Why do governments in developing economies invest in roads and not enough in schools? In the presence of distortionary taxation and debt aversion, the different pace at which roads and schools contribute to economic growth turns out to be central to this decision. Specifically, while costs are...

The toolkit contains three modules covering the major climate entry points (i.e., alignment with climate policies; incorporation of climate considerations in the project selection; and appraisal of climate effects in the project's economics and financing), followed by a fourth module that...

Engineering procurement and construction (EPC) is a normative practice globally approved since China has been engaging in international cooperation under the Belt and Road Initiative (BRI) infrastructure development. EPC has been adopted in the delivery of BRI infrastructure projects in other...

Evidence for road expansion and electrification as drivers of job creation is limited and mixed, with most studies having considered either one or the other, and only in isolation. This paper estimates the average and heterogeneous impacts of road and electricity investments and the interaction...

Each year federal, state, and local governments in the United States invest billions of dollars on roads, bridges, airports, and other infrastructure projects. Unlike private firms, government agencies have no price signals to guide their decisions, making it more difficult for them to make...