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Investing in public investment: an index of public investment efficiency

Dabla-Norris, Era and Brumby, Jim and Kyobe, Annette and Mills, Zac and Papageorgiou, Chris (2012) Investing in public investment: an index of public investment efficiency. Journal of Economic Growth, 17 (3). pp. 235-266. ISSN 1381-4338 (print) 1573-7020 (online)

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Abstract

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.

Item Type: Article
Uncontrolled Keywords: ResPubID26509, public investment, management, project appraisal, selection, implementation, evaluation, growth, investments, indicators
Subjects: FOR Classification > 1402 Applied Economics
Faculty/School/Research Centre/Department > College of Business
Depositing User: Ms Phung.T Tran
Date Deposited: 31 Jan 2014 00:41
Last Modified: 14 May 2014 19:39
URI: http://vuir.vu.edu.au/id/eprint/23636
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Citations in Scopus: 4 - View on Scopus

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