Infrastructure Development (Non-Physical), Economic Growth and Policy Choices: A Cross-Country Analysis
Keywords:
Economic growth, Infrastructure development, Non-Physical Infrastructure.Abstract
The relationship between the non-physical infrastructure and development has always been an eye catching issue. The following study inspects the influence of non-physical infrastructure on economic growth of Asian countries. Countries from where data is selected for examination are China, India, Bangladesh, Iran and Sri Lanka. The data of has been regressed from 1970 to 2019. Unit test technique has been employed and ARDL mechanism was chosen for long term and short-term analysis. The findings explain the substantial relationship between non- physical side of infrastructure development and economic growth. Social infrastructure variables i.e education and health showed positive significant relationship with economic growth. Policy has been recommended for economic growth is based on weightage approach to derive the quantitative value of the variables and then prioritize the sectors in which the government should invest according to the significance of variable.
