Author
Cerovic, Svetlana., Flores, Juan., Grigoli, Francesco., Kapsoli, Javier., Qu, Haonan., Albino, Maria.
Publication Date
2014
Publication Place
Washington, D.C. -
International Monetary Fund
Subject
Agricultural and Natural Resource Economics, Capacity, Capital investments, Capital spending, Capital, Environmental and Ecological Economics: General, Environmental management, Exhaustible Resources and Economic Development, Fiscal and Monetary Policy in Development, Fiscal Policy, Infrastructure, Intangible Capital, Investment, Macroeconomics, National Government Expenditures and Related Policies: Infrastructures, Natural Resources, Natural resources, Other Public Investment and Capital Stock, Public finance & taxation, Public Finance, Public investment and public-private partnerships (PPP), Public investment spending, Public investments, Public-private sector cooperation, Saving and investment, United States
Type
Book
Language
Arabic
Digital
Yes
Manuscript
No
Library
Wesleyan University Library
Library Asset ID
ISBN : 9781498381840, ISBN : 1498381847, ISBN : 9781484346617, ISBN : 1484346610, ISBN : 9781498314954, ISBN : 1498314953
Record ID
alma9932823296803768
Library Location
See online access
Date
2014
Notes
Over the past decade, rising oil prices have translated into high levels of public investment in most MENA and CCA oil exporters. This has prompted questions about the efficiency of public investment in generating growth and closing infrastructure gaps, as well as concerns about fiscal vulnerabilities. When public investment is inefficient, higher levels of spending may simply lead to larger budget deficits, without sufficiency increasing the quantity or quality of public infrastructure in support of economic growth. This paper examines the efficiency of public investment in the MENA and CCA oil exporters using several techniques, including a novel application of the efficiency frontier analysis, estimates of unit investment costs, and assessments of public investment processes. The analysis confirms that these oil exporters have substantial room to improve public investment efficiency. Reforms in the public financial and investment management systems are needed to achieve this objective.
Seri
Staff Discussion Notes, Staff Discussion Notes; Staff Discussion Notes ; No. 2014/010
