Infrastructure for Structural Transformation: A Comebackof Planning?. (June 2021)

• Record Type: Journal Article
• Authors: Gottschalk, Ricardo; Sampath, Padmashree Gehl
• Is Part Of: Journal of infrastructure development. Volume 13:Number 1(2021)
• Page Start: 53
• Page End: 64
• Publication Date: 2021-06
• Subjects: Infrastructure -- investment -- economic growth -- structural transformation -- planning -- developing countries; Infrastructure (Economics) -- Periodicals; City planning -- Periodicals; Economic development -- Periodicals; 363.05
• DOI: 10.1177/09749306211023667
• Languages: English
• ISSNs: 0974-9306

Abstract

This article examines how infrastructure development may best support structural transformation in developing countries. It critiques ongoing emphasis by multilateral financial institutions and other actors on infrastructure as an asset class and their focus on bankable projects. The article considers this approach too narrow for real economic transformation and argues development requires a more holistic approach, one that includes project assessment based on developmental criteria. Drawing on the pioneers of development and more recent literature on infrastructure systems, the article proposes development planning as a more promising approach and assesses how developing countries are faring regarding infrastructure planning for growth and transformation. JEL Classification: H54, O21, O40, P11