McKinnon Lectures (No. 6): Public Infrastructure Investment—A BRICS Perspective for Inclusive Sustainable Development
2015-12-21 IMI
In his speech, Dr. Josie first discussed the extent to which infrastructure investment may act as a catalyst for promoting Sustainable Development Goals (SDGs). He elaborated on the role of public infrastructure investment in meeting SDGs in the BRICS countries, and pointed out that public infrastructure was a key intermediate factor for ensuring that individual’s living standard, socio-economic and political rights are sustainable in the long-term.
Dr. Josie reviewed the current trends in infrastructure investment as they relate to gross fixed capital formation (GFCF) from a long-term BRICS perspective. He elaborated on the trends in public infrastructure financing, capital stock—the indicator for public infrastructure investment and GFCF among BRICS countries. He then put forward a possible theoretical framework for public investment to address inclusive development and basic public infrastructure service backlogs targeting SDGs in BRICS countries. Finally, Dr. Josie discussed the possible role of a BRICS development finance institution in financing public infrastructure investment, and concluded with some specific proposals. He believed that the recent establishment of the BRICS New Development Bank and the accession of the RMB to international reserve currency status presented China with an opportunity to bridge the long-term infrastructure investment financing gap faced by for developing countries for the provision of basic infrastructure services to address the SDGs.
After his speech, Dr. Josie was appointed as member of IMI Academic Committee. Prof. Zhang Zhixiang, on behalf of IMI, presented Dr. Josie the letter of appointment.
