The paper studies the impact of government budget constraint in a pure adverse selection problem of monopoly regulation …. The government maximizes total surplus but incurs some cost of public funds. An alternative to regulation is proposed in …-post with the private firms. This ex-post contracting set-up allows more flexibility than traditional regulation where …

faced and their business environment. The business environment includes physical infrastructure, the availability of an …

Despite remarkable growth during the last decade, Asia and the Pacific still faces extensive basic infrastructure needs … region needs to enhance its connectivity through developing transport infrastructure at the national and regional level to … infrastructure will have profound implications on environment and climate change at the national, regional and global levels as well …

Investment in network infrastructure can boost long-term economic growth in OECD countries. Moreover, infrastructure … between infrastructure and economic growth. Time-series results reveal a positive impact of infrastructure investment on … infrastructure investment in telecommunications and the electricity sectors has a robust positive effect on long-term growth (but not …

This paper analyzes the impact of fiscal competition through infrastructure in a New Economic Geography framework. It … efficiency arises since the efficient distribution of regional infrastructure requires full agglomeration for sufficiently low …

transaction costs along with trade infrastructure facilities have significant influence on regional trade flows in Northeast Asia … ascertain that today’s trade issues in Northeast Asia go beyond the traditional mechanisms of tariffs, and include “behind …. On average, 10 percent saving in transaction costs increases imports by about 5 percent in Northeast Asia. This paper …

This paper traces the 11,000 year evolution of infrastructure systems during major periods of innovation, expansion and … positive feedback between early capital market development and investment in infrastructure innovations that lowered system …-wide transaction costs has been a critical factor in sustaining growth since 1800. The paper sets out a model of infrastructure …