-border infrastructure in the region is low.This paper examines the key challenges faced in financing cross-border projects and discusses the roles that different stakeholders—national governments, state-owned enterprises, private sector, regional entities, development financing institutions (DFIs), affected people and civil society organizations—can play in facilitating the development of cross-border infrastructure in the region. In particular, this paper highlights the major risks that deter private sector investments and FDIs and provides recommendations to address these risks.","PeriodicalId":41907,"journal":{"name":"Journal of Infrastructure Policy and Development","volume":"12 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2020-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76689379","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Infrastructure investment has long been held as an accelerator or a driver of the economy. Internationally, the UK ranks poorly with the performance of infrastructure and ranks in the lower percentile for both infrastructure investment and GDP growth rate amongst comparative nations. Faced with the uncertainty of Brexit and the likely negative economic impact this will bring, infrastructure investment may be used to strengthen the UK economy. This study aims to examine how infrastructure funding impacts economic growth and how best the UK can maximize this potential by building on existing work.The research method is based on interviews carried out with respondents involved in infrastructure operating across various sectors. The findings show that investment in infrastructure is vital in the UK as it stimulates economic growth through employment creation due to factor productivity. However, it is critical for investment to be directed to regional opportunity areas with the potential to unlock economic growth and maximize returns whilst stimulating further growth to benefit other regions. There is also a need for policy consistency and to review UK infrastructure policy to streamline the process and to reduce cost and time overrun, with Brexit likely to impact negatively on infrastructure investment.
{"title":"The impact of infrastructure investment on economic growth in the United Kingdom","authors":"R. Seidu, B. Young, H. Robinson, Michael Ryan","doi":"10.24294/jipd.v4i2.1206","DOIUrl":"https://doi.org/10.24294/jipd.v4i2.1206","url":null,"abstract":"Infrastructure investment has long been held as an accelerator or a driver of the economy. Internationally, the UK ranks poorly with the performance of infrastructure and ranks in the lower percentile for both infrastructure investment and GDP growth rate amongst comparative nations. Faced with the uncertainty of Brexit and the likely negative economic impact this will bring, infrastructure investment may be used to strengthen the UK economy. This study aims to examine how infrastructure funding impacts economic growth and how best the UK can maximize this potential by building on existing work.The research method is based on interviews carried out with respondents involved in infrastructure operating across various sectors. The findings show that investment in infrastructure is vital in the UK as it stimulates economic growth through employment creation due to factor productivity. However, it is critical for investment to be directed to regional opportunity areas with the potential to unlock economic growth and maximize returns whilst stimulating further growth to benefit other regions. There is also a need for policy consistency and to review UK infrastructure policy to streamline the process and to reduce cost and time overrun, with Brexit likely to impact negatively on infrastructure investment.","PeriodicalId":41907,"journal":{"name":"Journal of Infrastructure Policy and Development","volume":"45 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2020-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83309855","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Minsoo Lee, Xuehui Han, Pilipinas F. Quising, Mai Lin Villaruel
Developing Asia’s infrastructure gap results from both inadequate public resources and a lack of effective channels to mobilize private resources toward desired outcomes. The public-private partnership (PPP) mechanism has evolved to fill the infrastructure gap. However, PPP projects are often at risk of becoming distressed, or worst, being terminated because of the long-term nature of contracts and the many different stakeholders involved. This paper applies survival-time hazard analysis to estimate how project-related, macroeconomic, and institutional factors affect the hazard rate of the projects. Empirical results show that government’s provision of guarantees, involvement of multilateral development banks, and existence of a dedicated PPP unit are important for a project’s success. Privately initiated proposals should be regulated and undergo competitive bidding to reduce the hazard rate of the project and the corresponding burden to the government. Economic growth leads to successful project outcomes. Improved legal and institutional environment can ensure PPP success.
{"title":"Hazard analysis on public-private partnership projects in developing Asia","authors":"Minsoo Lee, Xuehui Han, Pilipinas F. Quising, Mai Lin Villaruel","doi":"10.24294/jipd.v4i1.1165","DOIUrl":"https://doi.org/10.24294/jipd.v4i1.1165","url":null,"abstract":"Developing Asia’s infrastructure gap results from both inadequate public resources and a lack of effective channels to mobilize private resources toward desired outcomes. The public-private partnership (PPP) mechanism has evolved to fill the infrastructure gap. However, PPP projects are often at risk of becoming distressed, or worst, being terminated because of the long-term nature of contracts and the many different stakeholders involved. This paper applies survival-time hazard analysis to estimate how project-related, macroeconomic, and institutional factors affect the hazard rate of the projects. Empirical results show that government’s provision of guarantees, involvement of multilateral development banks, and existence of a dedicated PPP unit are important for a project’s success. Privately initiated proposals should be regulated and undergo competitive bidding to reduce the hazard rate of the project and the corresponding burden to the government. Economic growth leads to successful project outcomes. Improved legal and institutional environment can ensure PPP success.","PeriodicalId":41907,"journal":{"name":"Journal of Infrastructure Policy and Development","volume":"1 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2020-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82377065","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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