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A Methodological Framework for Prioritizing Infrastructure Investment / Andres, Luis.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Andres, Luis
- Series:
- Policy research working papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Banks and banking reform.
- Economic theory & research.
- Finance and financial sector development.
- Infrastructure economics and finance.
- Infrastructure priorities.
- Investment planning.
- Macroeconomics and economic growth infrastructure economics.
- Non bank financial institutions.
- Policy & planning.
- Public investment management.
- Transport.
- Transport economics.
- Local Subjects:
- Banks and banking reform.
- Economic theory & research.
- Finance and financial sector development.
- Infrastructure economics and finance.
- Infrastructure priorities.
- Investment planning.
- Macroeconomics and economic growth infrastructure economics.
- Non bank financial institutions.
- Policy & planning.
- Public investment management.
- Transport.
- Transport economics.
- Physical Description:
- 1 online resource (19 pages)
- Place of Publication:
- Washington, D.C. : The World Bank, 2015.
- System Details:
- data file
- Summary:
- Policy makers are often confronted with a myriad of factors in the investment decision-making process. This issue is particularly acute in infrastructure investment decisions, as these often involve significant financial resources and lock-in technologies. In regions and countries where the infrastructure access gap is large and pubic budgets severely constrained, the importance of considering the different facets of the decision-making process becomes even more relevant. This paper discusses the trade-offs policy makers confront when attempting to prioritize infrastructure investments, in particular with regard to economic growth and welfare, and proposes a methodological framework for prioritizing infrastructure projects and portfolios that holistically equates such trade-offs, among others. The analysis suggests that it is not desirable to have a single methodology, providing a single ranking of infrastructure investments, because of the complexities of infrastructure investments. Rather, a multidisciplinary approach should be taken. Decision makers will also need to account for factors that are often not easily measured. While having techniques that enable logical frameworks in the decision-making process of establishing priorities is highly desirable, they are no substitute for consensus building and political negotiations.
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