Although infrastructure is widely recognized as a key ingredient in a country’s economic success, many issues surrounding infrastructurespending are not well understood. This paper explores six themes: the returns to infrastructure; the role of the private sector; the evaluation and delivery of infrastructure in practice; the nature of network industries, pricing and regulation; political economy considerations of infrastructure provision; and infrastructure in developing countries. This paper aims to provide insights into many of these questions, drawing on the existing literature.

Against the backdrop of anti-globalization rhetoric, this paper summarizes our joint book entitled Going Beyond Aid (Lin and Wang, 2017a) and discusses the prospects for development finance in the broad context of Belt and Road Initiative (BRI). Based on the New Structural Economics (Lin, 2010; 2011), here we focus on China’s demonstrated comparative advantages in infrastructure, e.g. in hydropower and high-speed railways (HSR). In addition, long-term orientation (LTO) and patient capital are latent comparative advantages that many Asian economies possess, and are critical for the Belt and Road Initiative. Only if these comparative advantages are utilized can these economies cooperate to potentially achieve win-win.

Contemporary infrastructure research has its origins in the late 1980s as attempts were made to measure the economic impact of public expenditures with early mixed results. In the 1990s, infrastructure assumed greater importance as a policy solution to improve economic performance in low-income economies particularly by multilateral development and official development agencies. This interest led to greater research interest with the examination of infrastructure and economic development, foreign direct investment, the role of institutions and capital markets, procurement, regional economic effects and more recently, the productivity of public investment in specific regions and industries. 

This article identifies subjects that warrant further research in the future particularly the shortfall in current investment levels and how this will be met. This is a challenge for both low and high-income countries with fiscal and public debt constraints requiring governments to tap alternative sources of finance. Policy options available to government include wider use of bond markets and private participation in infrastructure provision and management. Other problems facing government include optimism bias and forecasting error that is a particular problem for projects in the transport sector. 

Many other research opportunities remain to be explored and this article is designed to provide an overview of several of the subjects that would benefit from further research at the present time. 

In this study, the effect of porogenic solvents on pore size distribution of the polycaprolactone (PCL) thin films was investigated. Five thin PCL films were prepared using the solvent-casting method. Chloroform, Methylene Chloride (MC) and three different compositions of MC/ Dimethylformamide (DMF) (80/20, 50/50 and 20/80) were used as solvents. Scanning Electron Microscopy (SEM) investigations were employed to study morphology and consequently the pore size distribution of the prepared films. The PCL films made by chloroform and MC as a solvent were completely non-porous. Whereas the other films (made by a combination of MC and DMF) showed both uni-modal and bi-modal pore size distributions.

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.