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Roads on a downhill? Trends in EU infrastructure investment

Author

Listed:
  • VALILA, Timo

    (European Investment Bank, Economic and Financial Studies)

  • Kozluk, Tomasz

    (European University Institute in Florence)

  • Mehrotra, Aaron

    (European University Institute in Florence)

Abstract

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.

Suggested Citation

  • VALILA, Timo & Kozluk, Tomasz & Mehrotra, Aaron, 2005. "Roads on a downhill? Trends in EU infrastructure investment," EIB Papers 1/2005, European Investment Bank, Economics Department.
    • Handle: RePEc:ris:eibpap:2005_001
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    Citations

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    Cited by:

    1. David Martimort & Flavio Menezes & Myrna Wooders & ELISABETTA IOSSA & DAVID MARTIMORT, 2015. "The Simple Microeconomics of Public-Private Partnerships," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 17(1), pages 4-48, February.
    2. Kappeler, Andreas & Solé-Ollé, Albert & Stephan, Andreas & Välilä, Timo, 2013. "Does fiscal decentralization foster regional investment in productive infrastructure?," European Journal of Political Economy, Elsevier, vol. 31(C), pages 15-25.
    3. Andrés Rodríguez-Pose & Yannis Psycharis & Vassilis Tselios, 2012. "Public investment and regional growth and convergence: Evidence from Greece," Papers in Regional Science, Wiley Blackwell, vol. 91(3), pages 543-568, August.
    4. Uppenberg, Kristian & Strauss, Hubert & Wagenvoort, Rien, 2011. "Financing infrastructure," EIB Economic Surveys, European Investment Bank, number 3, June.
    5. Inderst, Georg, 2013. "Private infrastructure finance and investment in Europe," EIB Working Papers 2013/02, European Investment Bank (EIB).
    6. Hans Pitlik & Margit Schratzenstaller, 2011. "Growth Implications of Structure and Size of Public Sectors," WIFO Working Papers 404, WIFO.
    7. Hans Pitlik, 2010. "Fiscal Governance and Government Investment in Europe since the 1990s," WIFO Working Papers 370, WIFO.
    8. Välilä, Timo, 2020. "Infrastructure and growth: A survey of macro-econometric research," Structural Change and Economic Dynamics, Elsevier, vol. 53(C), pages 39-49.
    9. Blanc-Brude, Frederic & Goldsmith, Hugh & Valila, Timo, 2007. "Public-Private Partnerships In Europe: An Update," Economic and Financial Reports 2007/3, European Investment Bank, Economics Department.
    10. Kappeler, Andreas & Solé-Ollé, Albert & Stephan, Andreas & Välilä, Timo, 2013. "Does fiscal decentralization foster regional investment in productive infrastructure?," European Journal of Political Economy, Elsevier, vol. 31(C), pages 15-25.

    More about this item

    Keywords

    infrastructure investment; public capital;

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures

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