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The effectiveness of public investment in infrastructure and the risks to the budgetary system

Listed author(s):
  • Morozkina, Alexandra


    (Russian Presidential Academy of National Economy and Public Administration (RANEPA); Economic Expert Group)

Registered author(s):

    The problem of the effectiveness of public investment in infrastructure in Russia: causes, risks to the budget, the experience of other countries and possible ways to address this issue. First compare the cost of investment and infrastructure with the qualitative characteristics of the result, based on which concludes that low efficiency of investments in Russia in comparison with other countries. Then analyzes the reasons for this, operating at two levels: operational (high costs projects) and strategic (adoption of ineffective decisions). The third part is devoted to the influence of inefficient state investment policy on the risks to the budgetary system. In particular, the decision of the Russian government about investing the National Welfare Fund in infrastructure projects in Russia and existing experience in the implementation of major infrastructure projects. The fourth part proposes possible ways to improve the efficiency of investment and reduce the risks involved.

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    Article provided by Russian Presidential Academy of National Economy and Public Administration in its journal Economic Policy.

    Volume (Year): 4 (2015)
    Issue (Month): ()
    Pages: 47-59

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    Handle: RePEc:rnp:ecopol:ep1548
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    1. Era Dabla-Norris & Jim Brumby & Annette Kyobe & Zac Mills & Chris Papageorgiou, 2012. "Investing in public investment: an index of public investment efficiency," Journal of Economic Growth, Springer, vol. 17(3), pages 235-266, September.
    2. Gómez-Lobo, Andrés, 2012. "Institutional Safeguards for Cost Benefit Analysis: Lessons from the Chilean National Investment System," Journal of Benefit-Cost Analysis, Cambridge University Press, vol. 3(01), pages 1-30, January.
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