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The Growth Return of Infrastructure in Latin America
Author:
Mr. Sergi Lanau
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Series:
IMF Working Papers
Volume/Issue:
Volume 2017: Issue 035
Language:
English
Publication Date:
14 Feb 2017
DOI:
https://doi.org/10.5089/9781475578959.001
ISBN:
9781475578959
ISSN:
1018-5941
Pages:
20
Keywords:
WP; infrastructure; growth; investment; investment rate; investment analysis; rate of firm; investment regression; investment plan; infrastructure investment; Transportation; Corporate investment; Emerging and frontier financial markets; Stocks; Global
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper examines the effects of improvements in infrastrucutre on sectoral growth and firm-level investment, focusing on six Latin American countries. Exploiting the heterogeneity in the quality of infrastructure across countries and the intrinsic variation in the dependence of sectors on infrastructure, I find that better infrastructure raises growth and investment. Improved infrastructure could yield large economic benefits. For example, if the quality of infrastructure in Colombia increased to the sample median (Czech Republic), GDP growth would increase by about 0.1 percentage points.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund