Pub Date : 2024-02-20DOI: 10.1177/09749306231219734
A. Vining, Mark A. Moore, A. Boardman
There is very limited theory and policy guidance that specifically relates to multijurisdictional and multimodal (M&;M) infrastructure corridors: those that traverse national boundaries and encompass multiple modes of co-located infrastructure modes. This paper develops a framework for understanding the social welfare costs and benefits—and the barriers to implementing—these corridors. The framework posits the need for both a dedicated assembler and a national (or supranational) sponsor. An assembler provides the platform to match up initial property rights holders, infrastructure mode providers and end users. The sponsor financially and politically backstops an assembler. We decompose the economic necessity for, and advantages of, an assembler and also those that result from some degree of multimodality. We also consider the economic and political barriers to M&;M corridor implementation. To illustrate these, we review the evidence from the very small number of proposed or realised M&;M corridors and closely related projects. Although reliable evidence is scarce, it is consistent with the framework’s implications regarding the need for both an assembler and a sponsor.
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Pub Date : 2023-12-15DOI: 10.1177/09749306231198899
Rajeeve L, C. Ganesh
India’s economic reforms of 1991 were a radical shift from the dysfunctional development strategy and a move away from the socialistic approach that the country had followed in the previous decades. The reform measures significantly changed lives by improving living conditions and alleviating poverty. The economic reforms of 1991 are considered a boon to the state of Kerala, which was facing severe constraints in sourcing finance for infrastructure projects. This research attempts to establish a cause-and-effect relationship between foreign direct investment (FDI), infrastructure development and economic growth during the pre- and post-reforms period in the state. The study explores this issue using econometric analysis done on time-series data from 1970 to 2020. It analyses the impact of infrastructure financing on infrastructure development and economic growth at an aggregate level considering the state as a unit of analysis, using a multivariate method. The results of the research indicate that infrastructure development and economic growth have a positive moderate relationship with change in FDI. The findings may be used as reference material for further research on the impact of investments on economic development.
{"title":"The Impact of New Economic Reforms 1991 on Infrastructure Financing and Socio-economic Development of Kerala: An Appraisal after Three Decades","authors":"Rajeeve L, C. Ganesh","doi":"10.1177/09749306231198899","DOIUrl":"https://doi.org/10.1177/09749306231198899","url":null,"abstract":"India’s economic reforms of 1991 were a radical shift from the dysfunctional development strategy and a move away from the socialistic approach that the country had followed in the previous decades. The reform measures significantly changed lives by improving living conditions and alleviating poverty. The economic reforms of 1991 are considered a boon to the state of Kerala, which was facing severe constraints in sourcing finance for infrastructure projects. This research attempts to establish a cause-and-effect relationship between foreign direct investment (FDI), infrastructure development and economic growth during the pre- and post-reforms period in the state. The study explores this issue using econometric analysis done on time-series data from 1970 to 2020. It analyses the impact of infrastructure financing on infrastructure development and economic growth at an aggregate level considering the state as a unit of analysis, using a multivariate method. The results of the research indicate that infrastructure development and economic growth have a positive moderate relationship with change in FDI. The findings may be used as reference material for further research on the impact of investments on economic development.","PeriodicalId":509708,"journal":{"name":"Journal of Infrastructure Development","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139177808","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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