The Quality of Public Investment / Shankha Chakraborty, Era Dabla-Norris.

Format:

Book

Government document

Author/Creator:

Chakraborty, Shankha.

Contributor:

Dabla-Norris, Era.

IMF Institute.

International Monetary Fund. Strategy, Policy, and Review Department.

Series:

IMF Working Papers; Working Paper ; No. 2009/154

IMF Working Papers

Language:

English

Subjects (All):

Public investments.

Economics.

Physical Description:

1 online resource (25 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2009.

Language Note:

English

Summary:

This paper develops a growth model with specialized goods where inefficient and corrupt bureaucracies interact with the provision of public investment services in affecting the productivity of private capital, specialization, and growth. The model provides potential explanations for the contradictory empirical results on the effects of public investment found in the literature as well as for the role of the quality of public infrastructure investment in creating a gap between rich and poor countries. From a policy perspective, the paper suggests that the link between public investment and growth depends critically on the quality and efficiency of public capital.

Contents:

Contents; I. Introduction; Figure 1. Infrastructure Quality vs. Control of Corruption; II. The Environment; III. General Equilibrium; IV. Discussion; A. Micro versus Macro Evidence; Table 1. Effective Output Elasticity of Public Capital; B. Accounting for Income Gaps; Table 2. Ratio of Quality-adjusted Public Capital; Table 3. Steady-State Predictions for Output Gaps; V. Conclusion; Figure 2. Multiple Equilibria in Corruption; References

Notes:

Description based upon print version of record.

Includes bibliographical references.

Description based on print version record.

ISBN:

9786612843679

9781462312382

1462312381

9781452745022

1452745021

9781451873016

1451873018

9781282843677

1282843672

OCLC:

712987822