Developing Infrastructure in Central Asia: Impacts and Financing Mechanisms
Infrastructure development can give Central Asian economies an important boost for maintaining growth momentum, eradicating poverty, and addressing climate change.
Greater infrastructure development could give Central Asian economies a critical boost by enhancing growth, poverty eradication, climate change mitigation, and recovery from the impacts of the novel coronavirus disease (COVID-19). However, growing constraints on the use of public funds will require financing solutions and new funding sources to tackle the region’s infrastructure investment gap.
Effective infrastructure projects can induce positive spillover effects on economic growth, employment, and trade. The extent of these effects depends on a range of factors, such as the quality of infrastructure, interconnectivity, population density, income, financing access, and education. This volume examines infrastructure projects’ spillover effects on tax revenue, production, income, and trade in seven Central Asia Regional Economic Cooperation countries – Azerbaijan, Georgia, Kazakhstan, the Kyrgyz Republic, Pakistan, the People’s Republic of China, and Tajikistan – and measures the magnitude of these effects on regional economic performance.
The volume’s analyses show that infrastructure projects have positive spillover effects in both the short and medium terms. These important findings can inform and encourage innovative financing methods and help regulatory bodies formulate measures to promote or compensate for the effects of infrastructure provision.
- Introduction by Naoyuki Yoshino, Bihong Huang, Dina Azhgaliyeva, and Qaisar Abbas
- 1. Infrastructure in Central Asia and the Caucasus by Ghulam Samad and Qaisar Abbas
- 2. Measuring the Impact of Road Infrastructure on Household Well-Being: Evidence from Azerbaijan by Nurmukhammad Yusupov
- 3. Managing the Risks of Public Infrastructure Financing: Toward Sustainability by Quanhou Zhao, Licheng Zhang, Beilin Feng, Wei Liu, Xiaoyan Long, Jiaxi Sun, Xu Chen, and Qiongqi Xiao
- 4. Public–Private Partnerships in Georgia and Impact Assessment of Infrastructure by Nestan Devidze
- 5. Measuring Impacts and Financing Infrastructure in Kazakhstan by Bibigul Aidarkhanova
- 6. Measuring the Impact and Financing of Infrastructure in the Kyrgyz Republic by Kamalbek Karymshakov and Burulcha Sulaimanova
- 7. Infrastructure Development and Public–Private Partnerships: Measuring Impacts of Urban Transport Infrastructure in Pakistan by Muhammad Ayub Mehar
- 8. Are Public–Private Partnerships a Solution to the Lagging Infrastructure of Tajikistan? by Ziyodullo Parpiev