Infrastructure

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  • The physical and organizational networks facilitating capital, which is usually provided by public agencies or governments. Contemporaneously, there has been a movement to privatize the provision of economic infrastructure in various countries in order to reduce public outlays. Infrastructure, also known as social overhead capital, includes roads, bridges, telecommunications, railways, and the sewage system— the bulk of which is referred to as public utilities. Infrastructure is a crucial basis for economic growth and development, especially because it can attract foreign capital to enhance productivity and create linkages (positive productive externalities for other industries).

    Apart from physical infrastructure (capital), three areas of the service sector may also be considered infrastructural: (1) education in science and technology (human capital), (2) technological innovation, and (3) extensive health care delivery ...

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