The return of public investment
It's time to reconsider economic wisdom that prioritizes private markets at the expense of the public sector
The idea that public investment in infrastructure—roads, dams, power plants, and so forth—is an indispensable driver of economic growth has always held powerful sway over the minds of policymakers in poor countries. It also lay behind early development assistance programmes following World War II, when the World Bank and bilateral donors funnelled resources to newly independent countries to finance large-scale projects. And it motivates the new China-led Asian Infrastructure Investment Bank (AIIB), which aims to fill the region’s supposed $8 trillion infrastructure gap.
Login to enjoy exclusive benefits!
- Unlocked premium articles
- Personalized news
- Market Watchlist
- Insightful Newsletters & more