The relationship between infrastructure capital and economic growth has been controversial. A number of empirical studies have found very high returns to infrastructure investment (Aschauer, 1989; Canning and Fay, 1993). But, the robustness of the results have been questioned in other empirical...

Economists have long relied on cross-country regression analysis to identify the determinants of continued growth, but with only limited success. This book demonstrates the value of a different approach.

Economists have long relied on cross-country regression analysis to identify the determinants of continued growth, but with only limited success. This book demonstrates the value of a different approach.

Economists have long relied on cross-country regression analysis to identify the determinants of continued growth, but with only limited success. This book demonstrates the value of a different approach.