- Figures (and map)
- Shifting Paradigms in Latin America's Economic Development
- Institutions and the Historical Roots of Latin American Divergence
- Political Institutions, Policymaking, and Economic Policy in Latin America
- The Washington Consensus: Assessing A “damaged Brand”
- From Old to New Developmentalism in Latin America
- Environmental Sustainability
- Taming Capital Account Shocks: Managing Booms and Busts
- Exchange Rate Regimes in Latin America
- Monetary Policy in Latin America: Performance Under Crisis and the Challenges of Exuberance
- Domestic Financial Development in Latin America
- Fiscal Policy in Latin America
- Fiscal Legitimacy, Inequalities, and Democratic Consolidation in Latin America
- Latin America in the World Trade System
- Regional Integration
- The Effects of Trade Liberalization on Growth, Employment, and Wages
- The Recent Commodity Price Boom and Latin American Growth: More than New Bottles for an Old Wine?
- Curse or Blessing? Natural Resources and Human Development
- Foreign Direct Investment in Latin America
- China and the Future of Latin American Economic Development
- Latin America in the Recent Wave of International Migration
- Structural Transformation and Economic Growth in Latin America
- Learning, Technological Capabilities, and Structural Dynamics
- Why Has Productivity Growth Stagnated in Most Latin American Countries Since the Neo-Liberal Reforms?
- Agricultural and Rural Development
- An Energy Panorama of Latin America
- Infrastructure in Latin America
- The Rise and Fall of Income Inequality in Latin America
- Multidimensional Poverty in Latin America: Concept, Measurement, and Policy
- Economic Insecurity and Development in Latin America and the Caribbean
- Employment: The Dominance of the Informal Economy
- Latin American Labor Reforms: Evaluating Risk and Security
- Social Protection in Latin America: Achievements and Limitations
- Social Security Reforms in Latin America
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.
César Calderón, Senior Economist at the Office of the Chief Economist of the Latin America and the Caribbean Region at the World Bank, Washington, DC.
Luis Servén is Senior Advisor in the World Bank, Washington, DC.
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