Assessing the Policy Provisions and Institutional Behavioural Factors Influencing Rail Infrastructure Financing in Developing Countries

Purpose: Financing rail infrastructure development in developing countries has hitherto received scant academic attention, especially in empirical developments. This research study assesses the policy provisions and institutional behavioral factors influencing rail infrastructure financing in developing countries such as Ghana. Methodology: An empirical and positivist epistemological lens was adopted using triangulation between deductive and inductive approaches to test three hypothesis. Methods adopted included questionnaire survey and interviews to gather primary data, and inferential statistics such as Bivariate Linear Regression Analysis. Findings: Factors identified that inhibit rail infrastructure development in developing countries include: ineffective monitoring and evaluation, a largely neglected rail sector and archaic financing posture. Based upon the findings, prescriptive guidance on financing future rail infrastructure for policymakers and governments is delineated. Originality: This novel research identifies a number of interventions, that if implemented, will engender socio-economic and regional inter-trade integration and prosperity to the sub-region of West Africa.