Search results for "Public Investment"

STREAMLINING THE BUDGET PROCESS BY PRIORITIZING PUBLIC INVESTMENT PROJECTS

2014

The substantiation of the state budget for 2014 has also considered some measures to improve budget planning activities by prioritizing public investment projects. The prioritizing approach of public investment projects in the budget process is a particularly important and complex one, involving a set of coherent and responsible evaluation, selection and prioritization activities of such projects based on a well defined prioritizing criteria and mechanism. It was started in 2012, unfortunately not as an undertaking of public decision makers in Romania, but as a requirement of the World Bank and International Monetary Fund in order to improve the budget process. The reason is the fact that n…

Gli squilibri territoriali e la distribuzione territoriale degli investimenti pubblici

2020

The well-known connection between investment, growth and development requires that a political strategy that aims to overcome ter- ritorial gaps must be based on a redistribution of public resources for investments that favor the least favored regions in an adequately effective and compensatory manner. The aim of this work is to evaluate the consequentiality of political choices in Italy over the twenty years with respect to the objective of territorial rebalancing. After introducing the topic and recalling the hypotheses of territorial convergence / divergence (sections 1 and 2), this article presents the recent empirical evidence on the territorial distribution of public expenditure in It…

BASIC RESEARCH AND DEVELOPMENT IN VERTICAL MARKETS*

2012

This paper considers the role of basic research and development (R&D) investment in vertical markets in which an incumbent owner of a basic technological input faces potential competition. We identify the conditions under which the socially optimal investment in basic research involves entry by new firms. Our main insight is that there is a role for public investment in R&D that appears to have been overlooked in the existing literature. This role draws on the idea that basic R&D adds to the credibility of the threat of the potential development of alternative technologies by reducing their implementation costs.

Public procurement: current situation and points of improvement

2015

[ES] La construcción pública ha sido, es y será uno de los pilares fundamentales del sector construcción español, si bien la actual situación de crisis económica y la reducción de la inversión pública en nuevas infraestructuras ha generado un descenso de actividad hasta niveles similares a los años noventa. El retorno a índices de actividad más elevados no solo se conseguirá con la recuperación de la economía del país, sino que será necesario realizar ciertas mejoras en los procesos de licitación con objeto de conseguir una mayor funcionalidad y flexibilidad en la contratación pública de obras.

Continuities and Discontinuities in the Economic Growth of Spain. 1850-1936

1998

The Spanish pattern of economic growth during the last two centuries is quite unique. In the nineteenth century, Spain remained outside the process of industrialization, but during the twentieth century it has joined the small group of developed economies. This article checks the possible existence of discontinuities between 1850-1936 in the series of PNB, industrial production and private and public investment by utilizing recent developments in the econometric analysis associated with the work of Perron and Ziwot and Andrews. The results confirm the continuity of the Spanish growth during the long period considered. However, they also show two breakpoint years: 1870 in the series of indus…

Public infrastructure investment and taxation: the case of transport policy in the European Union

2009

The macroeconomic effects of public investment: Evidence from advanced economies

2015

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 ou…

Impacto social de un gran evento deportivo: el Gran Premio de Europa de Fórmula 1. (Social impact of a major athletic event: The Formula 1 Grand Prix…

2012

The aim of this study was to analyse the residents´ perceptions of the impact of the Formula 1 Grand Prix of Europe after the first three races (2008, 2009 and 2010) in the city of Valencia. Therefore, we surveyed 1,065 residents to analyse their opinion of this event. Results indicate that aspects related to the economic benefits, the image, the athletic prestige, and opening the city up to the world are those which are rated the highest. However, aspects related to job creation, public investment, problems related to noise and traffic, public transportation and security, taking full advantage of and utility of infrastructure, and increase in sports practice and facilities are the worst ra…

A macroeconomic analysis of the public investments in European combined transport

2009

Intermodal transport has been recognized as a priority by the European Union, that has defined different budget allocations of investments to improve the shifting from road to intermodal transport, which is more sustainable. In this context, the main aim of the paper is to discuss the macroeconomic effects, in terms of economic growth, welfare and trade, of these public investments for combined transport, which aspects have been neglected in literature. A multi-country computable general equilibrium model has been used. The main results have been that the European Union benefits from these investments, but at international level, USA and Japan would lose in terms of welfare. Furthermore, th…

Les études hédoniques soutiennent-elles une valeur verte élevée dans le bâtiment ? Une réponse par la méta-analyse

2018

International audience; La place majeure occupée par le secteur du bâtiment dans la consommation d'énergie (40%) et les émissions de gaz à effet de serre (1/3 des émissions) explique le développement du débat scientifique axé sur la réduction de l'impact environnemental du bâtit et sur ses leviers. Ces dernières années ont notamment vu croitre une littérature considérable relative à la disposition à payer du public pour les bâtiments « verts » labélisés par des écolabels, cette « valeur verte » étant estimée dans la grande majorité des études via des modèles hédoniques. Dans cet article, nous proposons d'offrir une synthèse de ces résultats dans le cadre d'une méta-analyse portant sur plus …