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18:00 - 21:00 24 March 2015
So what is infrastructure anyway?
Gustave Tuck Lecture Theatre |
Gower St | London | WC1E 6BT | United Kingdom
Ticketing: Pre-booking essential
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.
+44 (0)20 3108 3304 | firstname.lastname@example.org
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