THE CONTRIBUTION OF PUBLIC INFRASTRUCTURE ON REGIONAL ECONOMIC GROWTH

FADLILA, MOHD. RUSADI (2015) THE CONTRIBUTION OF PUBLIC INFRASTRUCTURE ON REGIONAL ECONOMIC GROWTH. Masters thesis, UNIVERSITAS ANDALAS.

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Abstract

In general, economic growth is defined as an increase in output of goods and services produced by a country in a particular year than the previous year. Economic growth is an indicator of development results that have been carried out and as a determinant of the direction of further development, positive economic growth shows the scale economy improved. The economic growth of a country is influenced by capital accumulation such as investment in land, equipment and machinery, facilities and infrastructure, natural resources, quality and quantity of human resources, access to information technology advances, innovation, and the ability of self-development and work culture (Todaro, 2000). Capital accumulation occurs when a portion of the income is saved and reinvested with the aim to increase the output and income in the future. Procurement of new factories, machinery and raw materials can increase the physical capital stock of a country. Factor human resources is affected by population growth and an increase in quality so as to further improve productivity to generate output. While technological progress that for most economists mainly technocrats, is the most important source of economic growth, because it can produce higher output levels using the same number and combinations of input factors.

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