A01=Pierre-Richard Agenor
Arbitrage
Asset
Author_Pierre-Richard Agenor
Budget
Budget constraint
Capital accumulation
Capital adequacy ratio
Category=KCM
Consumption (economics)
Debt
Depreciation
Developed country
Developing country
Discounts and allowances
Economic equilibrium
Economic growth
Economy
Efficiency
Endogenous growth theory
eq_bestseller
eq_business-finance-law
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
Expenditure
Externality
Funding
Government debt
Government spending
Household
Human capital
Income
Income distribution
Infrastructure
Interest rate
Intertemporal budget constraint
Investment
Life expectancy
Long run and short run
Marginal propensity to save
Network effect
Opportunity cost
Physical capital
Political economy
Poverty
Poverty trap
Private sector
Production function
Productivity
Profit maximization
Provision (accounting)
Public capital
Public expenditure
Public infrastructure
Public sector
Public-private partnership
Rate of return
Relative price
Sanitation
Saving
Scale In
Stock
Subsidy
Substitution effect
Supply (economics)
Tax
Tax rate
Tax revenue
Technology
Telecommunication
Time allocation
Trade-off
Utility
Wage
Welfare
Workforce productivity
World Bank
Product details
- ISBN 9780691155807
- Weight: 454g
- Dimensions: 152 x 235mm
- Publication Date: 23 Dec 2012
- Publisher: Princeton University Press
- Publication City/Country: US
- Product Form: Hardback
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In the past three decades, developing countries have made significant economic and social progress, from improved infant mortality rates to higher life expectancy. Yet, 1.3 billion people continue to live in extreme poverty in the developing world, leading policymakers to place a renewed emphasis on policies that could promote economic efficiency and the productivity of the poor. How should these policies be sequenced and implemented to spur growth? Would a large, front-loaded increase in public infrastructure investment yield the desired growth-promoting effect? Taking a rigorous look at this kind of investment and its outcomes, this book explores the different channels through which public capital in infrastructure may affect growth and human welfare, and develops a series of formal models for understanding how these channels operate. Bringing together a vast amount of research in one unifying framework, Pierre-Richard Agenor finds that in considering investment in infrastructure, a variety of externalities need to be factored into analytical models and introduced in policy debates.
Lack of access to infrastructure not only constrains the expansion of markets and private investment, it may also hinder the achievement of health and education targets. Ease of access, conversely, promotes innovation and empowers women by allowing them to reallocate their time to productive uses. Laying a solid foundation of economic facts and ideas, Public Capital, Growth, and Welfare provides a comprehensive look at the critical role of public capital in development.
Pierre-Richard Agenor is the Hallsworth Professor of International Macroeconomics and Development Economics at the University of Manchester and codirector of the Centre for Growth and Business Cycle Research. He is the coauthor of Development Macroeconomics (Princeton) and author of The Economics of Adjustment and Growth, among other books.
