El discurso político de la inversión en infraestructura como algo bueno debe ser revisado. No siempre es así.

01Aug16

The Economics of Infrastructure in a Globalized World

There is a tendency in political discourse to assume that all spending labeled “infrastructure” is necessarily good and that in many countries the government is best placed to deliver these projects. It is clear from the debate among experts at the Sydney conference that this is far from the consensus view. Indeed, although there are potentially large theoretical gains from infrastructure investment for economic growth, the efficacy of infrastructure spending in practice is at best mixed. In order to improve the returns to infrastructure investment, there is a variety of issues in both developed and developing economies that need to be addressed, including: the measurement of the returns to infrastructure; the way in which projects should be evaluated; the delivery mechanisms and the ongoing regulatory environment. Rigorous analysis around all aspects of infrastructure spending is needed to improve the disappointing performance to date. Perhaps the worst time to relieve under- provision of infrastructure is during a crisis, especially when evaluation and delivery have not been thought through well in advance. A more transparent process of evaluation and delivery, as well as an improved understanding of the complexities of infrastructure, are investments in policy infrastructure well worth making.

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