Title Making the most of public investment in MENA and CCA oil-exporting countries / Maria Albino-War [and others]

Published [Washington, D.C.] : International Monetary Fund, ©2014

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Description 1 online resource (33 pages) : color illustrations Series IMF staff discussion note ; SDN/14/10 IMF staff discussion note ; SDN/14/10. Summary Over the past decade, rising oil prices have translated into high levels of public investment in most MENA and CCA oil exporters. This has prompted questions about the efficiency of public investment in generating growth and closing infrastructure gaps, as well as concerns about fiscal vulnerabilities. When public investment is inefficient, higher levels of spending may simply lead to larger budget deficits, without sufficiency increasing the quantity or quality of public infrastructure in support of economic growth. This paper examines the efficiency of public investment in the MENA and CCA oil exporters using several techniques, including a novel application of the efficiency frontier analysis, estimates of unit investment costs, and assessments of public investment processes. The analysis confirms that these oil exporters have substantial room to improve public investment efficiency. Reforms in the public financial and investment management systems are needed to achieve this objective Notes "November 2014." "Middle East and Central Asia Department." "Fiscal Affairs Department." Bibliography Includes bibliographical references (pages 31-33) Notes Online resource; title from PDF title page (IMF Web site, viewed November 24, 2014) Subject Public investments -- Middle East Public investments -- Africa, North Public investments -- Caucasus Public investments -- Asia, Central Petroleum industry and trade -- Economic aspects -- Middle East Petroleum industry and trade -- Economic aspects -- Africa, North Petroleum industry and trade -- Economic aspects -- Caucasus Petroleum industry and trade -- Economic aspects -- Asia, Central Petroleum industry and trade -- Economic aspects Public investments North Africa Central Asia Caucasus Middle East Form Electronic book Author Albino-War, Maria. International Monetary Fund. Middle East and Central Asia Department. International Monetary Fund. Fiscal Affairs Department. ISBN 9781498386111 1498386113 9781484346617 1484346610 9781498386043 1498386040

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