Infrastructure Investment and Economic Development

Abstract

Purpose: The aim of the study was to investigate Infrastructure Investment and Economic Development. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: The study revealed Research on infrastructure investment and economic development highlights the vital role of robust infrastructure in driving economic growth and improving living standards. Adequate infrastructure enhances productivity, reduces transaction costs, and promotes economic activity. Well-developed transportation, energy, and communication systems boost trade competitiveness, attracting foreign investments and fostering global integration. Access to basic infrastructure services aids poverty reduction and inclusive growth by providing employment opportunities and market access, particularly in rural areas. Although infrastructure investments offer multiplier effects, challenges such as funding constraints and regulatory hurdles must be addressed for sustainable and impactful development. Unique Contribution to Theory, Practice and Policy: Infrastructure-led Growth Theory, New Economic Geography and Infrastructure as a Constraint to Growth Theory may be used to anchor future studies on Infrastructure Investment and Economic Development. Evaluate projects on their potential to generate direct and indirect economic benefits. Streamline permitting processes, establish clear property rights, and ensure fair competition to foster a competitive market for infrastructure projects.