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来源类型Working Paper
规范类型报告
DOI10.3386/w28215
来源IDWorking Paper 28215
Economic Analysis and Infrastructure Investment
Edward L. Glaeser; James M. Poterba
发表日期2020-12-14
出版年2020
语种英语
摘要This paper summarizes economic research on investment in public infrastructure and introduces the findings of several new studies on this topic. It begins with a review of several potential justifications for the public sector’s involvement in building, financing, and operating infrastructure, including limitations of private capital markets, externalities, and the control of natural monopolies. It then describes the conditions that characterize an optimal infrastructure investment program, emphasizing the need to extend project-based microeconomic cost-benefit analysis to incorporate the value of economy-wide macroeconomic and other externalities. It notes the importance of efficient use of infrastructure capital, and discusses three areas -- procurement, project management, and expenditure on externality mitigation – where further research could identify paths to efficiency improvement. It concludes by identifying several trends that have emerged since outbreak of the COVID-19 pandemic that may have long-term effects on the role of both physical and digital infrastructure in the U.S. economy.
主题Public Economics ; Public Goods ; Subnational Fiscal Issues ; Regional and Urban Economics ; COVID-19
URLhttps://www.nber.org/papers/w28215
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/585889
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Edward L. Glaeser,James M. Poterba. Economic Analysis and Infrastructure Investment. 2020.
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