Does Infrastructure Investment Lead to Economic Growth?

Prabheesh, K P and Taghizadeh-Hesary, Farhad and Padhan, Rakesh (2022) Does Infrastructure Investment Lead to Economic Growth? In: Unlocking Private Investment in Sustainable Infrastructure in Asia. Taylor and Francis Ltd., pp. 1-20. ISBN 978-100078506-7

Text
Unlocking_Private_Investment.pdf - Published Version
Available under License Creative Commons Attribution.
Download (1MB)

Abstract

This chapter examines the relationship between infrastructure investment and economic growth in Central Asian countries. Using quarterly data from 1990 to 2018 and employing the Autoregressive Distributed Lagged Approach to cointegration, the study finds: 1) there is a robust long-run relationship that runs from infrastructure investment to economic growth in the case of Kazakhstan, Tajikistan, and Uzbekistan; 2) in the case of the Kyrgyz Republic, economic growth drives infrastructure investment; 3) there is a bi-directional relationship between infrastructure investment and economic growth in Uzbekistan; and 4) in the short run, infrastructure investment leads to a reduction in economic growth in Tajikistan.

[error in script]

IITH Creators: