Infrastructure Stock Research Articles

Mitigating operational greenhouse gas emissions in ageing residential buildings using an Urban Digital Twin dashboard

With the increasing stock of ageing infrastructure and resource constraints in Singapore, related risks and carbon emissions can be mitigated through long-term resilience planning, automated building inspection, and effective maintenance. Sustainable actions are needed to maintain Singapore's ageing infrastructure. Hence, a state-of-the-art control and management system is required in the form of smart city digital tools. We introduce an Urban Digital Twin (UDT)—GHG App for decision-makers in Singapore's operational building greenhouse gas (GHG) emission mitigation and decarbonisation initiatives. Based on multiple-criteria decision analysis (MCDA), a Potential for Intervention (PFI) map was created to rejuvenate the building system. Decision-makers can use this map to prioritise the rejuvenation of low-carbon building systems in the built environment. A heat map of the PFI results highlights which buildings need urgent rejuvenation based on critical parameters. The GHG App utilises this method to generate maps and enables users to modify parameter weights based on their priorities, automatically updating the map. Users can plan an intervention for buildings with higher PFI values once the map is generated. The GHG App provides interactive data visualisation of 119,872 features representing Singapore's built environment, including the context size of 6,785 existing residential buildings modelled and used to demonstrate the analysis results. Our research findings can contribute to the development of standards for accounting for operational GHG emissions, setting emission limits, and planning decarbonisation in the built environment sector.

Transportation infrastructure, market integration and corporate innovation

ABSTRACT Innovation is the fundamental driving force that shapes micro-corporates’ competitiveness and promotes macroeconomic growth. In this paper, we systematically measure the stock of transportation infrastructure and the degree of market integration using China’s 30 provinces data from 2009 to 2019. On this basis, we investigate the impact of transportation infrastructure on corporate innovation. We find that transportation infrastructure contributes significantly to the quantity and quality of corporate innovation. The mechanism by which transportation infrastructure promotes corporate innovation is by influencing market integration. We further find that the channel through which transportation infrastructure promotes corporate innovation by affecting the integration of commodity markets is by broadening the size of corporate’ markets, while the channel through which transportation infrastructure promotes corporate innovation by affecting the integration of capital goods and labour markets is by improving the efficiency of resource allocation in factor markets. Our study provides new evidence on the effects of transportation infrastructure on economic growth.

Analyzing the Impact of Public Capital on Private Capital Productivity in a Panel of African Nations

Analyzing the Impact of Public Capital on Private Capital Productivity in a Panel of African Nations

Investment Portfolio Optimization In Infrastructure Stocks Using The Mean-VaR Risk Tolerance Model

Infrastructure a crucial role in economic development and the achievement of Sustainable Development Goals (SDGs), with investment being a key activity supporting this. Investment involves the allocation of assets with the expectation of gaining profit with minimal risk, making the selection of optimal investment portfolios crucial for investors. Therefore, the aim of this research is to identify the optimal portfolio in infrastructure stocks using the Mean-VaR model. Through portfolio analysis, this study addresses two main issues: determining the optimal allocation for each infrastructure stock and formulating an optimal stock investment portfolio while minimizing risk and maximizing return. The methodology employed in this research is the Mean-VaR approach, which combines the advantages of Value at Risk (VaR) in risk measurement with consideration of return expectations. The findings indicate that eight infrastructure stocks meet the criteria for forming an optimal portfolio. The proportion of each stock in the optimal portfolio is as follows: ISAT (2.74%), TLKM (33.894%), JSMR (3.343%), BALI (0.102%), IPCC (5.044%), KEEN (14.792%), PTPW (25.863%), and AKRA (14.219%). The results of this study can serve as a foundation for better investment decision-making.

ESTIMATES OF CONSTRUCTION INFRASTRUCTURE STOCK FOR CAPE VERDE: 1980–2019

Building and other construction assets constitute a significant part of a country’s physical and economic infrastructure. According to several writers, the knowledge of reliable data of building and other construction assets of a specific country or region is a crucial element for the long-term management of these assets. Built capital stock statistics at the national or international levels have been available for most countries of the world, both developed and less developed ones, for some time, but construction infrastructure stock statistics at the disaggregated level are very scarce, even for most developed countries. Furthermore, the methodologies to produce the estimates of built capital stock, at the international level, do not consider countries’ specificities. This paper discusses the methodologic issues for producing construction infrastructure stock statistics for Cape Verde, and makes estimates for the period 1980–2019. The paper outlines the Perpetual Inventory Method (PIM) used to produce capital estimation, data employed, and the assumptions made to estimate missing data. The paper analyses the level of the construction infrastructure stock estimates for Cape Verde, as well as their impact on the development pattern of the country’s construction industry, and suggests how further studies can enhance our comprehension of the relationship between construction investment and economic growth and development.

Built‐environment stocks in the context of a master‐planned city: A case study of Chandigarh, India

AbstractConstruction materials accumulate in the built environment forming material stocks (MS) of buildings and infrastructure, providing various services to society that result in a nexus of human development and environmental impact. Meanwhile, unprecedented urbanization in the Global South is set to put significant demand on the resources required to ensure adequate standards of living in new and existing urban areas. This is particularly important within India; however, no study has yet explored MS within cities in India or within master‐planned urban areas designed to accommodate urbanization and a high standard of living. The present study begins to fill these gaps and aims to investigate patterns of built‐environment MS accumulation in Chandigarh, an exceptionally quickly developed city master planned to ensure universally high standards of living through a unique urban form. We adopt a bottom‐up approach to quantify the residential building and road MS at the city and sub‐city scale. The results reveal that the master plan, while enabling high standards of living, has resulted in a relative accumulation of road‐to‐building stock that is significantly larger than in other cities. This is shown to be environmentally detrimental as future urban development is limited and promotes the demolition of existing stocks, whose composition severely limits their potential as secondary resources. The study therefore provides empirical evidence to support the integration of material stock assessments into urban planning and development to ensure resource‐efficient provisioning of key services.

Investments in basic public infrastructure and their effects on economic growth in a developing country: The case of Cameroon

The literature review conducted in this study indicates that there is no unanimity regarding the definition of infrastructure and its impact on growth. While some economists argue that focusing on logistical infrastructure, such as transportation, telecommunications, water, and energy, would be beneficial for governments, others emphasise the importance of social infrastructure, such as health and education. Given the diverse range of opinions, further investigation is required, particularly in the context of Cameroon's infrastructure. The objective of this article is to evaluate the impact of investing in fundamental public infrastructure on economic growth in Cameroon. The study compares the elasticities of various infrastructure types on growth and private investment. With data from WDI 2020, a generalized method of moments is utilised, revealing that the energy sector has the highest contribution. In the majority of studies relating to infrastructure; many are those who are limited to overall infrastructures without however specifying them. Furthermore, the particularity of our study is that we are not interested in the stock of infrastructure, but rather in the amount of investment actually allocated. We are therefore trying to jointly see their repercussions on economic growth and the behaviour of private investments, something which had not yet been done in Cameroon to our knowledge. Therefore we find that the impacts of investments actually allocated do not have the same effects on the growth and behaviour of private investments; for example, everything happens as if there is a crowding out effect between the telecommunications sector and the behaviour of private investments. Macroeconomic performance in Cameroon is positively influenced by investment in road and telecommunications infrastructure. A 1% increase in investment in this sector leads to a 0.0536% boost in economic growth and a 0.329% increase in the private sector. Compared to other forms of infrastructure investment, this sector has a strong impact on the country's economic development. A 1% increase in investment in this sector leads to a 0.0536% boost in economic growth and a 0.329% increase in the private sector. These results allow on the one hand to see the infrastructures which contribute the most to economic growth in a country like Cameroon which is still struggling to take off in its development process. But they will also further densify the public-private partnership which is very important for the quantity but also the quality of infrastructure.

Boosted efficiency and unsaturated material stock growth in China's megacities: Accelerating as urbanization approaches 80 %

Buildings, infrastructure, and durable goods are essential for human activities. Understanding their relationship with socioeconomic development is crucial for optimizing resource allocation in urban settings, thereby enhancing efficiency and lessening environmental impact. This study delves into the urban material stock evolution in China's megacities, spanning 111 distinct end-use stocks. From 1978 to 2018, in-use stocks witnessed a substantial surge, increasing from a modest <350 Mt to an astounding 819–3130 Mt across cities—an average annual growth rate ranging from of 4.7 to 15.2 %. This growth was paralleled by improvements in stock productivity, associated with reductions in CO2 emissions by 154–505 Mt and conservation of significant amounts of energy and food resources. As urbanization approaches the 80 % mark, a mere 1 % rise results in considerable increments of 13.5, 1.9, and 0.6 t in per capita stocks of buildings, infrastructure, and durable goods. Our results shed light on strategies for resource circulation, stock management, and sustainable urban future trajectories.

Distributional Inequality in Social Infrastructural Provision in Etim Ekpo, Akwa Ibom State, Nigeria

There is a growing level of imbalance in the distribution of social infrastructure among communities especially in the developing countries, which has considerably impeded the socio-economic development of these countries. This study investigated the pattern of distribution of social infrastructure stock in Etim Ekpo, Akwa Ibom State, Nigeria. Data for the study were obtained from the Akwa Ibom State Statistical Yearbook complemented by direct visit to the sampled settlements in order to ascertain the available infrastructure and update same with the information obtained through secondary sources. Through a systematic random sampling, 30 communities were selected from all the 84 communities that made up the study area while the Z-score variate was employed in determining the distributional inequality in social infrastructure provision in the sampled communities. The results of the standardized and composite indicator scores of social infrastructure provision in the study area reveals that majority (20) of the rural communities are disadvantaged in terms of social infrastructure delivery as large-scale inadequacy and distributional inequality in social infrastructure provision abounds in the study area. The study recommends the urgent need for deliberate efforts geared at increase budgetary allocations for the provision of infrastructure facilities and a well supervised expenditure on the provision of these facilities in the rural communities to be made by the government as these facilities have been found to influence productivity of the rural dwellers and also affect their sustainability. Added to this, is the need for the mapping of the developmental patterns at the state level of the study area, as it would provide veritable tool for policy makers attempting to balance the distribution of social infrastructure in order to enhance the spread of development in all facets of the state.

Mapping and modelling global mobility infrastructure stocks, material flows and their embodied greenhouse gas emissions

Roads and rail-based mobility infrastructures are the basis for mobility services and underpin several Sustainable Development Goals, but also induce material use and greenhouse gas emissions. To date, no stock-flow consistent study has assessed globally accumulated stocks of mobility infrastructures, associated material flows and emissions, and their spatial patterns.We present global findings on material stocks for all roads, rail-based infrastructures, incl. tunnels and bridges, and model associated material flows and their embodied emissions for the year 2021. The stock-flow consistent model combines crowd-sourced Open Street Maps data with archetypical infrastructure designs, material compositions, assumptions on lifetimes and network growth rates, incl. uncertainty ranges. We derive spatially explicit, national-level stock estimates for 180 countries, map them at a resolution of 5 arcminutes, and derive material flows and their embodied emissions at the country-level.We find that 314 [218–403] Gt of materials (41 [28–53] tons/cap) have accumulated in global mobility infrastructure, the majority in roads as aggregates and asphalt. Stocks are unequally distributed between countries, from averages of 23 [16–30] tons/cap in low income countries, to 130 [89–164] tons/cap in high income countries. Spatial inequality of per capita stocks per area differs by orders of magnitude, from 101-104 between rural, suburban, and dense urban areas. We find that 8 [4–16] Gt/year of material flows are due to expansion and maintenance, amounting to 6 [3–10] % of global resource extraction. These translate into 0.36 [0.19–0.69] Gt CO2eq/year, or 1 [0.5–1.9] % of global GHG emissions in 2021.Approximately two-thirds of these flows result from maintenance and replacement of stocks, indicating an important lock-in of resource use due to already existing infrastructure stocks. These findings support the crucial role of improving spatial planning, limiting stock expansion and (sub-)urbanization, to achieve more sustainable resource use and mitigate climate change.

Quantifying carbon Stock and tree species diversity of green infrastructure of Varanasi, India

The world is undergoing rapid urbanization and experiencing its negative impacts, often due to the loss of urban green infrastructure. This study focuses on the green infrastructure of Varanasi city, India, and analyses current tree species diversity, and carbon storage in aboveground and belowground biomass and soil. The study calculated the biomass of urban green infrastructure because it serves as a carbon stock reservoir. As random sampling, data were collected from 24 sample plots across various urban green infrastructure sites via rigorous fieldwork. The biomass was then recorded using a non-destructive approach and a standard equation by King et al.2006. The diversity of tree species was recorded across urban green infrastructure sites, and was found to be higher in the BHU site, and lower in the MA site. The Pielou’s evenness index and Margellef’s richness index were found to be higher in the BHU site, while they were found to be lower in UPAC and MA sites, respectively. Aboveground biomass and total carbon stock were found to be high in the BLW site, with values of 1939.84 ton/ha and 7806 ton/ha, respectively, with trees having a larger girth circumference being the primary contributors. The findings of this study prove a better understanding of tree species diversity, biomass, and carbon stock of different green infrastructure sites of Varanasi city and generate evidence on how urban green space preservation and green infrastructure development may help to the countries' green economic transformation and sustainable, resilient, and low-carbon cities.

Financial Structure and Stock of Infrastructure, Utilities and Transportation Companies

This study aims to analyze the factors that affect the stock prices of companies in the infrastructure sector. This study utilizes a panel data regression method conducted from 2015 to 2022, using quarterly reports from seven different companies. According to the findings, four elements have a major impact on the stock price. The return on assets (ROA), price to book value (PBV), and total asset turnover (TATO) have a positive impact on stock prices, while debt to equity ratio (DER) has a negative impact. These findings are consistent with previous research on factors that affect stock prices. Companies should pay close attention to consistency in financial ratio indicators that affect stock prices, as demonstrated by this study. Financial ratio volatility is associated with higher risk and lower investor trust.&#x0D; Keywords: Company; Performance; Stock; Infrastructure; Ratio&#x0D; &#x0D; Abstrak&#x0D; Tujuan utama penelitian ini adalah untuk mengidentifikasi faktor-faktor yang berkontribusi terhadap fluktuasi harga saham. Penelitian ini menggunakan metode regresi data panel yang dilakukan dari tahun 2015 sampai dengan 2022, dengan laporan triwulanan dari tujuh perusahaan yang berbeda. Price to book value (PBV), return on assets (ROA), dan total asset turnover (TATO) memiliki pengaruh positif terhadap harga saham, sedangkan debt to equity ratio (DER) memiliki pengaruh negatif. Temuan ini konsisten dengan penelitian sebelumnya mengenai faktor-faktor yang mempengaruhi harga saham. Perusahaan harus memperhatikan konsistensi indikator rasio keuangan yang mempengaruhi harga saham, seperti yang ditunjukkan oleh penelitian ini. Volatilitas rasio keuangan dikaitkan dengan risiko yang lebih tinggi dan kepercayaan investor yang lebih rendah.&#x0D; Kata Kunci: Perusahaan; Kinerja; Saham; Infrastruktur; Rasio

Justification of the strategic priorities of raising investment attractiveness of housing construction (on the example of Moscow city case study)

Successful justification of strategic priorities in housing construction is vital for the comprehension of development of territorial zoning and urban infrastructure. Also, it satisfies a number of people’s needs which can be observed in renovation of the housing stock and creation of investment infrastructure for attracting external and internal capital. At the same time it is essential to understand that in the context of state and municipal administration the strategic priority for state and business interaction is meeting the needs of both parties. That is the reason why the strategy of development and improvement of the city is of vital importance from the viewpoint of the comfort of life and improvement of the quality of urban infrastructure. And in order to attract investors to the realization of construction projects in which the authorities are primarily interested it is necessary to create additional preferences. Due to the fact that profitability of mass housing construction projects is rather low but it forms the main demand among the population, taking into account the factors of comfort and integration into the urban environment, the authors decided to study and justify the existing trends in the development of large megacities with the consideration of the regional factors and justify strategic priorities for raising investment attractiveness of construction objects for investors.

Risk assessment of infrastructure REITs projects based on cloud model: a case study of China

PurposeThe need for infrastructure is growing as urbanization picks up speed, and the infrastructure REITs financing model has been crucial in reviving the vast infrastructure stock, alleviating the pressure on government funds and diversifying investment entities. This study aims to propose a framework to better assess the risks of infrastructure REITs, which can serve for the researchers and the policy makers to propose risk mitigation strategies and policy recommendations more purposively to facilitate successful implementation and long-term development of infrastructure REITs.Design/methodology/approachThe infrastructure REITs risk evaluation index system is established through literature review and factor analysis, and the optimal comprehensive weight of the index is calculated using the combination weight. Then, a risk evaluation cloud model of infrastructure REITs is constructed, and experts quantify the qualitative language of infrastructure REITs risks. This paper verifies the feasibility and effectiveness of the model by taking a basic REITs project in China as an example. This paper takes infrastructure REITs project in China as an example, to verify the feasibility and effectiveness of the cloud evaluation method.FindingsThe research outcome shows that infrastructure REITs risks manifest in the risk of policy and legal, underlying asset, market, operational and credit. The main influencing factors in terms of their weights are tax policy risk, operation and management risk, liquidity risk, termination risk and default risk. The financing project is at a higher risk, and the probability of risk is 64.2%.Originality/valueThis research contributes to the existing body of knowledge by supplementing a set of scientific and practical risk evaluation methods to assess the potential risks of infrastructure REITs project, which contributes the infrastructure financing risk management system. Identify key risk factors for infrastructure REITs with underlying assets, which contributes to infrastructure REITs project management. This research can help relevant stakeholders to control risks throughout the infrastructure investment and financing life cycle, provide them with reference for investment and financing decision-making and promote more sustainable and healthy development of infrastructure REITs in developing countries.

The stock-service productivity of the European road transport infrastructure

An efficient transport infrastructure not only connects markets and people but also positively affects economic activity, development, and growth. However, little research acknowledges the interaction between the material resources of in-use stocks of transport infrastructure and their service provision. Using the European transport sector as a case study, we quantify the mass of materials composing the transport infrastructure and analyze the interactions between in-use stocks and service provision through the stock-service productivity indicator. We also assess the primary factors driving stock-service productivity changes and explore feasible ways to improve productivity. To do so, we decompose changes in stock-service productivity to the effects of transport intensity, affluence, population density, road density, and material stock efficiency at regional and national levels based on the Log-Mean Divisia Index (LMDI) method. The results indicate that (1) the productivity of the materials stocked in the European road infrastructure increased from 51 to 57 freight-kilometers/ton-year during the 2010–2019 period; (2) freight transport intensity and affluence were the dominant driving factors in both regional and national scales, while population density, road density and material efficiency played smaller roles. This study contributes to understanding the deeper relation between resource use and its provided services.

Os efeitos da infraestrutura e do investimento público na elasticidade do investimento privado: uma investigação empírica para o Brasil

ABSTRACT This study estimates the determinants of the elasticities of private investment and total investment for the Brazilian economy for the period between 1960 and 2013. It uses a Bayesian model averaging and weighted-average least-squares approach with a flexible accelerator model of investment equation and Kalman filtering techniques. We conclude that the aggregate infrastructure index (taken from the main component analysis) and public investment crowd-in private investment. The results indicate that private investment is constrained by the availability of bank credit. Furthermore, we find that infrastructure stock and public investment are two of the main determinants of the elasticities of private investment. This demonstrates that public investment, mainly in infrastructure, is of great importance in raising the sensitivity of private investment in the Brazilian economy.

Comparative Assessment of Variable Loads and Seismic Actions on Bridges: A Case Study in Italy Using a Multimodal Approach

The structural safety of the infrastructure stock is an important issue in modern seismic performance assessments. Following recent seismic events, reports have highlighted the increased vulnerability of physical infrastructural assets, particularly for many bridges across the Italian road and motorway network. Italy possesses one of the most complex and intricate road systems in Europe which was constructed across irregular territories in terms of plan and elevation and of varying dimensions. As such, a comparative case study is presented herein. This case study aims to characterise the seismic vulnerability of the Vizzana-Zampogna viaduct which is part of the A15 Parma-La Spezia motorway, near the locality of Selva Bocchetto. The viaduct is considered representative of the 1970s construction period. It is approximately 342 m in length and is characterized by a flat curvilinear prestressed concrete deck consisting of 15 spans simply supported on reinforced concrete piers. To better understand the seismic structural response of the individual piers of the viaduct, a “multi-modal” nonlinear static analysis was developed, which allows the effects of sectional stresses relative to the variable load profiles of the single modes to be combined through the quadratic modal combination, and to be compared with the relevant limit state. The research aims to qualitatively identify the piers most vulnerable to seismic action and to study the effects that are induced by introducing variable loads and intensity scenarios of different earthquakes.

Infrastructure, institutions and economic growth in Sub-Saharan Africa: New evidence using the CS-ARDL approach

This study examined the interactive effect of infrastructure and quality of institutions on economic growth in Sub-Saharan Africa over the period 1996 and 2020 using the Cross-Sectional-Autoregressive Distributed Lag estimator. This was with a view to providing additional macroeconomic evidence that is specific to the SSA region on the response of economic growth to infrastructure development contingent on the quality of the underlying institutions. Annual data on variables such as real Gross Domestic Product (GDP) per capita, fixed telephone subscriptions, mobile cellular subscriptions, electric power consumption, improved water source, improved sanitation facilities, gross capital formation per capita, labour force, urbanisation ratio, land area and population density were obtained from the World Bank Development Indicators (WDI) of the World Bank, 2021 edition. Also, data on institutional quality variables, namely, control of corruption, government effectiveness, political stability and absence of violence/terrorism, regulatory quality, rule of law, as well as voice and accountability were sourced from the World Governance Indicators (WDI) also of the World Bank, 2021 edition. Results showed that the per capita convergence holds true for countries in SSA in the long run, while it does not hold in the short run. The findings also revealed that infrastructure does not independently lead to economic growth in SSA when the role of institutions is not considered. This implies that any improvement in the stock of infrastructure will promote growth only when it is complemented with strong institutions. The study concluded that countries with weak institutions do not benefit maximally from infrastructure development policies as weak institutions constrain the efficient use of infrastructure assets.

Mapping material stocks of buildings and mobility infrastructure in the United Kingdom and the Republic of Ireland

Mapping material stocks of buildings and mobility infrastructure in the United Kingdom and the Republic of Ireland

Problems of the electric power system of the municipal electric transport of Novorossiysk

A developed public transport system, in which the types of municipal electric transport (trams, trolleybuses, etc.) are of paramount importance, ensures a reduction in the load on the environment – this pattern is one of the principles of such a scientific direction as sustainable development. However, for the functioning of any structure, the use of energy resources is necessary – in the case of a trolleybus transport complex, the electric power system acts as a resource. This information provided is a description of the principles of operation of the Novorossiysk enterprise, on which the maintenance of trolleybus rolling stock and elements of the electric power infrastructure are based. In addition, the publication discusses the problems faced by the municipal electric transport system.