The publication of this book is in large part due to the role of Canada's Inter­ national Development Research Center (IDRC) in encouraging policy-relevant research in the fields o f poverty and equity. The book has in particular benefit­ ted much from IDRC's support of two significant ventures, the Micro Impacts of Macro Economic and Adjustment Programs (MIMAP) and the Poverty and Economic Policy (PEP) international research network. We are most grateful to the IDRC for their continued and inspiring dedication, professionalism and vision in the field of development research. The Secretariat d'appui instituti- nel a la recherche ^conomique en Afrique (SISERA), the World Bank Institute and the African Economic Research Consortium (AERC) have also partially supported to the production of this book. The fundamental research was fur­ ther financed by grants from the Social Sciences and Humanities Research Council of Canada (SSHRC) and from the Ponds Quebecois de Recherche sur la Societe et la Culture (FQRSC) of the Province of Quebec. This book is mostiy targeted to senior undergraduate and graduate students in economics as well as to researchers and analytical policy makers. More gen­ erally, it is intended for social scientists and statisticians. Some of its content can also be instructive to less specialized readers, such as those in the general public wishing to introduce themselves to the challenges posed and the insights generated by distributive analysis. The book covers a relatively wide range of material.

The publication of this book is in large part due to the role of Canada''s Inter­ national Development Research Center (IDRC) in encouraging policy-relevant research in the fields o f poverty and equity. The book has in particular benefit­ ted much from IDRC''s support of two significant ventures, the Micro Impacts of Macro Economic and Adjustment Programs (MIMAP) and the Poverty and Economic Policy (PEP) international research network. We are most grateful to the IDRC for their continued and inspiring dedication, professionalism and vision in the field of development research. The Secretariat d''appui instituti- nel a la recherche ^conomique en Afrique (SISERA), the World Bank Institute and the African Economic Research Consortium (AERC) have also partially supported to the production of this book. The fundamental research was fur­ ther financed by grants from the Social Sciences and Humanities Research Council of Canada (SSHRC) and from the Ponds Quebecois de Recherche sur la Societe et la Culture (FQRSC) of the Province of Quebec. This book is mostiy targeted to senior undergraduate and graduate students in economics as well as to researchers and analytical policy makers. More gen­ erally, it is intended for social scientists and statisticians. Some of its content can also be instructive to less specialized readers, such as those in the general public wishing to introduce themselves to the challenges posed and the insights generated by distributive analysis. The book covers a relatively wide range of material.

Public spending on infrastructure plays an important role in promoting economic growth and poverty alleviation. Empirical studies unequivocally show that under-investment in infrastructure limit economic growth. At the same time, numerous other studies have shown that investment in infrastructure can be a highly effective tool in fighting poverty reduction1. In that context, the financing of infrastructure has been a critical element of most economic growth and poverty reduction strategies in developing countries, since the start of this millennium. This book provides a comparative analysis of the aggregate and sectoral implications of higher spending on infrastructure in three very different Asian countries: China, Pakistan, and the Philippines. Particular attention is paid to the role of alternative financing mechanisms for increasing public infrastructure investment, namely distortionary and non-distortionary means of financing. The book will be of interest to scholars and policy-makers concerned with economic growth in developing countries.

The publication of this book is in large part due to the role of Canada's Inter­ national Development Research Center (IDRC) in encouraging policy-relevant research in the fields o f poverty and equity. The book has in particular benefit­ ted much from IDRC's support of two significant ventures, the Micro Impacts of Macro Economic and Adjustment Programs (MIMAP) and the Poverty and Economic Policy (PEP) international research network. We are most grateful to the IDRC for their continued and inspiring dedication, professionalism and vision in the field of development research. The Secretariat d'appui instituti- nel a la recherche ^conomique en Afrique (SISERA), the World Bank Institute and the African Economic Research Consortium (AERC) have also partially supported to the production of this book. The fundamental research was fur­ ther financed by grants from the Social Sciences and Humanities Research Council of Canada (SSHRC) and from the Ponds Quebecois de Recherche sur la Societe et la Culture (FQRSC) of the Province of Quebec. This book is mostiy targeted to senior undergraduate and graduate students in economics as well as to researchers and analytical policy makers. More gen­ erally, it is intended for social scientists and statisticians. Some of its content can also be instructive to less specialized readers, such as those in the general public wishing to introduce themselves to the challenges posed and the insights generated by distributive analysis. The book covers a relatively wide range of material.

The publication of this book is in large part due to the role of Canada''s Inter­ national Development Research Center (IDRC) in encouraging policy-relevant research in the fields o f poverty and equity. The book has in particular benefit­ ted much from IDRC''s support of two significant ventures, the Micro Impacts of Macro Economic and Adjustment Programs (MIMAP) and the Poverty and Economic Policy (PEP) international research network. We are most grateful to the IDRC for their continued and inspiring dedication, professionalism and vision in the field of development research. The Secretariat d''appui instituti- nel a la recherche ^conomique en Afrique (SISERA), the World Bank Institute and the African Economic Research Consortium (AERC) have also partially supported to the production of this book. The fundamental research was fur­ ther financed by grants from the Social Sciences and Humanities Research Council of Canada (SSHRC) and from the Ponds Quebecois de Recherche sur la Societe et la Culture (FQRSC) of the Province of Quebec. This book is mostiy targeted to senior undergraduate and graduate students in economics as well as to researchers and analytical policy makers. More gen­ erally, it is intended for social scientists and statisticians. Some of its content can also be instructive to less specialized readers, such as those in the general public wishing to introduce themselves to the challenges posed and the insights generated by distributive analysis. The book covers a relatively wide range of material.

Public spending on infrastructure plays an important role in promoting economic growth and poverty alleviation. Empirical studies unequivocally show that under-investment in infrastructure limit economic growth. At the same time, numerous other studies have shown that investment in infrastructure can be a highly effective tool in fighting poverty reduction1. In that context, the financing of infrastructure has been a critical element of most economic growth and poverty reduction strategies in developing countries, since the start of this millennium. This book provides a comparative analysis of the aggregate and sectoral implications of higher spending on infrastructure in three very different Asian countries: China, Pakistan, and the Philippines. Particular attention is paid to the role of alternative financing mechanisms for increasing public infrastructure investment, namely distortionary and non-distortionary means of financing. The book will be of interest to scholars and policy-makers concerned with economic growth in developing countries.