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Enhancing economic growth and productivity through efficient public infrastructure management

In: Fiscal Accountability and Population Aging

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  • Kang-soo Kim
  • Weh-Sol Moon

Abstract

This chapter examines the public investment management (PIM) system as a significant factor in economic growth. It shows that efficient PIM is essential for high quality infrastructure, which has a positive effect on productivity. Good PIM can enhance fiscal soundness by managing risks and uncertainties in public investment because successful PIM involves identification, analysis, mitigation and management of budget deficits in public investment. The policy implications include a need for further improvement of the appraisal (ex-ante evaluation) of public investments to emphasize more economic efficiency rather than the policy aspects; a need for reliable and subjective appraisal evaluation methods to eliminate cost-ineffective projects; and governance reform that can exclude political influence from the appraisal of public investments.

Suggested Citation

  • Kang-soo Kim & Weh-Sol Moon, 2021. "Enhancing economic growth and productivity through efficient public infrastructure management," Chapters, in: Robert L. Clark & YoungWook Lee & Andrew Mason (ed.), Fiscal Accountability and Population Aging, chapter 11, pages 224-238, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:19940_11
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    Keywords

    Asian Studies; Economics and Finance;

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