000			01499nam a22001457a 4500
999			_c525543 _d525543
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100			_aGardner, Camille and Henry, Peter Blair _950700
245			_aThe global infrastructure gap: Potential, perils, and a framework for distinction
260			_aJournal of Economic Literature
300			_a61(4), Dec, 2023: p.1318-1358
520			_aIn 2015, the World Bank claimed that rich-country private capital could: (i) close the infrastructure services gap in poor countries, (ii) achieve the sustainable development goals, and (iii) make money by moving from "billions to trillions" of investment in poor-country infrastructure. Our framework distinguishes those poor countries in which the Bank's claim is tenable from those where it is not. For a given poor country, the framework reveals that investing a dollar in infrastructure is efficient if the social rate of return on infrastructure clears two hurdles: (a) the social rate of return on private capital in the poor country, and (b) the social rate of return on private capital in rich countries. Applying the framework to the only comprehensive, cross-country dataset of social rates of return on infrastructure indicates that in 1985 just 7 of 53 poor countries cleared the dual hurdles in both paved roads and electricity.- Reproduced https://www.aeaweb.org/articles?id=10.1257/jel.20221530
773			_aJournal of Economic Literature
906			_aINFRASTRUCTURE
942			_cAR