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Global Infrastructure Initiative

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Frame of Image onomy and society.   Sometimes used interchangeably with SOC (social overhead capital) Infrastructure = umbrella term for many activities referred as SOC both encompass activities that share technical features (economies of scale) and economic features (spill-over from users to non users). (World Bank, 1994)  Economic vs. Social Infrastructure  Economic Infrastructure: facilities essential for day-to-day economic activities. (GII’s focus)    Transport facilities (roads, rails, airports and seaports) Utility networks (for water, sewage, electricity, telecommunication, etc.) Industrial parks Schools, hospitals, libraries, prisons, and social welfare facilities  Social Infrastructure: facilities essential for the structure of society.  2 Functions of Infrastructure  Infrastructure development contributes to the productivity of firms, and quality of lives of people. ① Output / Productivity increase  Infrastructure is a factor of production used by firms free of charge or at lower price  lowered production cost Infrastructure raise total factor productivity by reducing transaction costs and other costs thus allowing more efficient use of conventional productive factors Increased accessibility both to input and output market The expanded market may result in much increased productivity    3 Functions of Infrastructure ② Promote regional economic growth    Infrastructure is an essential factor to transform an under-developed region to an industrial area Infrastruct


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Title Global Infrastructure Initiative
Similar Titles
Material Type Proceeding
Author(English)

Park, Hyeon

Publisher

University of Seoul
Date 2015-11
Event [Workshop] 3rd G20 Global Leadership Program
[Videoconference] Financing Public-Private Partnerships (PPP) Projects II (Case Study)
[Workshop] 2016 G-20 Global Leadership Program
[Workshop] G-20 Global Leadership Program
Pages 50
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Government and Law < Governance
Official Aid < Economic Infrastructure
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