Infrastructure

Currently, Asia has a population of 4.6 billion and a GDP of US$31.58 billion. Its annual infrastructure spending amounts to about 3% of GDP (US$0.95 trillion) and, if Asia is to limit the adverse effects of climate change and rising sea levels, it will need to invest 4.5% of GDP (US$1.42 trillion). These are approximate estimates, given that infrastructure spending varies between 2.5% to 8% of GDP for most countries globally.

The Innovation and Networks Executive Agency (INEA) was established in 2014, as the successor of the TEN-T Executive Agency, for the development of the Trans European Transport Network (TEN-T). INEA supports the Commission, the project promoters and the Member States by providing high quality programme management to infrastructure projects. INEA manages the Connecting Europe Facility (CEF), which is the EU programme dedicated to co-financing infrastructure projects in the fields of Transport, Energy and Telecommunications.

The intense pressures of economic competition at a global scale are fueling the growth of major infrastructure investments at an unprecedented rate. These investments are frequently perceived as critical to the ‘success’ of major urban, regional and national development through their ability to affect significant socio-economic change (OMEGA Centre, 2012).

Infrastructure Australia was established in 2008 to advise governments, industry and the community on the investments and reforms needed to deliver better infrastructure for all Australians.

Investments in infrastructure represent a fundamental component of the economic and social development of a country and geographic area. State-of-the-art and efficient infrastructure provide substantial benefits such as new jobs, reduction in production and transportation costs, interconnected markets, and privileged access to key services like health and education. Sound infrastructure allows to effectively size the benefits of globalization and ensure such benefits are commonly shared among the population and among different locations.

Infrastructure Canada is the national ministry of infrastructure rather than an independent government agency or advisory body. It designs and administers the national government's funding programs to infrastructure across a variety of sectors such as transportation, water, energy, and social infrastructure.

Is the European economy fit to fight against the giants of globalized markets? Even though market concentration increased after the liberalization of the 1990s, according to some, European firms are too small to compete successfully. Public authorities can favour the creation of “champions” through industrial policies or simply by guaranteeing an undistorted competition in wider and liberalized markets. In this commentary we cast light on EU industrial policy and its relationship with competition policy.