Download or read book The Welfare Multiplier of Public Infrastructure Investment written by Mr.Giovanni Ganelli and published by International Monetary Fund. This book was released on 2016-02-29 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze the welfare multipliers of public spending (the consumption equivalent change in welfare for one dollar change in public spending) in a DSGE model. The welfare multipliers of public infrastructure investment are positive if infrastructure is sufficiently effective. When the medium-term output multipliers are consistent with the empirical estimates (1-1.4), the welfare multiplier is 0.8. That is, a dollar spent by the government for investment raises domestic welfare by equivalent of 0.8 dollars of private consumption. This suggests that the welfare gains of public infrastructure investment, if chosen wisely, may be substantial.

Download or read book The Welfare Multiplier of Public Infrastructure Investment written by Juha Tervala and published by . This book was released on 2016 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze the welfare multipliers of public spending (the consumption equivalent change in welfare for one dollar change in public spending) in a DSGE model. The welfare multipliers of public infrastructure investment are positive if infrastructure is sufficiently effective. When the medium-term output multipliers are consistent with the empirical estimates (1-1.4), the welfare multiplier is 0.8. That is, a dollar spent by the government for investment raises domestic welfare by equivalent of 0.8 dollars of private consumption. This suggests that the welfare gains of public infrastructure investment, if chosen wisely, may be substantial. --Abstract.

Download or read book The Welfare Multiplier of Public Infrastructure Investment written by Mr.Giovanni Ganelli and published by International Monetary Fund. This book was released on 2016-02-29 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze the welfare multipliers of public spending (the consumption equivalent change in welfare for one dollar change in public spending) in a DSGE model. The welfare multipliers of public infrastructure investment are positive if infrastructure is sufficiently effective. When the medium-term output multipliers are consistent with the empirical estimates (1-1.4), the welfare multiplier is 0.8. That is, a dollar spent by the government for investment raises domestic welfare by equivalent of 0.8 dollars of private consumption. This suggests that the welfare gains of public infrastructure investment, if chosen wisely, may be substantial.

Download or read book Economic Analysis and Infrastructure Investment written by Edward L. Glaeser and published by University of Chicago Press. This book was released on 2021-11-11 with total page 479 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policy makers often call for increased spending on infrastructure, which can encompass a broad range of investments, from roads and bridges to digital networks that will expand access to high-speed broadband. Some point to the near-term macroeconomic benefits, such as job creation, associated with infrastructure spending; others point to the long-term effects of such spending on productivity and economic growth. Economic Analysis and Infrastructure Investment explores the links between infrastructure investment and economic outcomes, analyzing key economic issues in the funding and management of infrastructure projects. It includes new research on the short-run stimulus effects of infrastructure spending, develops new estimates of the stock of US infrastructure capital, and explores incentive aspects of public-private partnerships with particular attention to their allocation of risk. The volume provides a reference for researchers seeking to study infrastructure issues and for policymakers tasked with determining the appropriate level and allocation of infrastructure spending.

Download or read book Is the Public Investment Multiplier Higher in Developing Countries An Empirical Exploration written by Mr.Alejandro Izquierdo and published by International Monetary Fund. This book was released on 2019-12-20 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last decade, empirical studies analyzing macroeconomic conditions that may affect the size of government spending multipliers have flourished. Yet, in spite of their obvious public policy importance, little is known about public investment multipliers. In particular, the clear theoretical implication that public investment multipliers should be higher (lower) the lower (higher) is the initial stock of public capital has not, to the best of our knowledge, been tested. This paper tackles this empirical challenge and finds robust evidence in favor of the above hypothesis: countries with a low initial stock of public capital (as a proportion of GDP) have significantly higher public investment multipliers than countries with a high initial stock of public capital. This key finding seems robust to the sample (European countries, U.S. states, and Argentine provinces) and to the identification method (Blanchard-Perotti, forecast errors, and instrumental variables). Our results thus suggest that public investment in developing countries would carry high returns.

Download or read book Impact of Transport Infrastructure Investment on Regional Development written by OECD and published by OECD Publishing. This book was released on 2002-05-23 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report describes evaluation methods for transport infrastructure investments to ensure that scarce resources are allocated in a way that maximises their net return to society.

Download or read book Well Spent written by Mr.Gerd Schwartz and published by International Monetary Fund. This book was released on 2020-09-03 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on the Fund’s analytical and capacity development work, including Public Investment Management Assessments (PIMAs) carried out in more than 60 countries, the new book Well Spent: How Strong Infrastructure Governance Can End Waste in Public Investment will address how countries can attain quality infrastructure outcomes through better infrastructure governance—an issue becoming increasingly important in the context of the Great Lockdown and its economic consequences. It covers critical issues such as infrastructure investment and Sustainable Development Goals, controlling corruption, managing fiscal risks, integrating planning and budgeting, and identifying best practices in project appraisal and selection. It also covers emerging areas in infrastructure governance, such as maintaining and managing public infrastructure assets and building resilience against climate change.

Download or read book The State Non State Organizations and Livelihood Outcomes in Sub Saharan Africa written by Roland Azibo Balgah and published by Cambridge Scholars Publishing. This book was released on 2024-02-06 with total page 435 pages. Available in PDF, EPUB and Kindle. Book excerpt: The discussion on the role of the state and non-state actors in the improvement of livelihoods in Sub-Saharan Africa (SSA), where economic and social development is slowest, has been characterized by a disjoint between theory and empirical research. This volume sets out to revisit this question by examining the place of the two types of actors in the development process, and the increasing influence of public-private partnerships in livelihood outcomes. The book combines theoretical reflections and empirical studies on a wide variety of initiatives in several domains that seek to improve wellbeing and livelihoods, with a focus on the Sub-Saharan country of Cameroon. The book will provide insights on an area which has been both neglected with the rise of neo-liberalism, and also revived by the recent introduction of the global development goals.

Download or read book Night Owl Build Build Build 2nd Edition written by Anna Mae Yu Lamentillo and published by Manila Bulletin Publishing Corporation. This book was released on 2023-06-19 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: Night Owl Second Edition offers a comprehensive look at the Build Build Build Program – President Rodrigo Duterte’s medium term development strategy to effectively usher in Philippines’ Golden Age of Infrastructure. It follows and provides a firsthand narrative of the daunting details of task, reforms, and projects undertaken by Department of Public Works and Highways Secretary Mark Villar. Night Owl sheds light into the difficult challenges, critiques, and difficult decisions faced by the Build Build Build team and dives into the consequences subsequently. Witness heartwarming stories of Filipinos whose lives have improved with the completion of roads, bridges, rail, flood control projects, airports, seaports and classrooms. There is no question that physical infrastructure impacts on the quality of human life. Every new road or bridge that connects a remote barangay to the town proper opens new opportunities for a hundreds to sell and buy goods and interact with other communities; every schoolroom built brings literacy and a chance to improve the lives of thousands of Filipino children; every health center put up or potable water source developed makes numerous lives healthier; and every seaport or airport constructed or improved connects communities around it to the rest of the world. Public investment in physical infrastructure is an imperative. “Night Owl” documents the making of the physical infrastructure projects that the Duterte administration completed in six years under its Build, Build, Build program. But beyond this, it expounds on the vision of an administration determined to take bold steps to close the country’s infrastructure gap and the key persons who pushed hard to realize this ambitious program. This book reveals the strong political will of President Rodrigo Duterte and his people to uplift the quality of our countrymen’s lives. “Night Owl” is as much an undisputable record of what President Duterte and his team have achieved to upgrade our country’s physical infrastructure as it is a well-documented tribute to the sacrifices of the men and women of this administration — both the early birds and the night owls — who toiled day and night to deliver on their commitments. For the next set of technocrats who want to know what must come with political will to accomplish such a tremendous undertaking; the doubters who won’t believe unless presented with figures and photos; the armchair travelers who wish to experience our provinces vicariously; and the families and friends of the people who took part in constructing these school buildings, evacuation and health centers, roads, bridges, flood control projects seaports, and airports, this book is a good read. — HON. GLORIA MACAPAGAL-ARROYO 14th President of the Philippines Night Owl is a compelling visual and informative storytelling of Philippine’s journey of change and transformation as it rally Philippines from a tiger cub economy to first world country. Anna Mae Lamentillo’s book, “Night Owl,” provides a bird’s eye view of the government’s Build, Build, Build program. It’s her finishing touches, her additional contribution to her work as the project’s chairperson while she was with the DPWH. Inside the pages of “Night Owl,” one can read about and see the developments that have helped move the country forward, even during the most challenging years brought by the Covid-19 pandemic. — EMILIO YAP III President and Vice Chairman, Manila Bulletin Publishing Corporation

Download or read book How the Stock Market Works written by Michael Becket and published by Kogan Page Publishers. This book was released on 2012-01-03 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Now more than ever, people are being affected by the fluctuations in the global economy and by financial uncertainty - with major impacts on their savings, portfolios and pensions. Fully updated for this fourth edition, How the Stock Market Works tells investors what is being traded and how, who does what with whom, and how to evaluate a particular share or bond in light of rival claims from critics and admirers. From the practical consequences of being a shareholder to a basic coverage of the taxation regime, the book provides a wealth of information on individual product types as well as the key players themselves.

Download or read book Africa s Infrastructure written by Vivien Foster and published by World Bank Publications. This book was released on 2010 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sustainable infrastructure development is vital for Africa's prosperity. And now is the time to begin the transformation. This volume is the culmination of an unprecedented effort to document, analyze, and interpret the full extent of the challenge in developing Sub-Saharan Africa's infrastructure sectors. As a result, it represents the most comprehensive reference currently available on infrastructure in the region. The book covers the five main economic infrastructure sectors--information and communication technology, irrigation, power, transport, and water and sanitation.'Africa's Infrastructure: A Time for Transformation' reflects the collaboration of a wide array of African regional institutions and development partners under the auspices of the Infrastructure Consortium for Africa. It presents the findings of the Africa Infrastructure Country Diagnostic (AICD), a project launched following a commitment in 2005 by the international community (after the G8 summit at Gleneagles, Scotland) to scale up financial support for infrastructure development in Africa. The lack of reliable information in this area made it difficult to evaluate the success of past interventions, prioritize current allocations, and provide benchmarks for measuring future progress, hence the need for the AICD.Africa's infrastructure sectors lag well behind those of the rest of the world, and the gap is widening. Some of the main--policy-relevant--findings highlighted in the book include the following: infrastructure in the region is exceptionally expensive, with tariffs being many times higher than those found elsewhere. Inadequate and expensive infrastructure is retarding growth by 2 percentage points each year. Solving the problem will cost over US$90 billion per year, which is more than twice what is being spent in Africa today.However, money alone is not the answer. Prudent policies, wise management, and soundmaintenance can improve efficiency, thereby stretching the infrastructure dollar. There is the potential to recover an additional US$17 billion a year from within the existing infrastructure resource envelope--simply by improving efficiency. For example, improved revenue collection and utility management could generate US$3.3 billion per year. Regional power trade could reduce annual costs by US$2 billion. And deregulating the trucking industry could reduce freight costs by one-half. So, raising more funds without also tackling inefficiencies would be like pouring water into a leaking bucket.Finally, the power sector and fragile states represent particular challenges. Even if every efficiency in every infrastructure sector could be captured, a substantial funding gap of $31 billion a year would remain. Nevertheless, the African people and economies cannot wait any longer. Now is the time to begin the transformation to sustainable development.

Download or read book Infrastructure and Economic Growth in Asia written by John Cockburn and published by Springer. This book was released on 2013-12-05 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public spending on infrastructure plays an important role in promoting economic growth and poverty alleviation. Empirical studies unequivocally show that under-investment in infrastructure limit economic growth. At the same time, numerous other studies have shown that investment in infrastructure can be a highly effective tool in fighting poverty reduction1. In that context, the financing of infrastructure has been a critical element of most economic growth and poverty reduction strategies in developing countries, since the start of this millennium. This book provides a comparative analysis of the aggregate and sectoral implications of higher spending on infrastructure in three very different Asian countries: China, Pakistan, and the Philippines. Particular attention is paid to the role of alternative financing mechanisms for increasing public infrastructure investment, namely distortionary and non-distortionary means of financing. The book will be of interest to scholars and policy-makers concerned with economic growth in developing countries.

Download or read book The Macroeconomic Effects of Public Investment written by Mr.Abdul Abiad and published by International Monetary Fund. This book was released on 2015-05-04 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to identify the causal effect of government investment in a sample of 17 OECD economies since 1985 and model simulations, the paper finds that increased public investment raises output, both in the short term and in the long term, crowds in private investment, and reduces unemployment. Several factors shape the macroeconomic effects of public investment. When there is economic slack and monetary accommodation, demand effects are stronger, and the public-debt-to-GDP ratio may actually decline. Public investment is also more effective in boosting output in countries with higher public investment efficiency and when it is financed by issuing debt.

Download or read book Growth Forecast Errors and Fiscal Multipliers written by Mr.Olivier J. Blanchard and published by International Monetary Fund. This book was released on 2013-01-03 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the relation between growth forecast errors and planned fiscal consolidation during the crisis. We find that, in advanced economies, stronger planned fiscal consolidation has been associated with lower growth than expected, with the relation being particularly strong, both statistically and economically, early in the crisis. A natural interpretation is that fiscal multipliers were substantially higher than implicitly assumed by forecasters. The weaker relation in more recent years may reflect in part learning by forecasters and in part smaller multipliers than in the early years of the crisis.

Download or read book Infrastructure in a Changing World written by Carlo Secchi and published by Ledizioni. This book was released on 2020-07-01 with total page 149 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a world on the brink of a global recession caused by the COVID-19 global pandemic, the infrastructure efforts of today and tomorrow are more crucial than ever.For one, they are an indispensable countercyclical tool to mitigate the negative effects of the economic paralysis.But they also constitute a pivotal component for a country’s development, raising its competitiveness in the long term. That is why infrastructure will continue to play a critical role even when the pandemic crisis has been tamed.Rapid demographic growth, increasing urbanization, especially in developing countries, coupled with the ounting challenge posed by climate change, are trends that are not going to disappear with the virus.How to cope with these global, long-term trends? How to finance the increasing need for infrastructure? Which major international actors will take the lead? And what role will technology play in shaping the future of infrastructure?

Download or read book Building Back Better How Big Are Green Spending Multipliers written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-03-19 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides estimates of output multipliers for spending in clean energy and biodiversity conservation, as well as for spending on non-ecofriendly energy and land use activities. Using a new international dataset, we find that every dollar spent on key carbon-neutral or carbon-sink activities can generate more than a dollar’s worth of economic activity. Although not all green and non-ecofriendly expenditures in the dataset are strictly comparable due to data limitations, estimated multipliers associated with spending on renewable and fossil fuel energy investment are comparable, and the former (1.1-1.5) are larger than the latter (0.5-0.6) with over 90 percent probability. These findings survive several robustness checks and lend support to bottom-up analyses arguing that stabilizing climate and reversing biodiversity loss are not at odds with continuing economic advances.

Download or read book Knowledge Transformation and Innovation in Global Society written by Hoa Van Thi Tran and published by Springer Nature. This book was released on with total page 643 pages. Available in PDF, EPUB and Kindle. Book excerpt: