Beyond Keynesianism : Global Infrastructure Investments in Times of Crisis
As the world recovers only slowly from the 2008 financial crisis and Europe is facing a looming debt crisis, concerns have increased that the "new normal" -- a period of high unemployment, low returns on investment, high risks, and low gr...
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| Format: | Policy Research Working Paper |
| Language: | English |
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2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20120110085008 http://hdl.handle.net/10986/3225 |
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okr-10986-3225 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCOUNTING ACCOUNTING STANDARDS ACID RAIN AGGLOMERATION ECONOMIES AIRPORTS BALANCE SHEET BALANCE SHEETS BANK GUARANTEE BANK LOANS BANKING CRISES BOND BOND ISSUANCES BOND MARKETS BOTTLENECKS BRIDGE BUDGET CONSTRAINT BUDGET CONSTRAINTS BUDGETARY FRAMEWORK BUSINESS CYCLE CAPITAL FLOWS CAPITAL FORMATION CAPITAL MARKETS CAPITAL STOCK CARBON EMISSIONS CONTINGENT LIABILITIES COUNTRY RISK COUNTRY RISKS CREDIT SPREADS CREDITOR CREDITORS CREDITWORTHINESS DEBT DEBT BURDEN DEBT CRISIS DEBT LEVELS DEBT SERVICE DECENTRALIZATION DEFAULT RISK DEVELOPING COUNTRIES DEVELOPMENT BANK DISBURSEMENTS DOMESTIC CAPITAL DOMESTIC CAPITAL MARKET DOMESTIC CAPITAL MARKETS DOMESTIC CURRENCY DRIVERS ECONOMIC DEVELOPMENT ECONOMIES OF SCALE ELASTICITY EMERGING ECONOMIES EMERGING MARKET EMERGING MARKET ECONOMIES EMERGING MARKETS ENVIRONMENTAL COSTS ENVIRONMENTAL DAMAGES ENVIRONMENTAL PROTECTION ENVIRONMENTAL PROTECTION AGENCY EQUITY FUND EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORTERS EXTERNAL BORROWING FINANCE INFRASTRUCTURE FINANCES FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL STABILITY FINANCIAL STRESS FISCAL POLICY FORECLOSURES FOREIGN CURRENCY FOREIGN INVESTMENTS FOSSIL FUEL FOSSIL FUEL ENERGY FUEL GLOBAL CLIMATE CHANGE GLOBAL MARKETS GLOBAL TRADE GOVERNMENT BONDS GOVERNMENT BUDGETS GOVERNMENT DEBT GOVERNMENT GUARANTEES GOVERNMENT SPENDING HIGH TRANSPORT HIGHWAY HIGHWAY ACT HIGHWAY ADMINISTRATION HIGHWAYS HOST COUNTRIES HOUSEHOLD INCOMES HUMAN CAPITAL INCOME LEVELS INFLATION INFLATION RATES INFLATIONARY EXPECTATIONS INFRASTRUCTURE BONDS INFRASTRUCTURE COSTS INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE FINANCE INFRASTRUCTURE FINANCING INFRASTRUCTURE FUNDING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INFRASTRUCTURE PROJECTS INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL BOND INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL INVESTORS INTERNATIONAL ROAD FEDERATION INTERSTATE HIGHWAY SYSTEM INVESTING INVESTMENT HORIZON INVESTMENT IN ROADS INVESTMENT OPPORTUNITIES INVESTMENT RISKS INVESTMENT SPENDING INVESTMENT STRATEGY INVESTOR BASE ISSUANCES LAND TRANSPORT LEGAL FRAMEWORK LIABILITY LIQUID ASSETS LIQUIDITY LOAN LOAN GUARANTEES LOCAL BANKS LOCAL ECONOMY LOCAL GOVERNMENTS LONG-TERM INVESTMENTS LONG-TERM INVESTORS MACROECONOMIC POLICIES MACROECONOMIC POLICY MACROECONOMIC STABILITY MARKET SHARE MASS TRANSIT MONETARY POLICY MULTILATERAL LENDERS NATIONAL INFRASTRUCTURE NATURAL DISASTERS PENSION PENSION FUNDS POLICY RESPONSE POLITICAL RISK POPULATION DENSITY PORT FACILITIES PORTFOLIO PORTFOLIOS PRIVATE CAPITAL PRIVATE EQUITY PRIVATE FINANCE PRIVATE FINANCING PRIVATE INVESTMENT PRIVATE INVESTMENTS PRIVATE INVESTOR PRIVATE INVESTORS PRIVATE PARTIES PUBLIC BANKS PUBLIC DEBT PUBLIC FUNDS PUBLIC INVESTMENT PUBLIC PARTNERSHIPS PUBLIC SAVING PUBLIC TRANSPORTATION PUBLIC WORKS RAILWAYS RATES OF RETURN REGULATORY FRAMEWORK REGULATORY FRAMEWORKS REINVESTMENT REPAYMENT REPAYMENTS RETURN RETURNS RETURNS ON EQUITY RISK AVERSION RISK OF DEFAULT ROAD ROAD IMPROVEMENTS ROAD MAINTENANCE ROAD SYSTEM ROADS RURAL ROADS RURAL TRANSPORT SANITATION SECONDARY MARKET SECONDARY MARKET ACTIVITY SHORT MATURITIES SHORT-TERM INSTRUMENTS SOCIAL CAPITAL SOVEREIGN DEBT SOVEREIGN DEFAULT STOCK MARKETS STOCKS TAX TAX COLLECTION TELECOMMUNICATIONS TRADE BALANCE TRADING TRANSACTION TRANSACTION COSTS TRANSIT SYSTEMS TRANSPORT COSTS TRANSPORTATION TRANSPORTATION EQUIPMENT TRIP TRUCKS TRUE VEHICLE WATER POLLUTION WEALTH YIELD CURVE |
| spellingShingle |
ACCOUNTING ACCOUNTING STANDARDS ACID RAIN AGGLOMERATION ECONOMIES AIRPORTS BALANCE SHEET BALANCE SHEETS BANK GUARANTEE BANK LOANS BANKING CRISES BOND BOND ISSUANCES BOND MARKETS BOTTLENECKS BRIDGE BUDGET CONSTRAINT BUDGET CONSTRAINTS BUDGETARY FRAMEWORK BUSINESS CYCLE CAPITAL FLOWS CAPITAL FORMATION CAPITAL MARKETS CAPITAL STOCK CARBON EMISSIONS CONTINGENT LIABILITIES COUNTRY RISK COUNTRY RISKS CREDIT SPREADS CREDITOR CREDITORS CREDITWORTHINESS DEBT DEBT BURDEN DEBT CRISIS DEBT LEVELS DEBT SERVICE DECENTRALIZATION DEFAULT RISK DEVELOPING COUNTRIES DEVELOPMENT BANK DISBURSEMENTS DOMESTIC CAPITAL DOMESTIC CAPITAL MARKET DOMESTIC CAPITAL MARKETS DOMESTIC CURRENCY DRIVERS ECONOMIC DEVELOPMENT ECONOMIES OF SCALE ELASTICITY EMERGING ECONOMIES EMERGING MARKET EMERGING MARKET ECONOMIES EMERGING MARKETS ENVIRONMENTAL COSTS ENVIRONMENTAL DAMAGES ENVIRONMENTAL PROTECTION ENVIRONMENTAL PROTECTION AGENCY EQUITY FUND EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORTERS EXTERNAL BORROWING FINANCE INFRASTRUCTURE FINANCES FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL STABILITY FINANCIAL STRESS FISCAL POLICY FORECLOSURES FOREIGN CURRENCY FOREIGN INVESTMENTS FOSSIL FUEL FOSSIL FUEL ENERGY FUEL GLOBAL CLIMATE CHANGE GLOBAL MARKETS GLOBAL TRADE GOVERNMENT BONDS GOVERNMENT BUDGETS GOVERNMENT DEBT GOVERNMENT GUARANTEES GOVERNMENT SPENDING HIGH TRANSPORT HIGHWAY HIGHWAY ACT HIGHWAY ADMINISTRATION HIGHWAYS HOST COUNTRIES HOUSEHOLD INCOMES HUMAN CAPITAL INCOME LEVELS INFLATION INFLATION RATES INFLATIONARY EXPECTATIONS INFRASTRUCTURE BONDS INFRASTRUCTURE COSTS INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE FINANCE INFRASTRUCTURE FINANCING INFRASTRUCTURE FUNDING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INFRASTRUCTURE PROJECTS INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL BOND INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL INVESTORS INTERNATIONAL ROAD FEDERATION INTERSTATE HIGHWAY SYSTEM INVESTING INVESTMENT HORIZON INVESTMENT IN ROADS INVESTMENT OPPORTUNITIES INVESTMENT RISKS INVESTMENT SPENDING INVESTMENT STRATEGY INVESTOR BASE ISSUANCES LAND TRANSPORT LEGAL FRAMEWORK LIABILITY LIQUID ASSETS LIQUIDITY LOAN LOAN GUARANTEES LOCAL BANKS LOCAL ECONOMY LOCAL GOVERNMENTS LONG-TERM INVESTMENTS LONG-TERM INVESTORS MACROECONOMIC POLICIES MACROECONOMIC POLICY MACROECONOMIC STABILITY MARKET SHARE MASS TRANSIT MONETARY POLICY MULTILATERAL LENDERS NATIONAL INFRASTRUCTURE NATURAL DISASTERS PENSION PENSION FUNDS POLICY RESPONSE POLITICAL RISK POPULATION DENSITY PORT FACILITIES PORTFOLIO PORTFOLIOS PRIVATE CAPITAL PRIVATE EQUITY PRIVATE FINANCE PRIVATE FINANCING PRIVATE INVESTMENT PRIVATE INVESTMENTS PRIVATE INVESTOR PRIVATE INVESTORS PRIVATE PARTIES PUBLIC BANKS PUBLIC DEBT PUBLIC FUNDS PUBLIC INVESTMENT PUBLIC PARTNERSHIPS PUBLIC SAVING PUBLIC TRANSPORTATION PUBLIC WORKS RAILWAYS RATES OF RETURN REGULATORY FRAMEWORK REGULATORY FRAMEWORKS REINVESTMENT REPAYMENT REPAYMENTS RETURN RETURNS RETURNS ON EQUITY RISK AVERSION RISK OF DEFAULT ROAD ROAD IMPROVEMENTS ROAD MAINTENANCE ROAD SYSTEM ROADS RURAL ROADS RURAL TRANSPORT SANITATION SECONDARY MARKET SECONDARY MARKET ACTIVITY SHORT MATURITIES SHORT-TERM INSTRUMENTS SOCIAL CAPITAL SOVEREIGN DEBT SOVEREIGN DEFAULT STOCK MARKETS STOCKS TAX TAX COLLECTION TELECOMMUNICATIONS TRADE BALANCE TRADING TRANSACTION TRANSACTION COSTS TRANSIT SYSTEMS TRANSPORT COSTS TRANSPORTATION TRANSPORTATION EQUIPMENT TRIP TRUCKS TRUE VEHICLE WATER POLLUTION WEALTH YIELD CURVE Lin, Justin Yifu Doemeland, Doerte Beyond Keynesianism : Global Infrastructure Investments in Times of Crisis |
| geographic_facet |
The World Region The World Region |
| relation |
Policy Research working paper ; no. WPS 5940 |
| description |
As the world recovers only slowly from
the 2008 financial crisis and Europe is facing a looming
debt crisis, concerns have increased that the "new
normal" -- a period of high unemployment, low returns
on investment, high risks, and low growth -- may become
protracted in advanced economies. If growth remains weak,
unemployment rates and debt levels will be slow to recede.
Consequently, the global recovery may continue to be fragile
for years to come. What the world needs now is a
growth-lifting strategy. This strategy could take the form
of a global infrastructure initiative. Since debt levels are
high, governments in the United States and Europe could
increase demand and support growth through investments in
bottleneck-releasing infrastructure projects that are
self-financing. An infrastructure initiative should,
however, go beyond the borders of advanced countries and
include developing countries. Economic and social returns to
infrastructure investments tend to be high in developing
countries, which have become increasingly important drivers
of global growth. At the same time, infrastructure
investments require capital goods, most of which are
produced in high-income countries. Scaling up infrastructure
investment in developing countries could therefore help
generate a virtuous cycle in support of a global recovery. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Lin, Justin Yifu Doemeland, Doerte |
| author_facet |
Lin, Justin Yifu Doemeland, Doerte |
| author_sort |
Lin, Justin Yifu |
| title |
Beyond Keynesianism : Global Infrastructure Investments in Times of Crisis |
| title_short |
Beyond Keynesianism : Global Infrastructure Investments in Times of Crisis |
| title_full |
Beyond Keynesianism : Global Infrastructure Investments in Times of Crisis |
| title_fullStr |
Beyond Keynesianism : Global Infrastructure Investments in Times of Crisis |
| title_full_unstemmed |
Beyond Keynesianism : Global Infrastructure Investments in Times of Crisis |
| title_sort |
beyond keynesianism : global infrastructure investments in times of crisis |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20120110085008 http://hdl.handle.net/10986/3225 |
| _version_ |
1764386635774951424 |
| spelling |
okr-10986-32252021-04-23T14:02:08Z Beyond Keynesianism : Global Infrastructure Investments in Times of Crisis Lin, Justin Yifu Doemeland, Doerte ACCOUNTING ACCOUNTING STANDARDS ACID RAIN AGGLOMERATION ECONOMIES AIRPORTS BALANCE SHEET BALANCE SHEETS BANK GUARANTEE BANK LOANS BANKING CRISES BOND BOND ISSUANCES BOND MARKETS BOTTLENECKS BRIDGE BUDGET CONSTRAINT BUDGET CONSTRAINTS BUDGETARY FRAMEWORK BUSINESS CYCLE CAPITAL FLOWS CAPITAL FORMATION CAPITAL MARKETS CAPITAL STOCK CARBON EMISSIONS CONTINGENT LIABILITIES COUNTRY RISK COUNTRY RISKS CREDIT SPREADS CREDITOR CREDITORS CREDITWORTHINESS DEBT DEBT BURDEN DEBT CRISIS DEBT LEVELS DEBT SERVICE DECENTRALIZATION DEFAULT RISK DEVELOPING COUNTRIES DEVELOPMENT BANK DISBURSEMENTS DOMESTIC CAPITAL DOMESTIC CAPITAL MARKET DOMESTIC CAPITAL MARKETS DOMESTIC CURRENCY DRIVERS ECONOMIC DEVELOPMENT ECONOMIES OF SCALE ELASTICITY EMERGING ECONOMIES EMERGING MARKET EMERGING MARKET ECONOMIES EMERGING MARKETS ENVIRONMENTAL COSTS ENVIRONMENTAL DAMAGES ENVIRONMENTAL PROTECTION ENVIRONMENTAL PROTECTION AGENCY EQUITY FUND EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORTERS EXTERNAL BORROWING FINANCE INFRASTRUCTURE FINANCES FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL STABILITY FINANCIAL STRESS FISCAL POLICY FORECLOSURES FOREIGN CURRENCY FOREIGN INVESTMENTS FOSSIL FUEL FOSSIL FUEL ENERGY FUEL GLOBAL CLIMATE CHANGE GLOBAL MARKETS GLOBAL TRADE GOVERNMENT BONDS GOVERNMENT BUDGETS GOVERNMENT DEBT GOVERNMENT GUARANTEES GOVERNMENT SPENDING HIGH TRANSPORT HIGHWAY HIGHWAY ACT HIGHWAY ADMINISTRATION HIGHWAYS HOST COUNTRIES HOUSEHOLD INCOMES HUMAN CAPITAL INCOME LEVELS INFLATION INFLATION RATES INFLATIONARY EXPECTATIONS INFRASTRUCTURE BONDS INFRASTRUCTURE COSTS INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE FINANCE INFRASTRUCTURE FINANCING INFRASTRUCTURE FUNDING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INFRASTRUCTURE PROJECTS INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL BOND INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL INVESTORS INTERNATIONAL ROAD FEDERATION INTERSTATE HIGHWAY SYSTEM INVESTING INVESTMENT HORIZON INVESTMENT IN ROADS INVESTMENT OPPORTUNITIES INVESTMENT RISKS INVESTMENT SPENDING INVESTMENT STRATEGY INVESTOR BASE ISSUANCES LAND TRANSPORT LEGAL FRAMEWORK LIABILITY LIQUID ASSETS LIQUIDITY LOAN LOAN GUARANTEES LOCAL BANKS LOCAL ECONOMY LOCAL GOVERNMENTS LONG-TERM INVESTMENTS LONG-TERM INVESTORS MACROECONOMIC POLICIES MACROECONOMIC POLICY MACROECONOMIC STABILITY MARKET SHARE MASS TRANSIT MONETARY POLICY MULTILATERAL LENDERS NATIONAL INFRASTRUCTURE NATURAL DISASTERS PENSION PENSION FUNDS POLICY RESPONSE POLITICAL RISK POPULATION DENSITY PORT FACILITIES PORTFOLIO PORTFOLIOS PRIVATE CAPITAL PRIVATE EQUITY PRIVATE FINANCE PRIVATE FINANCING PRIVATE INVESTMENT PRIVATE INVESTMENTS PRIVATE INVESTOR PRIVATE INVESTORS PRIVATE PARTIES PUBLIC BANKS PUBLIC DEBT PUBLIC FUNDS PUBLIC INVESTMENT PUBLIC PARTNERSHIPS PUBLIC SAVING PUBLIC TRANSPORTATION PUBLIC WORKS RAILWAYS RATES OF RETURN REGULATORY FRAMEWORK REGULATORY FRAMEWORKS REINVESTMENT REPAYMENT REPAYMENTS RETURN RETURNS RETURNS ON EQUITY RISK AVERSION RISK OF DEFAULT ROAD ROAD IMPROVEMENTS ROAD MAINTENANCE ROAD SYSTEM ROADS RURAL ROADS RURAL TRANSPORT SANITATION SECONDARY MARKET SECONDARY MARKET ACTIVITY SHORT MATURITIES SHORT-TERM INSTRUMENTS SOCIAL CAPITAL SOVEREIGN DEBT SOVEREIGN DEFAULT STOCK MARKETS STOCKS TAX TAX COLLECTION TELECOMMUNICATIONS TRADE BALANCE TRADING TRANSACTION TRANSACTION COSTS TRANSIT SYSTEMS TRANSPORT COSTS TRANSPORTATION TRANSPORTATION EQUIPMENT TRIP TRUCKS TRUE VEHICLE WATER POLLUTION WEALTH YIELD CURVE As the world recovers only slowly from the 2008 financial crisis and Europe is facing a looming debt crisis, concerns have increased that the "new normal" -- a period of high unemployment, low returns on investment, high risks, and low growth -- may become protracted in advanced economies. If growth remains weak, unemployment rates and debt levels will be slow to recede. Consequently, the global recovery may continue to be fragile for years to come. What the world needs now is a growth-lifting strategy. This strategy could take the form of a global infrastructure initiative. Since debt levels are high, governments in the United States and Europe could increase demand and support growth through investments in bottleneck-releasing infrastructure projects that are self-financing. An infrastructure initiative should, however, go beyond the borders of advanced countries and include developing countries. Economic and social returns to infrastructure investments tend to be high in developing countries, which have become increasingly important drivers of global growth. At the same time, infrastructure investments require capital goods, most of which are produced in high-income countries. Scaling up infrastructure investment in developing countries could therefore help generate a virtuous cycle in support of a global recovery. 2012-03-19T17:28:35Z 2012-03-19T17:28:35Z 2012-01-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20120110085008 http://hdl.handle.net/10986/3225 English Policy Research working paper ; no. WPS 5940 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Publications & Research :: Policy Research Working Paper The World Region The World Region |