The Impact of Infrastructure Spending in Sub-Saharan Africa : A CGE Modeling Approach
The authors constructed a standard
computable general equilibrium (CGE) model to explore the
economic impact of increased spending on infrastructure in
six African countries: Benin, Cameroon, Mali, Senegal,
Tanzania, and Uganda. The basic elements of the model are
drawn from EXTER, adjusted to accommodate infrastructure
externalities. Seven sectors were considered: food crop
agriculture, export agriculture, mining and oil,
manufacturing, construction, private services, and public
services. Four sets of simulations were conducted: baseline
nonproductive investments, roads, electricity, and telecoms.
For each set of simulations, five funding schemes were
considered: reduced public expenditure; increased
value-added taxes; increased import duties; funding from
foreign aid; and increased income taxes. In general, the
funding schemes had similar qualitative and quantitative
effects on macro variables. For road and electricity
investment, there were relatively large quantitative
differences and some qualitative differences among funding
schemes at the macro level. Sectoral analysis revealed
further disparities among countries and investment types.
The same type of investment with the same funding sources
had varying effects depending on the economic structure of
the sector in question. The authors find that few sectors
are purely tradable or non-tradable, having instead variable
degrees of openness to trade. If the current account needs
to be balanced, funding investment through foreign aid
produces the strongest sectoral effects because strong price
and nominal exchange rate adjustments are needed to clear
the current account balance. In addition, the capital/labor
ratio of each sector plays an important role in determining
its winners and losers.
Enregistré dans:
Détails bibliographiques
Auteurs principaux: |
Perrault, Jean-François,
Savard, Luc,
Estache, Antonio |
Format: | Policy Research Working Paper
biblioteca
|
Langue: | English |
Publié: |
2010-07-01
|
Sujets: | ACCOUNTING,
ADVERSE EFFECT,
AFFILIATED ORGANIZATIONS,
AGRICULTURE,
BANK POLICY,
BASELINE SCENARIO,
BUDGET CONSTRAINT,
BUDGET CONSTRAINTS,
BUDGETARY ASSISTANCE,
BUDGETARY IMPACTS,
CAPITAL ACCOUNT,
CAPITAL MARKET,
COMMODITY,
COMPARATIVE ADVANTAGE,
COMPARATIVE ANALYSES,
COMPARATIVE ANALYSIS,
COMPETITIVENESS,
COMPUTABLE GENERAL EQUILIBRIUM,
CONSUMERS,
CURRENCY,
CURRENCY APPRECIATION,
CURRENT ACCOUNT BALANCE,
DEFICITS,
DISTRIBUTIONAL IMPACT,
DIVIDENDS,
ECONOMIC GROWTH,
ECONOMIC SECTORS,
ECONOMIC STRUCTURE,
ECONOMIC STRUCTURES,
ELASTICITIES,
ELASTICITY,
ELASTICITY OF SUBSTITUTION,
EQUATIONS,
EQUILIBRIUM,
EXCHANGE RATE,
EXCHANGE RATE ADJUSTMENTS,
EXPENDITURE,
EXPENDITURES,
EXPORT PERFORMANCE,
EXPORT SECTOR,
EXPORTS,
EXTERNALITIES,
EXTERNALITY,
FACTOR MARKETS,
FISCAL POLICIES,
FISCAL POLICY,
FISCAL SUSTAINABILITY,
FIXED SHARE,
FIXED SHARES,
FUND INVESTMENT,
GDP,
GDP DEFLATOR,
GOVERNMENT BUDGET,
GOVERNMENT BUDGET CONSTRAINT,
GOVERNMENT CONSUMPTION,
GOVERNMENT EXPENDITURE,
GOVERNMENT INVESTMENTS,
GOVERNMENT REVENUE,
GOVERNMENT REVENUES,
GOVERNMENT SAVINGS,
GOVERNMENT SPENDING,
GOVERNMENT SUBSIDIES,
HOUSEHOLD INCOME,
IMPORT DUTIES,
INCOME,
INCOME EFFECT,
INCOME TAX,
INCOME TAXES,
INFRASTRUCTURE EXPENDITURE,
INFRASTRUCTURE FINANCING,
INFRASTRUCTURE INVESTMENT,
INFRASTRUCTURE INVESTMENTS,
INTERNATIONAL BANK,
INTERNATIONAL ECONOMICS,
INVESTING,
INVESTMENT EXPENDITURE,
INVESTMENT GROWTH,
INVESTMENT NEEDS,
INVESTMENT OPTION,
INVESTMENT STRATEGIES,
LABOR MARKET,
LOCAL MARKET,
LOW-INCOME COUNTRIES,
MACROECONOMIC VARIABLES,
MACROECONOMICS,
MARKET PRICE,
MARKET PRICES,
MONETARY FUND,
NATIONAL ACCOUNTS,
NEGATIVE VALUE,
OPERATIONAL COSTS,
OPERATIONAL EXPENDITURES,
POSITIVE EFFECTS,
POSITIVE EXTERNALITIES,
POSITIVE EXTERNALITY,
PRICE INDEX,
PRIVATE FIRMS,
PRIVATE INVESTMENT,
PRIVATE SAVINGS,
PRIVATE SECTOR,
PRODUCTION FUNCTION,
PRODUCTION STRUCTURE,
PRODUCTIVE INVESTMENT,
PRODUCTIVE INVESTMENTS,
PRODUCTIVITY,
PUBLIC CAPITAL,
PUBLIC EXPENDITURE,
PUBLIC EXPENDITURES,
PUBLIC GOODS,
PUBLIC INFRASTRUCTURE,
PUBLIC INVESTMENT,
PUBLIC INVESTMENTS,
PUBLIC SERVICES,
REAL EXCHANGE RATE,
REAL EXCHANGE RATES,
ROAD CONSTRUCTION,
SANITATION,
SUBSTITUTION EFFECT,
SUSTAINABLE DEVELOPMENT,
TAX,
TAX RATE,
TAX RATES,
TAXATION,
TOTAL FACTOR PRODUCTIVITY,
TOTAL OUTPUT,
UNEMPLOYMENT,
UTILITY FUNCTION,
VALUE ADDED,
WAGES,
WORLD MARKET, |
Accès en ligne: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100728140341
http://hdl.handle.net/10986/3870
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