We contrast the effects of a transfer tied to investment in public infrastructure from a traditional pure transfer. The … accumulated in the recipient economy. Its long-run growth and welfare effects depend upon the initial stock of infrastructure, as …

This paper addresses the question if physical infrastructure and personnel infrastructure (i.e. human capital) are … impact of infrastructure endowment on economic out-put. First, infrastructure is a production input and raises productivity … of firms or reduces their marginal costs. Second, an advanced and efficient infrastructure endowment is a competitive …

public infrastructure in the context of a growing economy. Our results indicate that uncertainty about the arrival of public …