Importance Of Infrastructure Development

First, there is economic infrastructure which is described as the basic facilities and services which directly benefit the process of production and distribution

Today, most people take electricity for granted, especially in the United States and other developed countries of the world. According to Walter Moss in his book, An Age of Progress?, Clashing Twentieth-Century Global Forces, during the twentieth century, perhaps no other technological advancement, even the automobile, affected the people of the world more than electricity. Electricity would become the foundation for the development of new technological advancements in industries such as agriculture, health and science, environment, and technology. Production and consumption in all these industries would continue to rise throughout the century with reliance on electricity to flourish.

The economy system was the way they produced and exchanged goods. There are four types of economies, them being the Traditional economy also known as a “barter”, Command economy also called a planned economy, Market economy which is also called a demand economy or capitalism, and a Mixed economy. The economic activities being in levels are Primary, Secondary, Tertiary, and Quaternary activities. The more developed the country the greater number and activities. There are also natural resources such as renewable, non-renewable, and inexhaustible energy sources. Those play a major part in the world trade, the value of natural resource depends on the quality that makes it useful. The economic support systems infrastructure consist of the basic support systems needed to keep the economy going. The infrastructure must be sophisticated to be a more developed country. Measuring the economic development is in per capita income, and is measured by gross natural product or by the second statistic gross domestic product. Countries around the world have different levels of economic development. Developing nations countries lack industrial base and struggle, as developed nations countries are with a high per capita income and varied

There would be many possible implications on the Chinese economy if they expanded their infrastructure investment. Expanding infrastructure investment may increase Chi-na's attractiveness as a destination for FDI. Other countries such as India have to com-pete for the same investment; China and India have similar comparative advantage’s i.e. low labour costs however an investment on infrastructure could put China at an advantage as firms would rather allocate in a destination with a better infrastructure. If firms decide

Recent doubt in country’s energy supply as a result of political concerns in the Middle East nations, and other foreign oil generating nations, also volatility in the prices of oil, and natural gas have contributed to increase country’s energy independence through a greater local energy supply and to minimize the greater effects of the economy from any prices fluctuation in the fossil fuel markets, including the natural gas price hike in 2004 and 2005 cyclone

1.The International Labor Organisation states, “ African countries are increasingly appreciating the potential of linking infrastructure investments to employment creation and poverty reduction, thereby addressing both deficits in the fight against poverty.” (http://www.ilo.org/wcmsp5/groups/public/---ed_emp/---emp_policy/---invest/documents/meetingdocument/wcms_392965.pdf)

wind power to produce enough energy for the citizens. Other sources of energy being used

Development of transport infrastructure is a very expensive process. When the Canadian government, in the 1870s, promised to build a railway from Nova Scotia to British Columbia, it took more than two years just to find a company which agreed to do it. This is what happens today when the country needs to grow the

From the time when man invented fire, he has put his faith in one energy source or another. Energy plays a significant factor in our lives, providing luxury, swelling productivity and letting us to live the way we want too. Our lives are exactly surrounded by energy, but we do not habitually stop to think about why those energy sources are significant. Energy is the most discussed subject and has become a basic requirement for the societies. It is an important factor on to which economies depend and prevail. Independence in energy leads to prosperity and economic progress in the country. The significance of energy generation cannot be unrecognized due to its crucial share in the industrial practice and growth of the

Long-run growth refers to the sustained increase in the quantity of commodities and services produced by the economy while economic growth refers to rise in the market value of the commodities and services produced by the economy over time. Economic growth is usually measured as a percentage change in the real gross domestic product (GDP) (Jones 2014). This paper will explain how the creation of a Canadian Infrastructure Development Bank by the Canadian bank will lead to long run and short run economic growth.

There is a great correlation between development and accessibility of electricity. “Excluding South Africa, the entire installed generation capacity of sub-Saharan Africa is only 28 Gigawatts, equivalent to that of Argentina” (World Bank). Providing electricity can lead many investors in sub-Saharan countries and also can generate small business to the local people such as welding, shaving and many more jobs.

There is a great understandable hunger for energy in the world. Increases uses of energy are strongly correlated with the gross domestic product

Because the economic opportunity of the nation’s populations is dependent upon efficient transport systems; which, in most cases, are dependent upon a publically-funded infrastructure; which, in turn, is dependent upon the economic strength of the populations; there exists a cyclical interdependence not unlike that which exists within most supply chains. In this sense, we can view our country in terms of a large supply chain where the economy represents the finance department, the population represents the labor, and the nation’s infrastructure is representative of the distribution network—inefficiencies in any of these areas ultimately produces inefficiencies within the other areas.

The extensive roles of energy in economic growth are well known. Kaiser, Mark .J (2007) posits that there is a solid relationship between national economy and energy development, as energy supply, demand and pricing have enormous influence on economic growth. With the fast pace of economic development over the past decades, many developing nations experienced a sharp annual growth in petroleum demand. However, those with large or potentially large petroleum deposits, very sufficient and financial resources for supply investments, especially for the development of oil and gas production and exploration.

Planned infrastructure in itself enhances growth of the economy in terms of productivity of labour and also places the economy on the pedestal for growth to a developed state. The strategic location and management of space with respect to the structures (physical) in the economy when planned will lead to workers- for instance, being able to put in more labour-hours of work. The effects are very easy to observe in the services sector where lateness of personnel