The recent experience of infrastructure investment in the People's Republic of China (PRC) suggests an intertwined … relationship between investment, urbanization, and economic growth. In one mechanism, urbanization generates demand for … productivity. Another mechanism emphasized in this paper is that infrastructure investment can promote urbanization through …

moving cost, urbanization proceeds, leading to lower fertility, more investments in human and physical capital per child …

it would imply too high costs for fast growing economies like China. To quantify these costs we develop a general … increased urbanization raises the costs of carbon policies due to altered consumption patterns. …