Journal of Infrastructure, Policy and Development

Journal Information
ISSN / EISSN : 2572-7923 / 2572-7931
Current Publisher: EnPress Publisher (10.24294)
Total articles ≅ 70
Current Coverage
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Latest articles in this journal

Homi Kharas
Journal of Infrastructure, Policy and Development, Volume 5; doi:10.24294/jipd.v5i1.1245

Abstract:
COVID-19 and the economic response have amplified and changed the nature of development challenges in fundamental ways. Global development cooperation should adapt accordingly. This paper lays out the urgency for new methods of development cooperation that can deliver resource transfers at scale, oriented to addressing climate change and with transparency and better governance. It looks at what is actually happening to major donor countries’ development cooperation programs and where the principal gaps lie, and offers some thoughts on how to move forward, notwithstanding the clear geopolitical rivalries that are evident.The most immediate challenge is to provide a level of liquidity support to countries ravaged by the global economic downturn. Many developing countries will see double-digit declines in GDP, with some recording downturns not seen in peacetime. Alongside the short-term challenge of recovery, COVID-19 has laid bare longer-term trends that have pointed for some time to the lack of sustainability—environmental, social, and governance—in the way economic development was occurring in many places, including in advanced economies. This new landscape has significant implications for development cooperation in terms of scale, development/climate co-benefits, and transparency and accountability.
Jyoti Bisbey, Seyed Hossein Hosseini Nourzad, Ching-Yuan Chu, Maryam Ouhadi, Lili Li, Qingyang Gu
Journal of Infrastructure, Policy and Development, Volume 5; doi:10.24294/jipd.v5i1.1238

Rafiu Dimeji Seidu, Bert Ediale Young, Herbert Robinson, Michael Ryan
Journal of Infrastructure, Policy and Development, Volume 4, pp 217-227; doi:10.24294/jipd.v4i2.1206

Abstract:
Infrastructure investment has long been held as an accelerator or a driver of the economy. Internationally, the UK ranks poorly with the performance of infrastructure and ranks in the lower percentile for both infrastructure investment and GDP growth rate amongst comparative nations. Faced with the uncertainty of Brexit and the likely negative economic impact this will bring, infrastructure investment may be used to strengthen the UK economy. This study aims to examine how infrastructure funding impacts economic growth and how best the UK can maximize this potential by building on existing work.The research method is based on interviews carried out with respondents involved in infrastructure operating across various sectors. The findings show that investment in infrastructure is vital in the UK as it stimulates economic growth through employment creation due to factor productivity. However, it is critical for investment to be directed to regional opportunity areas with the potential to unlock economic growth and maximize returns whilst stimulating further growth to benefit other regions. There is also a need for policy consistency and to review UK infrastructure policy to streamline the process and to reduce cost and time overrun, with Brexit likely to impact negatively on infrastructure investment.
Yimiao Gu, Hui Shan Loh, Wei Yim Yap
Journal of Infrastructure, Policy and Development, Volume 4, pp 228-248; doi:10.24294/jipd.v4i2.1227

Abstract:
This paper reviews and compares the opportunities and challenges in terms of port and intermodal development in China and India—the two fast-growing economic giants in the world. The study analyzes the future direction of these two countries’ port-hinterland intermodal development from the sustainability perspective. Both China and India face some major opportunities and challenges in port-hinterland intermodal development. The proposal of the Silk Road Economic Belt and the 21st-century Maritime Silk Road, also known as the Belt and Road Initiative (BRI), offers plentiful opportunities for China. A challenge for China is that its development of dry ports is still in the infancy stage and thus it is unable to catch up with the pace of rapid economic growth. As compared with China, India focuses more on the social aspect to protect the welfare of its residents, which in turn jeopardizes India’s port-hinterland intermodal development in the economic sense. The biggest challenge for India is its social institution, which would take a long time to change. These in-depth comparative analyses not only give the future direction of port-hinterland intermodal development in China and India but also provide references for other countries with similar backgrounds.
Nihal Pitigala, Jose Lopez-Calix
Journal of Infrastructure, Policy and Development, Volume 4, pp 261-286; doi:10.24294/jipd.v4i2.1200

Abstract:
The landlocked and fragile countries’ ability to create a sustainable path to economic growth and poverty reduction is inextricably linked to their export diversification potential, itself related to their connectivity within themselves, in the region, and other external markets. Mali, Chad, and Niger are first challenged by their geography—their landlocked nature with their vast and thinly populated space serves to isolate the most vulnerable communities from external and internal markets. Adding to these geographic disadvantages non-landlocked is incentive environment—defined by high and variable customs common external tariff regimes resulting from multiple overlapping regional trade arrangements—places a wedge between domestic and international prices, provides a disincentive to exports in favor of non-tradable and domestic-oriented sectors. By bringing greater coherence and convergence between the many common external tariff regimes in operation and the rationalization of their structures, and improving connectivity within and between markets, Mali, Chad, Niger, and Guinea can better promote the reallocation of resources toward tradable goods and services, putting the countries on a path toward greater economic inclusion and sustainable growth.
Alfredo Marvão Pereira, Rui Marvão Pereira, Joao Pereira Dos Santos
Journal of Infrastructure, Policy and Development, Volume 4, pp 287-305; doi:10.24294/jipd.v4i2.1163

Abstract:
We present a difference-in-differences analysis of the road safety effects of introducing tolls on SCUT highways in Portugal, a policy motivated purely by financial considerations, as congestion was never an issue. Using negative binomial count models and a comprehensive dataset on all mainland municipalities covering 2008 to 2014, we find that introducing tolls led to an increase in the total numbers of accidents and road injuries in municipalities where SCUT highways are located. Additionally, we register a change in the composition thereof, with fewer occurrences on highways (including on SCUT highways) and an increase on national and other roads. Finally, we find that most effects pertained to light injuries. No statistically significant effects were identified for fatal or serious injuries. Furthermore, as a result of introducing tolls on SCUT highways, we estimate that around 20% of the toll revenue collected is lost on the costs linked to road accidents. This questions the rationale of introducing such tolls, even from a revenue-raising standpoint.
Naoyuki Yoshino, Dina Azhgaliyeva, Ranjeeta Mishra
Journal of Infrastructure, Policy and Development, Volume 4, pp 306-315; doi:10.24294/jipd.v4i2.1236

Abstract:
This paper proposes a floating-interest-rate infrastructure bond, where the interest of a government bond is paid to investors during the period of construction and the early period of operation. Unlike the usual government bond, which provides a fixed interest rate, the proposed floating-interest-rate infrastructure bond pays a floating interest, the rate of which depends on spillover tax revenues. Effective infrastructure projects have a positive effect on the economic growth of a region, known as the spillover effect. When user charges and the return from spillover tax revenues are below the fixed rate of the government bond, the interest rate will equal to the fixed rate of the government bond. In this case, investors in the infrastructure will receive interest on the government bond at the minimum rate. As the spillover effect of the infrastructure increases, the rate of return for infrastructure investment will become greater than the fixed rate of the government bond. The success of the floating-interest-rate infrastructure bond depends on the spillover effect and on transparency and accountability. Policy recommendations are provided in this paper on how to increase the spillover effect and improve transparency and accountability.
Jyoti Bisbey, Lili Li, Qingyang Gu, Ching-Yuan Chu
Journal of Infrastructure, Policy and Development, Volume 4, pp 179-216; doi:10.24294/jipd.v4i2.1199

Abstract:
Cross-border infrastructure projects offer significant economic and social benefits for the Asia-Pacific region. If the required investment of $8 trillion in pan-Asian connectivity was made in the region’s infrastructure during 2010–2020, the total net income gains for developing Asia could reach about $12.98 trillion (in 2008 US dollars) during 2010–2020 and beyond, of which more than $4.43 trillion would be gained during 2010–2020 and nearly $8.55 trillion after 2020. Indeed, infrastructure connectivity helps improve regional productivity and competitiveness by facilitating the movement of goods, services and human resources, producing economies of scale, promoting trade and foreign direct investments, creating new business opportunities, stimulating inclusive industrialization and narrowing development gaps between communities, countries or sub-regions. Unfortunately, due to limited financing, progress in the development of cross-border infrastructure in the region is low.This paper examines the key challenges faced in financing cross-border projects and discusses the roles that different stakeholders—national governments, state-owned enterprises, private sector, regional entities, development financing institutions (DFIs), affected people and civil society organizations—can play in facilitating the development of cross-border infrastructure in the region. In particular, this paper highlights the major risks that deter private sector investments and FDIs and provides recommendations to address these risks.
Anastasios Mouratidis
Journal of Infrastructure, Policy and Development, Volume 4, pp 249-260; doi:10.24294/jipd.v4i2.1174

Abstract:
The expansion of road networks, taken place during the last decades, was driven by technological progress and economic growth. The most innovative products of this trend—modern motorways and international road corridors—provide an excellent level of service, traffic safety and necessary information to travelers. However, despite this undeniable progress, major impediments and respective challenges to road authorities and operators still remain. The present paper analytically presents the main current challenges in the road engineering field, namely: a) financing new projects, b) alternative energy resources, especially renewable energy, c) serviceability, including maintenance of road infrastructure, traffic congestion and quality of the network, d) climate change hazards due to greenhouse gas emissions increase, e) environmental impacts, f) safety on roads, streets and motorways, and g) economy and cost-effectiveness. In each country and over each network, challenges and concerns may vary, but, in most cases, competent authorities, engaged in road development policies, have to deal with most of these issues. The optimization of the means to achieve the best results seems to be an enduring stake. In the present paper, the origin and the main features of these challenges are outlined as well as their tendency to get amplified or diminished under the actual evolving economic conditions worldwide, where growth alternates with crisis and social hardship. Moreover, responses, meant to provide solutions to the said challenges, are suggested, including research findings of Aristotle University and innovative technological achievements, to drive the transition to a more sustainable future.
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