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Reforming public investment appraisal in Italy: a new dawn ?

Author

Listed:
  • Piero Rubino

    (Università di Roma “Tor Vergata†. CEIS, Facoltà di Economia)

Abstract

Public investments have been hit hard worldwide by the budgetary constraints aimed at mitigating the impact of the financial crisis. Recent studies carried out by prominent research institutions have shown the adverse effects on output growth of a shortfall in public infrastructure. To commit resources to public infrastructure is essential to select public projects capable of delivering quality and cost-effective services as to increase total productivity path. A crucial step is to engage in feasibility assessments prior to expenditure decisions. The recent overhauling of the appraisal for public investment enacted in Italy is consistent with this goal. The paper briefly discusses strengths and weaknesses of the new framework.

Suggested Citation

  • Piero Rubino, 2016. "Reforming public investment appraisal in Italy: a new dawn ?," Argomenti, University of Urbino Carlo Bo, Department of Economics, Society & Politics, vol. 3(3), pages 1-29, January-A.
    • Handle: RePEc:urb:journl:v:3:y:2016:p:1-29
    DOI: 10.14276/1971-8357.519
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    More about this item

    Keywords

    Cost–Benefit Analysis; Government Policy and Regulation; Infrastructures; Project Analysis; Economic Growth;
    All these keywords.

    JEL classification:

    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • O22 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Project Analysis
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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