VALILA, Timo () (European Investment Bank, Economic and Financial Studies) Kozluk, Tomasz () (European University Institute in Florence) Mehrotra, Aaron () (European University Institute in Florence)
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This paper describes long-term trends in public investment and analyses their causes and consequences. This has been undertaken separately for the EU-15 and the new member countries in Central and Eastern Europe. In addition, it assesses the significance of infrastructure finance through public-private partnerships, which are often portrayed as a substitute for traditional public procurement of infrastructure. The conclusion that emerges is that while public investment has been trending down in non-cohesion countries and while public-private partnerships are gaining popularity, the quantitative significance of these developments should not be exaggerated.
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Paper provided by European Investment Bank, Economic and Financial Studies in its series EIB Papers with number
1/2005.
Find related papers by JEL classification: E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures