Ruiz-Nuñez, FernandaWei, Zichao2015-09-232015-09-232015-09https://hdl.handle.net/10986/22670The authors have assembled 1960–2012 infrastructure stock data from 145 countries to estimate the demand for infrastructure services in emerging markets and developing economies. This paper identifies that the required resource flows to satisfy new demand while maintaining service for existing infrastructure amounts to $836 billion or 6.1 percent of current gross domestic product per year over the period 2014–20. The annual infrastructure investment gap for emerging markets and developing economies is $452 billion per year, which implies that emerging markets and developing economies should almost double their current spending. The paper also estimates that half of the spending should be allocated to maintenance of existing assets. Acknowledging the challenges to compare infrastructure investment estimates across different methodologies, the authors recognize this result as a lower bound estimate and compare the results with others available in the literature.en-USCC BY 3.0 IGOURBAN TRANSPORTSANITATIONPROFIT MAXIMIZATIONGROWTH RATESMARKET COUNTRIESWATER SERVICESTRANSPORT SECTORINCOME FLOWSECONOMIC GROWTHACCOUNTINGINFRASTRUCTURE SERVICESSTOCKTRANSPORT INFRASTRUCTUREPUBLIC SECTORVEHICLESGOVERNMENT SPENDINGINDUSTRYGENERATIONEXCHANGEDEPRECIATION RATEELASTICITY OF DEMANDSERVICESDEVELOPING COUNTRIESTRENDELASTICITYINFRASTRUCTURE DEVELOPMENTPUBLIC INFRASTRUCTURECAPITAL STOCKTRAFFICAIRPORTSSTOCK DATAINFRASTRUCTURE SECTORLONG-TERM INVESTMENTMARKET ACCESSINVESTMENT PROCESSINFLATIONINTERNATIONAL BANKINFRASTRUCTURE SPENDINGDEVELOPING COUNTRYMAINTENANCE COSTSEMERGING MARKET ECONOMIESDRIVERSOPEN ACCESSCENTRAL BANKEMERGING MARKET COUNTRIESGENERATION CAPACITYROADCONTAINERIZATIONCOSTSTELECOMMUNICATIONSTRANSPORTPOWER SECTORTELEPHONE LINESINCOME GROWTHINVESTMENT REQUIREMENTGLOBALIZATIONEMERGING MARKETMARKETSPRIVATE INVESTMENTINFLATION RATEASSET REPLACEMENTINDICATORSNATIONAL INFRASTRUCTURECAPITAL EXPENDITUREECONOMIC TARGETSPRIVATE FINANCEPORTSGROSS DOMESTIC PRODUCTINVENTORYFINANCEBANK POLICYINFRASTRUCTUREMARKET ECONOMIESEXPENDITUREECONOMIC GROWTH RATEINFRASTRUCTURE INVESTMENTEMERGING MARKETSHUMAN CAPITALTELEPHONE SERVICEGOODTRANSPORTATIONCLIMATE CHANGEPOLICIESELECTRICITY DEMANDFUTUREINFRASTRUCTURE FINANCINGLAND TRANSPORTPOWERBANKINFRASTRUCTURE INVESTMENT REQUIREMENTSPOPULATION DENSITYELECTRICITY GENERATIONPRICE LEVELINVESTMENT FINANCINGSANITATION SECTORFINANCING REQUIREMENTSEXPENDITURESSHARESMARKETINFRASTRUCTURE PROJECTSECONOMICSOMROADSENERGY EFFICIENCYINFRASTRUCTURE INVESTMENTSMACROECONOMIC VARIABLESECONOMIC DEVELOPMENTRAILWAYSGOODSSANITATION SERVICESEDUCATIONSTOCKSINVESTMENTFUTURE DEMANDSHAREPOVERTYINTERNATIONAL ENERGYRAILINVESTMENT REQUIREMENTSMOBILE PHONESPROFITINVESTMENTSFIRST ORDER CONDITIONELECTRICITY PRODUCTIONPRICESDEVELOPMENT BANKINCOME LEVELSWAPINVESTINGWorking PaperWorld Bank10.1596/1813-9450-7414