Infrastructure: What Is Needed and How Do We Pay for It? |
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| Authors: | Michael Keating |
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| Institution: | 1. Independent Pricing and Regulatory Tribunal, New South Wales;2. This is a revised version of a paper presented at The Australian– Melbourne Institute Economic and Social Outlook Conference, March 2008. |
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| Abstract: | Claims of an infrastructure crisis lack definition, and fail to provide evidence that investment projects that would generate an economic return, including both private and social benefits, are not being funded. This paper shows how setting economic prices for energy, water, transport and communications will provide a better guide to the optimal amount of future infrastructure investment than the likely responses by proponents of an alleged infrastructure crisis. |
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