Should Infrastructure Investors Care About Human Capital?

Charles Kenny and George Yang
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George Yang: Center for Global Development

No 624, Working Papers from Center for Global Development

Abstract: There is considerable interest in increasing private participation in infrastructure to meet the twin goals of climate mitigation and development in low- and middle-income countries. At the same time, this infrastructure needs to make returns in order to be financially sustainable. This paper reviews evidence on the economics of infrastructure investment and the role of human capital and uses two approaches to provide additional evidence on the link between human capital and infrastructure returns: (i) using estimated returns to individual World Bank infrastructure projects and their relationship to country levels of human capital and (ii) broader approaches linking the macroeconomic impact of infrastructure investment in the presence of varying human capital stocks.

Keywords: human capital; infrastructure (search for similar items in EconPapers)
JEL-codes: O14 O18 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2022-10-27
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Persistent link: https://EconPapers.repec.org/RePEc:cgd:wpaper:624

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