Perspectives of Infrastructure Development in Fragile Economies: Minding the Gap between Infrastructure and Development

Abstract

Many emerging markets and most low-income countries require a major step increase in infrastructure investment to alleviate growth constraints, respond to urbanization pressures and meet their crucial goals for inclusive growth, development, and sustainability. There is a well-documented infrastructure deficit in many developing and developed countries, which is hampering growth prospects. Strategic infrastructure, from roads and ports to energy, needs to be built to fuel growth. An estimated 1.4 billion people still have no access to electricity, 0.9 billion are without access to safe drinking water and 2.6 billion without access to basic sanitation. These deficits continue to pose substantial challenges in low-income countries, but there are also pervasive deficits in many middle-income countries. Developing countries need a step-increase in infrastructure build to accelerate economic growth and development. There is extensive evidence that infrastructure development can increase economic growth and reduce levels of inequality. As countries move away from primary economic industries to secondary and tertiary, infrastructure becomes more important.

Keywords: Perspectives on infrastructure, Fragile, economies, development, minding, gap, building the economy