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date: 19 August 2018

Abstract and Keywords

This chapter revisits the theme of infrastructure development in Latin America from a macroeconomic standpoint, first documenting the trends in Latin America's infrastructure development. Overall, there is evidence that an ‘infrastructure gap’ goes together with industrial and developing regions which opened up in the 1980s and 1990s. Second, drawing from recent research, the chapter provides an empirical assessment of the contribution of infrastructure development to growth across Latin America, as well a quantitative illustration of the growth cost of the region's infrastructure gap. Third, it examines the changing roles of the public and private sectors in Latin America's infrastructure, presenting updated information on the trends in the financing of infrastructure investment and analysing how they have been shaped by macroeconomic policy constraints. Fourth, the chapter summarizes the lights and shadows from two decades of private-sector participation in Latin America's infrastructure development.

Keywords: Latin America, infrastructure development, infrastructure gap, infrastructure investment, macroeconomic policy constraints, private-sector participation

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