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Investing in public investment: an index of public investment efficiency

  • Era Dabla-Norris

    ()

  • Jim Brumby

    ()

  • Annette Kyobe

    ()

  • Zac Mills

    ()

  • Chris Papageorgiou

    ()

Pritchett (J Econ Growth 5:361–384, 2000 ) convincingly argued that the difference between investment cost and capital value is of first-order empirical importance especially for developing countries where public investment is the primary source of investment. This paper constructs a public investment efficiency 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. Research applications are outlined. Copyright Springer Science+Business Media, LLC 2012

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File URL: http://hdl.handle.net/10.1007/s10887-012-9078-5
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Article provided by Springer in its journal Journal of Economic Growth.

Volume (Year): 17 (2012)
Issue (Month): 3 (September)
Pages: 235-266

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Handle: RePEc:kap:jecgro:v:17:y:2012:i:3:p:235-266
Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=102931

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  1. William Easterly & Sergio Rebelo, 1993. "Fiscal Policy and Economic Growth: An Empirical Investigation," NBER Working Papers 4499, National Bureau of Economic Research, Inc.
  2. Philip Keefer & Stephen Knack, 2007. "Boondoggles, Rent-Seeking, and Political Checks and Balances: Public Investment under Unaccountable Governments," The Review of Economics and Statistics, MIT Press, vol. 89(3), pages 566-572, August.
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  8. Leroy P. Jones & Pankaj Tandon & Ingo Vogelsang, 1990. "Selling Public Enterprises: A Cost/Benefit Methodology," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262600625, June.
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  11. Romp, Ward & de Haan, Jakob, 2005. "Public capital and economic growth: a critical survey," EIB Papers 2/2005, European Investment Bank, Economics Department.
  12. Witold J. Henisz & Bennet A. Zelner, 2004. "Interest Groups, Veto Points And Electricity Infrastructure Deployment," William Davidson Institute Working Papers Series 2004-711, William Davidson Institute at the University of Michigan.
  13. Davina F. Jacobs, 2008. "A Review of Capital Budgeting Practices," IMF Working Papers 08/160, International Monetary Fund.
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  17. Gupta, Sanjeev & Kangur, Alvar & Papageorgiou, Chris & Wane, Abdoul, 2014. "Efficiency-Adjusted Public Capital and Growth," World Development, Elsevier, vol. 57(C), pages 164-178.
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