The Public Investment Programme

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The Power of Public Investment Management

Author : Kai Kaiser
Publisher : World Bank Publications
ISBN 13 : 1464803161
Total Pages : 203 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis The Power of Public Investment Management by : Kai Kaiser

Download or read book The Power of Public Investment Management written by Kai Kaiser and published by World Bank Publications. This book was released on 2014-10-17 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public resources--if invested well in public infrastructure and services--can catalyze private and community e orts and unleash an inclusive growth and development process. But too often public projects are selectedto support political patronage, poorly designed, underfunded, long delayed, very costly, or badly implemented, with little bene t to the population. This is a critical challenge for many countries, both rich and poor. This book identi es eight key institutional features that countries need to adopt to ensure that public investments support growth and development. The Power of Public Investment Management provides a clear, nontechnical discussion on approaches to improving project appraisal, disciplining political intervention in project selection, dealing with uncertainty (an issue that is likely to grow in importance with the e ects of climate change), integrating procurement skills into project design and implementation, and managing the decision on public-private partnerships. Byproviding a simple but comprehensive framework and global experience, the book provides policy makers the guidance to adopt good functional principles in the design of institutions to strengthen public investment management.

Public Investment Management Reference Guide

Author : Jay-Hyung Kim
Publisher : World Bank Publications
ISBN 13 : 1464815291
Total Pages : 279 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Public Investment Management Reference Guide by : Jay-Hyung Kim

Download or read book Public Investment Management Reference Guide written by Jay-Hyung Kim and published by World Bank Publications. This book was released on 2020-03-03 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Public Investment Management (PIM) Reference Guide aims to convey country experiences and good international practices as a basis for decisions on how to address a country-specific PIM reform agenda. The country references are drawn largely from previous diagnostics and technical assistance reports of the World Bank. The application of country diagnostics and assessments has revealed a need to address the following issues when undertaking a country reform in PIM: • Clarification of the definition and scope of public investment and public investment management • Establishment of a sound legal, regulatory, and institutional setting for PIM, making sure it is linked to the budget process • Allocation of roles and responsibilities for key players in PIM across government • Strengthening of guidance on project preappraisal, appraisal, and selection-prioritization procedures and deepening of project appraisal methodologies • Integration of strategic planning, project appraisal-selection, and capital budgeting • Management of multiyear capital budget allocations and commitments • Efforts to address effective implementation, procurement, and monitoring of projects • Strengthening of asset management and ex post evaluation • Integration of PIM and public-private partnership (PPP) in a unified framework • Rationalization and prioritization of the existing PIM project portfolio • Development of a PIM database and information technology in the form of a PIM information system. The PIM Reference Guide does not seek to provide definitive answers or standard guidance for the common PIM issues facing countries. Nor does it seek to provide a detailed template for replication across countries: this would be impossible given the diversity of country situations. Instead, each chapter begins with an overview of the specific reform issue, lists approaches and experiences from different countries, and summarizes the references and good practices to be considered in designing country-specific reform actions.

Investing in Public Investment

Author : Mr.Chris Papageorgiou
Publisher : International Monetary Fund
ISBN 13 : 1455217891
Total Pages : 46 pages
Book Rating : 4.4/5 (552 download)

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Book Synopsis Investing in Public Investment by : Mr.Chris Papageorgiou

Download or read book Investing in Public Investment written by Mr.Chris Papageorgiou and published by International Monetary Fund. This book was released on 2011-02-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper introduces a new index that captures the institutional environment underpinning public investment management across four different stages: project appraisal, selection, implementation, and evaluation. Covering 71 countries, including 40 low-income countries, the index allows for benchmarking across regions and country groups and for nuanced policy-relevant analysis and identification of specific areas where reform efforts could be prioritized. Potential research venues are outlined.

A European Public Investment Outlook

Author : Floriana Cerniglia
Publisher : Open Book Publishers
ISBN 13 : 1800640145
Total Pages : 166 pages
Book Rating : 4.8/5 (6 download)

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Book Synopsis A European Public Investment Outlook by : Floriana Cerniglia

Download or read book A European Public Investment Outlook written by Floriana Cerniglia and published by Open Book Publishers. This book was released on 2020-06-12 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: This outlook provides a focused assessment of the state of public capital in the major European countries and identifies areas where public investment could contribute more to stable and sustainable growth. A European Public Investment Outlook brings together contributions from a range of international authors from diverse intellectual and professional backgrounds, providing a valuable resource for the policy-making community in Europe to feed their discussion on public investment. The volume both offers sector-specific advice and highlights larger areas which should be prioritized in the policy debate (from transport to social capital, R&D and the environment). The Outlook is structured into two parts: the chapters of Part I respectively explore public investment trends in France, Germany, Italy, Spain and Europe as a whole, and illuminate how the legacy of the 2008 Global Financial Crisis is one of insufficient public investment. Part II investigates some areas into which resources could be channelled to reverse the recent trend and provide European economies with an adequate public capital stock. The essays in this outlook collectively foster a broad approach to and definition of public investment, that is today more relevant than ever. Offering up a timely and clear case for the elimination of bias against investment in European fiscal rules, this outlook is a welcome contribution to the European debate, aimed both at policy makers and general readers.

Public Investment Management Assessment - Review and Update

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
ISBN 13 : 1498308449
Total Pages : 32 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Public Investment Management Assessment - Review and Update by : International Monetary Fund. Fiscal Affairs Dept.

Download or read book Public Investment Management Assessment - Review and Update written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2018-05-10 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Public Investment Management Assessments (PIMAs) are the IMF‘s key tool for assessing infrastructure governance over the full investment cycle and supporting economic institution building in this area. The PIMA framework was first introduced in the 2015 Board Paper on “Making Public Investment More Efficient,” as part of the IMF’s Infrastructure Policy Support Initiative (IPSI). A key motivation for its development has been that strong infrastructure governance is critical for public investment to spur economic growth. PIMAs offer rigorous assessment of infrastructure governance, that is, the key public investment management (PIM) institutions and processes of a country. On the basis of the PIMAs conducted to date, this paper summarizes the lessons learned and updates the assessment framework itself. PIMAs summarize the strengths and weaknesses of country public investment processes, and set out a prioritized and sequenced reform action plan. The PIMA framework has been well-received by member countries, with over 30 PIMAs conducted to date (mainly in emerging markets (EMs) and low income developing countries (LIDCs), and a pipeline of new requests in place; eight PIMAs have been or are about to be published. The PIMAs conducted show that there is much room for strengthening PIM, with weaknesses spread across the investment cycle. The results and recommendations of several PIMAs have been used in IMF lending, surveillance, and capacity development (CD) work, and have improved support and coordination among CD providers. While leaving the structure of the 2015 framework unchanged, the revised PIMA framework highlights some critical governance aspects more prominently. In particular, it brings out more fully some key aspects of maintenance, procurement, independent review of projects, and the enabling environment (e.g., adequacy of the legal framework, information systems, and staff capacity). Yet, the revised PIMA retains the key features of the 2015 framework, including the three-phase structure (planning, allocation, and implementation) with five institutions assigned to each phase, three dimensions under each institution, and three possible scores under each dimension (i.e., not/partially/fully met). The revision has benefitted from extensive stakeholder feedback, including from IMF teams, World Bank staff, and country authorities."

Valuing U.S. National Parks and Programs

Author : Linda J. Bilmes
Publisher : Routledge
ISBN 13 : 1351055763
Total Pages : 135 pages
Book Rating : 4.3/5 (51 download)

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Book Synopsis Valuing U.S. National Parks and Programs by : Linda J. Bilmes

Download or read book Valuing U.S. National Parks and Programs written by Linda J. Bilmes and published by Routledge. This book was released on 2019-07-12 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides the first comprehensive economic valuation of U.S. National Parks (including monuments, seashores, lakeshores, recreation areas, and historic sites) and National Park Service (NPS) programs. The book develops a comprehensive framework to calculate the economic value of protected areas, with particular application to the U.S. National Park Service. The framework covers many benefits provided by NPS units and programs, including on-site visitation, carbon sequestration, and intellectual property such as in education curricula and filming of movies/ TV shows, with case studies of each included. Examples are drawn from studies in Santa Monica Mountains National Recreation Area, Golden Gate National Recreation Area, Everglades National Park, and Chesapeake Bay. The editors conclude with a chapter on innovative approaches for sustainable funding of the NPS in its second century. The framework serves as a blueprint of methodologies for conservationists, government agencies, land trusts, economists, and others to value public lands, historical sites, and related programs, such as education. The methodologies are relevant to local and state parks, wildlife refuges, and protected areas in developed and developing countries as well as to national parks around the world. Containing a series of unique case studies, this book will be of great interest to professionals and students in environmental economics, land management, and nature conservation, as well as the more general reader interested in National Parks.

The Macroeconomic Effects of Public Investment

Author : Mr.Abdul Abiad
Publisher : International Monetary Fund
ISBN 13 : 1484361555
Total Pages : 26 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis The Macroeconomic Effects of Public Investment by : Mr.Abdul Abiad

Download or read book The Macroeconomic Effects of Public Investment written by Mr.Abdul Abiad and published by International Monetary Fund. This book was released on 2015-05-04 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to identify the causal effect of government investment in a sample of 17 OECD economies since 1985 and model simulations, the paper finds that increased public investment raises output, both in the short term and in the long term, crowds in private investment, and reduces unemployment. Several factors shape the macroeconomic effects of public investment. When there is economic slack and monetary accommodation, demand effects are stronger, and the public-debt-to-GDP ratio may actually decline. Public investment is also more effective in boosting output in countries with higher public investment efficiency and when it is financed by issuing debt.

Beyond The Rule Of Thumb

Author : Tito Boeri
Publisher : Routledge
ISBN 13 : 042969394X
Total Pages : 175 pages
Book Rating : 4.4/5 (296 download)

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Book Synopsis Beyond The Rule Of Thumb by : Tito Boeri

Download or read book Beyond The Rule Of Thumb written by Tito Boeri and published by Routledge. This book was released on 2019-04-23 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses the rationale for correcting market prices in the evaluation of public investments. It also aims at covering techniques of project appraisals, such as the effects method, cost efficiency techniques, multicriteria analysis, and related logical frameworks.

Improving Public Investment Efficiency in the G-20

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
ISBN 13 : 1498344259
Total Pages : 33 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Improving Public Investment Efficiency in the G-20 by : International Monetary Fund. Fiscal Affairs Dept.

Download or read book Improving Public Investment Efficiency in the G-20 written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2015-01-09 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Through the provision of both social and economic infrastructure, public investment can serve as an important catalyst for economic growth. A significant body of theoretical and empirical research underscores the positive relationship between investment in high-quality public infrastructure and economy-wide productivity.1 Against the background of a steady decline in public investment as a share of GDP in advanced economies, evidence of infrastructure bottlenecks in emerging economies, and the sluggish global economic recovery, the G-20 has called for ramping up public investment to raise long-run economic growth (G-20, 2014).2 However, the economic and social impact of public investment crucially depends on its efficiency. Despite anecdotal evidence of projects plagued by time delays, cost overruns, and inadequate maintenance, there are few robust empirical studies of the determinants of public investment efficiency. This paper explores the link between public investment management (PIM) institutions and the efficiency of public investment for the G-20 countries. Based on the analysis from a recent IMF study, the paper finds that better PIM enhances public infrastructure quality, and pinpoints key institutional reforms needs to boost public investment efficiency (IMF 2015). These findings and recommendations are based on a comprehensive data set on investment, infrastructure and capital stocks, and two analytical innovations: (i) a new cross-country Public Investment Efficiency Index (PIE-X); and (ii) a new Public Investment Management Assessment (PIMA) which is applied to G-20 countries.

Public Investment Criteria

Author : Stephen A. Marglin
Publisher :
ISBN 13 :
Total Pages : 104 pages
Book Rating : 4.:/5 (89 download)

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Book Synopsis Public Investment Criteria by : Stephen A. Marglin

Download or read book Public Investment Criteria written by Stephen A. Marglin and published by . This book was released on 1967 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay on public investment criteria and the role of cost benefit analysis in the implementation of economic planning for economic development in India - criteria include consumption benefits, costs, time factor, interest, budgetary constraints, risk and dynamics. References pp. 100 and 101.

Is the Public Investment Multiplier Higher in Developing Countries? An Empirical Exploration

Author : Mr.Alejandro Izquierdo
Publisher : International Monetary Fund
ISBN 13 : 151352111X
Total Pages : 47 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Is the Public Investment Multiplier Higher in Developing Countries? An Empirical Exploration by : Mr.Alejandro Izquierdo

Download or read book Is the Public Investment Multiplier Higher in Developing Countries? An Empirical Exploration written by Mr.Alejandro Izquierdo and published by International Monetary Fund. This book was released on 2019-12-20 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last decade, empirical studies analyzing macroeconomic conditions that may affect the size of government spending multipliers have flourished. Yet, in spite of their obvious public policy importance, little is known about public investment multipliers. In particular, the clear theoretical implication that public investment multipliers should be higher (lower) the lower (higher) is the initial stock of public capital has not, to the best of our knowledge, been tested. This paper tackles this empirical challenge and finds robust evidence in favor of the above hypothesis: countries with a low initial stock of public capital (as a proportion of GDP) have significantly higher public investment multipliers than countries with a high initial stock of public capital. This key finding seems robust to the sample (European countries, U.S. states, and Argentine provinces) and to the identification method (Blanchard-Perotti, forecast errors, and instrumental variables). Our results thus suggest that public investment in developing countries would carry high returns.

Public Investment Management in the New EU Member States

Author : Thomas Laursen
Publisher : World Bank Publications
ISBN 13 : 0821378953
Total Pages : 50 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Public Investment Management in the New EU Member States by : Thomas Laursen

Download or read book Public Investment Management in the New EU Member States written by Thomas Laursen and published by World Bank Publications. This book was released on 2009-02-20 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper describes the characteristics of public investment management (PIM) in seven EU countries as it applies to a single sector transport infrastructure. The report highlights some of the common challenges that four relatively new EU member states Poland, Slovakia, Slovenia, and Latvia face as they plan and execute their transport infrastructure projects. It recognizes the importance that EU-mandated processes and procedures have in shaping national systems in the new member states (NMS), but the report finds that actual practices often fall short of EU goals due to capacity constraints, weak institutional structures, and other factors. The experiences of the NMS are compared with those of more developed economies (namely Spain, the UK, and Ireland) to assess whether the later countries have faced similar challenges in managing public investment, and if so, what measures they have adopted to overcome them. This comparative analysis serves to draw out several good practice examples that are relevant for all countries. How those practices are applied in each country is a matter for further study, as each country considers its own political culture and administrative tradition. This paper is a first step toward building dialogue among public finance practitioners in Central and Eastern Europe on how to make public investment projects more effective and efficient over the long term.

The Green Book

Author : Great Britain. Treasury
Publisher : Stationery Office
ISBN 13 : 9780115601071
Total Pages : 114 pages
Book Rating : 4.6/5 (1 download)

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Book Synopsis The Green Book by : Great Britain. Treasury

Download or read book The Green Book written by Great Britain. Treasury and published by Stationery Office. This book was released on 2003 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new edition incorporates revised guidance from H.M Treasury which is designed to promote efficient policy development and resource allocation across government through the use of a thorough, long-term and analytically robust approach to the appraisal and evaluation of public service projects before significant funds are committed. It is the first edition to have been aided by a consultation process in order to ensure the guidance is clearer and more closely tailored to suit the needs of users.

Public Investment Programme

Author : Papua New Guinea. Minister for National Planning & Monitoring
Publisher :
ISBN 13 :
Total Pages : 648 pages
Book Rating : 4.:/5 (8 download)

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Book Synopsis Public Investment Programme by : Papua New Guinea. Minister for National Planning & Monitoring

Download or read book Public Investment Programme written by Papua New Guinea. Minister for National Planning & Monitoring and published by . This book was released on 2005 with total page 648 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Unbound

Author : Heather Boushey
Publisher :
ISBN 13 : 0674919319
Total Pages : 305 pages
Book Rating : 4.6/5 (749 download)

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Book Synopsis Unbound by : Heather Boushey

Download or read book Unbound written by Heather Boushey and published by . This book was released on 2019 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many fear that efforts to address inequality will undermine the economy as a whole. But the opposite is true: rising inequality has become a drag on growth and an impediment to market competition. Heather Boushey breaks down the problem and argues that we can preserve our nation's economic traditions while promoting shared economic growth.

Public Investment Programme

Author : Public Investment Programme (Ghana)
Publisher :
ISBN 13 :
Total Pages : 92 pages
Book Rating : 4.:/5 (334 download)

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Book Synopsis Public Investment Programme by : Public Investment Programme (Ghana)

Download or read book Public Investment Programme written by Public Investment Programme (Ghana) and published by . This book was released on 1996 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Mastering the Risky Business of Public-Private Partnerships in Infrastructure

Author : Manal Fouad
Publisher : International Monetary Fund
ISBN 13 : 1513576569
Total Pages : 61 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Mastering the Risky Business of Public-Private Partnerships in Infrastructure by : Manal Fouad

Download or read book Mastering the Risky Business of Public-Private Partnerships in Infrastructure written by Manal Fouad and published by International Monetary Fund. This book was released on 2021-05-10 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investment in infrastructure can be a driving force of the economic recovery in the aftermath of the COVID-19 pandemic in the context of shrinking fiscal space. Public-private partnerships (PPP) bring a promise of efficiency when carefully designed and managed, to avoid creating unnecessary fiscal risks. But fiscal illusions prevent an understanding the sources of fiscal risks, which arise in all infrastructure projects, and that in PPPs present specific characteristics that need to be addressed. PPP contracts are also affected by implicit fiscal risks when they are poorly designed, particularly when a government signs a PPP contract for a project with no financial sustainability. This paper reviews the advantages and inconveniences of PPPs, discusses the fiscal illusions affecting them, identifies a diversity of fiscal risks, and presents the essentials of PPP fiscal risk management.