Macroeconomic and Welfare Effects of Public Infrastructure Investment in Five Latin American Countries

Arbeitspapier

It has been widely documented that investment in infrastructure is important for economic growth, but little work has been done in relation to the impact of infrastructure investment on other macroeconomic variables. This paper develops a Dynamic Stochastic General Equilibrium (DSGE) model of a small open economy to study the effects of public investment in infrastructure on output, consumption, private investment, trade balance and welfare. The model is parameterized and solved for five representative countries from The Initiative for the Integration of Regional Infrastructure in South America (IIRSA), which include: Bolivia, Chile, Brazil, Venezuela and Argentina. I also analyze the growth effects on GDP by increasing or decreasing the effectiveness index of infrastructure in each of these countries. Naturally output will grow at a larger rate, if infrastructure is handled with greater efficiency.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Development Research Working Paper Series ; No. 14/2007

Klassifikation und Themen

• Klassifikation: Wirtschaft ; National Government Expenditures and Related Policies: Infrastructures; Other Public Investment and Capital Stock ; Economic Growth and Aggregate Productivity: General ; Welfare Economics: General
• Thema: Infrastructure ; Economic Growth ; Welfare

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Machicado, Carlos Gustavo
• Ereignis: Veröffentlichung
• (wer): Institute for Advanced Development Studies (INESAD)
• (wo): La Paz
• (wann): 2007

Weitere Informationen

• Handle: http://hdl.handle.net/10419/189549
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ