SciELO - Scientific Electronic Library Online

 
vol.23 issue53Analysis of colombian rural socio-economic dynamics regarding education, 2006-2016Socio-environmental impacts of african oil palm cultivation: mexican and brazilian author indexsubject indexarticles search
Home Pagealphabetic serial listing  

Services on Demand

Journal

Article

Indicators

Related links

  • Have no similar articlesSimilars in SciELO

Share


Economía y Sociedad

On-line version ISSN 2215-3403Print version ISSN 1409-1070

Abstract

ESQUIVEL -MONGE, Manfred  and  LOAIZA -MARIN, Kerry. Infrastructure investment and economic growth, relevance of institutional factors. Economía y Sociedad [online]. 2018, vol.23, n.53, pp.40-61. ISSN 2215-3403.  http://dx.doi.org/10.15359/eys.23-53.3.

We quantify the effect of infrastructure investment on economic growth and test whether that effect is conditioned by institutional factors. This is done by estimating dynamic panel data models with instrumental variables using GMM estimation. Results are in line with those reported by previous studies in terms of the magnitude of the effect of infrastructure on economic growth. Evidence suggests that bad institutions lessen the potential expansive effect of infrastructure investment. Latin American countries would be restraining the expansive potential of their infrastructure investment by showing unfavorable institutional performance. The same would be happening with mid and low-income countries.

Keywords : infrastructure; growth; institutions; economic freedom; corruption.

        · abstract in Spanish | Portuguese     · text in Spanish     · Spanish ( pdf )