Measuring the Impacts of Infrastructure in CAREC Countries | Asian Development Bank

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Measuring the Impacts of Infrastructure in CAREC Countries

Event | 30 November 2018 Astana, Kazakhstan
Time of event

09:00–17:30

Background

Central Asia Regional Economic Cooperation (CAREC) was mainly founded due to the strong demand for building up effective infrastructure within the Central Asian region. The provision of such infrastructure, mainly land-based, is expected to create new opportunities for local businesses as they gain better access to distant markets and increase the mobility of workers. In addition, improved infrastructure should generate positive spillover effects in terms of higher household incomes, higher tax revenues, and better economic performance of connected regions. However, the infrastructure investment gap—the difference between investment needs and current investment levels—for CAREC developing countries exceeds 5% of their projected GDP for the 5-year period from 2016 to 2020.

Given the limited availability of private funds and underdevelopment of capital markets in the majority of CAREC countries, evaluating the fiscal effectiveness of projects is vital for sustainable development of the region. Having better estimates of the impact of infrastructure can also help support the development new tools, such as infrastructure bonds, land-value capture, and public-private partnerships (PPP) to finance infrastructure projects by leveraging private sector money.

Objectives
  • Assess the current capacity of CAREC member countries to finance infrastructure from both public and private funds
  • Identify the barriers which may limit such financing relative to required infrastructure needs
  • Investigate new avenues for closing the infrastructure investment gap, including PPPs, infrastructure bonds and land-value capture schemes
Participants

50 academics, think tank researchers, and students

Output

Research papers which will be considered for inclusion in ADBI’s working paper series, and in a published book

How to register

By invitation only

Partner

CAREC Institute (CI)