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18:00 - 21:00 24 March 2015

So what is infrastructure anyway?

Location

Gustave Tuck Lecture Theatre | Wilkins Building (link Map)
Gower St | London | WC1E 6BT | United Kingdom

Open to: Academic | Alumni | Public | Student
Admission: Free
Ticketing: Pre-booking essential

Speaker information

Professor Timo Valila, Economic Advisor of the European Investment Bank

Infrastructure has, so far, not been clearly defined in economic terms. A distinction between economic and social infrastructure has been made by convention; however, their components have been enumerated rather than defined. The few papers seeking to define infrastructure economically have been inconclusive and inconsistent with one another.

In this lecture, Professor Timo Valila discusses infrastructure assets’ economic characteristics; their economic role; and the role of market failures associated with the assets and the services they help produce. Against that background, he seeks to articulate criteria that help identify infrastructure better from an economic perspective. These criteria also cast some light on what is so fundamental about infrastructure, and why a distinction between economic and social infrastructure is indeed economically justified.


Contact

Donna Gage
+44 (0)20 3108 3304 | d.gage@ucl.ac.uk


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