Abstract
In order to efficiently manage infrastructure stocks in a society, it is requested for the management bodies to investigate the optimal management policies for the investment of new stocks, the demolishion of outdated ones, the repair of deteriorated ones. The economic accounting systems to describe the economic values of infrastructure and its variation through time is requested to be established for efficient infrastructure management. In this paper, a dynamic infrastructure investment model, which is an extension of the traditional Ramsey model for an open economy, is formulated to analyze the optimal management policies of the infrastructure stocks. The economic accounting indicators are present to describe the values of infrastructure and its variation. The paper also includes the foundamental framework of economic accounting for the efficient infrastructure management.
