Beyond Keynesianism : Global Infrastructure Investments in Times of Crisis

Lin, Justin Yifu; Doemeland, Doerte

dc.creator	Lin, Justin Yifu
dc.creator	Doemeland, Doerte
dc.date	2012-03-19T17:28:35Z
dc.date	2012-03-19T17:28:35Z
dc.date	2012-01-01
dc.date.accessioned	2023-02-17T20:49:23Z
dc.date.available	2023-02-17T20:49:23Z
dc.identifier	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20120110085008
dc.identifier	http://hdl.handle.net/10986/3225
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/243577
dc.description	As the world recovers only slowly from the 2008 financial crisis and Europe is facing a looming debt crisis, concerns have increased that the "new normal" -- a period of high unemployment, low returns on investment, high risks, and low growth -- may become protracted in advanced economies. If growth remains weak, unemployment rates and debt levels will be slow to recede. Consequently, the global recovery may continue to be fragile for years to come. What the world needs now is a growth-lifting strategy. This strategy could take the form of a global infrastructure initiative. Since debt levels are high, governments in the United States and Europe could increase demand and support growth through investments in bottleneck-releasing infrastructure projects that are self-financing. An infrastructure initiative should, however, go beyond the borders of advanced countries and include developing countries. Economic and social returns to infrastructure investments tend to be high in developing countries, which have become increasingly important drivers of global growth. At the same time, infrastructure investments require capital goods, most of which are produced in high-income countries. Scaling up infrastructure investment in developing countries could therefore help generate a virtuous cycle in support of a global recovery.
dc.language	English
dc.relation	Policy Research working paper ; no. WPS 5940
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo/
dc.rights	World Bank
dc.subject	ACCOUNTING
dc.subject	ACCOUNTING STANDARDS
dc.subject	ACID RAIN
dc.subject	AGGLOMERATION ECONOMIES
dc.subject	AIRPORTS
dc.subject	BALANCE SHEET
dc.subject	BALANCE SHEETS
dc.subject	BANK GUARANTEE
dc.subject	BANK LOANS
dc.subject	BANKING CRISES
dc.subject	BOND
dc.subject	BOND ISSUANCES
dc.subject	BOND MARKETS
dc.subject	BOTTLENECKS
dc.subject	BRIDGE
dc.subject	BUDGET CONSTRAINT
dc.subject	BUDGET CONSTRAINTS
dc.subject	BUDGETARY FRAMEWORK
dc.subject	BUSINESS CYCLE
dc.subject	CAPITAL FLOWS
dc.subject	CAPITAL FORMATION
dc.subject	CAPITAL MARKETS
dc.subject	CAPITAL STOCK
dc.subject	CARBON EMISSIONS
dc.subject	CONTINGENT LIABILITIES
dc.subject	COUNTRY RISK
dc.subject	COUNTRY RISKS
dc.subject	CREDIT SPREADS
dc.subject	CREDITOR
dc.subject	CREDITORS
dc.subject	CREDITWORTHINESS
dc.subject	DEBT
dc.subject	DEBT BURDEN
dc.subject	DEBT CRISIS
dc.subject	DEBT LEVELS
dc.subject	DEBT SERVICE
dc.subject	DECENTRALIZATION
dc.subject	DEFAULT RISK
dc.subject	DEVELOPING COUNTRIES
dc.subject	DEVELOPMENT BANK
dc.subject	DISBURSEMENTS
dc.subject	DOMESTIC CAPITAL
dc.subject	DOMESTIC CAPITAL MARKET
dc.subject	DOMESTIC CAPITAL MARKETS
dc.subject	DOMESTIC CURRENCY
dc.subject	DRIVERS
dc.subject	ECONOMIC DEVELOPMENT
dc.subject	ECONOMIES OF SCALE
dc.subject	ELASTICITY
dc.subject	EMERGING ECONOMIES
dc.subject	EMERGING MARKET
dc.subject	EMERGING MARKET ECONOMIES
dc.subject	EMERGING MARKETS
dc.subject	ENVIRONMENTAL COSTS
dc.subject	ENVIRONMENTAL DAMAGES
dc.subject	ENVIRONMENTAL PROTECTION
dc.subject	ENVIRONMENTAL PROTECTION AGENCY
dc.subject	EQUITY FUND
dc.subject	EXCHANGE RATE
dc.subject	EXPENDITURE
dc.subject	EXPENDITURES
dc.subject	EXPORTERS
dc.subject	EXTERNAL BORROWING
dc.subject	FINANCE INFRASTRUCTURE
dc.subject	FINANCES
dc.subject	FINANCIAL ASSETS
dc.subject	FINANCIAL CRISIS
dc.subject	FINANCIAL INSTITUTIONS
dc.subject	FINANCIAL STABILITY
dc.subject	FINANCIAL STRESS
dc.subject	FISCAL POLICY
dc.subject	FORECLOSURES
dc.subject	FOREIGN CURRENCY
dc.subject	FOREIGN INVESTMENTS
dc.subject	FOSSIL FUEL
dc.subject	FOSSIL FUEL ENERGY
dc.subject	FUEL
dc.subject	GLOBAL CLIMATE CHANGE
dc.subject	GLOBAL MARKETS
dc.subject	GLOBAL TRADE
dc.subject	GOVERNMENT BONDS
dc.subject	GOVERNMENT BUDGETS
dc.subject	GOVERNMENT DEBT
dc.subject	GOVERNMENT GUARANTEES
dc.subject	GOVERNMENT SPENDING
dc.subject	HIGH TRANSPORT
dc.subject	HIGHWAY
dc.subject	HIGHWAY ACT
dc.subject	HIGHWAY ADMINISTRATION
dc.subject	HIGHWAYS
dc.subject	HOST COUNTRIES
dc.subject	HOUSEHOLD INCOMES
dc.subject	HUMAN CAPITAL
dc.subject	INCOME LEVELS
dc.subject	INFLATION
dc.subject	INFLATION RATES
dc.subject	INFLATIONARY EXPECTATIONS
dc.subject	INFRASTRUCTURE BONDS
dc.subject	INFRASTRUCTURE COSTS
dc.subject	INFRASTRUCTURE DEVELOPMENT
dc.subject	INFRASTRUCTURE FINANCE
dc.subject	INFRASTRUCTURE FINANCING
dc.subject	INFRASTRUCTURE FUNDING
dc.subject	INFRASTRUCTURE INVESTMENT
dc.subject	INFRASTRUCTURE INVESTMENTS
dc.subject	INFRASTRUCTURE PROJECTS
dc.subject	INSTITUTIONAL INVESTOR
dc.subject	INSTITUTIONAL INVESTORS
dc.subject	INSURANCE
dc.subject	INSURANCE COMPANIES
dc.subject	INTEREST RATE
dc.subject	INTEREST RATES
dc.subject	INTERNATIONAL BANK
dc.subject	INTERNATIONAL BOND
dc.subject	INTERNATIONAL FINANCIAL INSTITUTIONS
dc.subject	INTERNATIONAL FINANCIAL MARKETS
dc.subject	INTERNATIONAL INVESTORS
dc.subject	INTERNATIONAL ROAD FEDERATION
dc.subject	INTERSTATE HIGHWAY SYSTEM
dc.subject	INVESTING
dc.subject	INVESTMENT HORIZON
dc.subject	INVESTMENT IN ROADS
dc.subject	INVESTMENT OPPORTUNITIES
dc.subject	INVESTMENT RISKS
dc.subject	INVESTMENT SPENDING
dc.subject	INVESTMENT STRATEGY
dc.subject	INVESTOR BASE
dc.subject	ISSUANCES
dc.subject	LAND TRANSPORT
dc.subject	LEGAL FRAMEWORK
dc.subject	LIABILITY
dc.subject	LIQUID ASSETS
dc.subject	LIQUIDITY
dc.subject	LOAN
dc.subject	LOAN GUARANTEES
dc.subject	LOCAL BANKS
dc.subject	LOCAL ECONOMY
dc.subject	LOCAL GOVERNMENTS
dc.subject	LONG-TERM INVESTMENTS
dc.subject	LONG-TERM INVESTORS
dc.subject	MACROECONOMIC POLICIES
dc.subject	MACROECONOMIC POLICY
dc.subject	MACROECONOMIC STABILITY
dc.subject	MARKET SHARE
dc.subject	MASS TRANSIT
dc.subject	MONETARY POLICY
dc.subject	MULTILATERAL LENDERS
dc.subject	NATIONAL INFRASTRUCTURE
dc.subject	NATURAL DISASTERS
dc.subject	PENSION
dc.subject	PENSION FUNDS
dc.subject	POLICY RESPONSE
dc.subject	POLITICAL RISK
dc.subject	POPULATION DENSITY
dc.subject	PORT FACILITIES
dc.subject	PORTFOLIO
dc.subject	PORTFOLIOS
dc.subject	PRIVATE CAPITAL
dc.subject	PRIVATE EQUITY
dc.subject	PRIVATE FINANCE
dc.subject	PRIVATE FINANCING
dc.subject	PRIVATE INVESTMENT
dc.subject	PRIVATE INVESTMENTS
dc.subject	PRIVATE INVESTOR
dc.subject	PRIVATE INVESTORS
dc.subject	PRIVATE PARTIES
dc.subject	PUBLIC BANKS
dc.subject	PUBLIC DEBT
dc.subject	PUBLIC FUNDS
dc.subject	PUBLIC INVESTMENT
dc.subject	PUBLIC PARTNERSHIPS
dc.subject	PUBLIC SAVING
dc.subject	PUBLIC TRANSPORTATION
dc.subject	PUBLIC WORKS
dc.subject	RAILWAYS
dc.subject	RATES OF RETURN
dc.subject	REGULATORY FRAMEWORK
dc.subject	REGULATORY FRAMEWORKS
dc.subject	REINVESTMENT
dc.subject	REPAYMENT
dc.subject	REPAYMENTS
dc.subject	RETURN
dc.subject	RETURNS
dc.subject	RETURNS ON EQUITY
dc.subject	RISK AVERSION
dc.subject	RISK OF DEFAULT
dc.subject	ROAD
dc.subject	ROAD IMPROVEMENTS
dc.subject	ROAD MAINTENANCE
dc.subject	ROAD SYSTEM
dc.subject	ROADS
dc.subject	RURAL ROADS
dc.subject	RURAL TRANSPORT
dc.subject	SANITATION
dc.subject	SECONDARY MARKET
dc.subject	SECONDARY MARKET ACTIVITY
dc.subject	SHORT MATURITIES
dc.subject	SHORT-TERM INSTRUMENTS
dc.subject	SOCIAL CAPITAL
dc.subject	SOVEREIGN DEBT
dc.subject	SOVEREIGN DEFAULT
dc.subject	STOCK MARKETS
dc.subject	STOCKS
dc.subject	TAX
dc.subject	TAX COLLECTION
dc.subject	TELECOMMUNICATIONS
dc.subject	TRADE BALANCE
dc.subject	TRADING
dc.subject	TRANSACTION
dc.subject	TRANSACTION COSTS
dc.subject	TRANSIT SYSTEMS
dc.subject	TRANSPORT COSTS
dc.subject	TRANSPORTATION
dc.subject	TRANSPORTATION EQUIPMENT
dc.subject	TRIP
dc.subject	TRUCKS
dc.subject	TRUE
dc.subject	VEHICLE
dc.subject	WATER POLLUTION
dc.subject	WEALTH
dc.subject	YIELD CURVE
dc.title	Beyond Keynesianism : Global Infrastructure Investments in Times of Crisis
dc.type	Publications & Research :: Policy Research Working Paper
dc.coverage	The World Region
dc.coverage	The World Region