Using a newly developed data set, we analyze the effects of infrastructure investment on economic performance in Portugal. A vector-autoregressive approach estimates the elasticity and marginal products of twelve types of infrastructure investment on private investment, employment, and output. We find that the largest long-term accumulated effects come from investments in railroads, ports, airports, health, education, and telecommunications. For these infrastructures, the output multipliers suggest that these investments pay for themselves through additional tax revenues. For investments in ports, airports and education infrastructures, the bulk of the effects are short-term demand-side effects, while for railroads, health, and telecommunications, the impact is mostly of a long-term and supply-side nature. Finally, investments in health and airports exhibit decreasing marginal returns, with railroads, ports, and telecommunications being relatively stable. In terms of the other infrastructure assets, the economic effects of investments in municipal roads, electricity and gas, and refineries are insignificant, while investments in national roads, highways, and waste and waste water have positive economic effects but too small to improve the public budget. Clearly, from a policy perspective, not all infrastructure investments in Portugal are created equal.

This paper proposes a floating-interest-rate infrastructure bond, where the interest of a government bond is paid to investors during the period of construction and the early period of operation. Unlike the usual government bond, which provides a fixed interest rate, the proposed floating-interest-rate infrastructure bond pays a floating interest, the rate of which depends on spillover tax revenues. Effective infrastructure projects have a positive effect on the economic growth of a region, known as the spillover effect. When user charges and the return from spillover tax revenues are below the fixed rate of the government bond, the interest rate will equal to the fixed rate of the government bond. In this case, investors in the infrastructure will receive interest on the government bond at the minimum rate. As the spillover effect of the infrastructure increases, the rate of return for infrastructure investment will become greater than the fixed rate of the government bond. The success of the floating-interest-rate infrastructure bond depends on the spillover effect and on transparency and accountability. Policy recommendations are provided in this paper on how to increase the spillover effect and improve transparency and accountability. 

The success of a city’s entrepreneurial ecosystem (EE) depends on a combination of interconnected factors that foster innovation, collaboration and growth. Urban planning, infrastructure management and an entrepreneurial culture are essential factors for the success of cities’ Entrepreneurial Ecosystems (EEs). Land use and infrastructure management create opportunities for growth and industry expansion. EEs are local, social, business, institutional and cultural stakeholders that encourage and enhance the formation and growth of new businesses, which are supported by enabling infrastructure. The objective of this study was to investigate how urban planning affects EEs in the metropolitan region, Nelson Mandela Bay (NMB), South Africa. NMB is known for poor land use management, which hinders the management of diverse spatial needs, as well as bureaucratic processes for land rezoning for commercial activity. In order to better understand the fundamental issues, a qualitative case study was conducted. The data were collected from fifteen economic development role players from NMB using semi-structured interviews combined with secondary data from the NMB Integrated Development Plan (IDP). The data analysis included thematic analysis using Atlas.ti and Claude 2.0. In order to validate the findings, qualitative data were cross-referenced with secondary sources from the NMB IDP. The key themes that emerged effect the NMB metropole’s management of infrastructure to support the EE. These include, Land use issues, Poor oversight by metropolitan leadership, Lack of infrastructure maintenance and pushing out potential investment and economic growth. The results highlight that the NMB metropole fails to prioritise land use and infrastructure challenges, impacting the NMB metropolitan area’s economic development and worsening inequality among different groups. The findings from this study add to the current research on cities’ EEs and The Right to the City Theory, which supports the UN Sustainable Development Goals 8, 9 and 11.

This paper aims to analyze the impact of access to Information and Communication Technologies (ICT) on the private returns to higher education (HE) focusing on gender inequality in 2020. Methodology: To evaluate the above impact a set of Mincerian equations will be estimated. The proposed approach mitigates biases associated with self-selection and individual heterogeneity. Data: The database comes from the National Household Income and Expenditure Survey (Encuesta Nacional de Ingresos y Gastos de los Hogares, ENIGH) from 2020. Results: Empirical evidence suggests that individuals that have HE have a positive and greater impact on their salary income compared to those with a lower educational level, being women that do not have access to ICT those with the lowest wage return. Policy: Access to ICT should be considered as one of the criteria that integrate social deprivation in the measurement of multidimensional poverty. Likewise, it is necessary to design public policies that promote the strengthening and creation of educational and/or training systems in technological matters for women. Limitations: No distinction was made between individuals that graduated from public or private schools, nor was income from sources other than work considered. Originality: This investigation evaluates the impact of access to ICT on the returns to higher education in Mexico, in 2020, addressing gender disparity.