IDEAS home Printed from https://ideas.repec.org/p/euf/dispap/154.html
   My bibliography  Save this paper

Public Investment Management in the EU Key Features and Practices

Author

Listed:
  • Cristiana Belu Manescu

Abstract

The paper addresses the fundamental question of what makes public investment management efficient. It defines public investment as tangible and intangible fixed assets plus ordinary maintenance and repairs and distinguishes the following salient phases: strategic planning, project selection, medium-term budgeting, implementation and ex-post reviews. For each of these phases, the paper provides some examples of good practice in the EU, complemented with insights from the implementation of EU cohesion policy. Finally, the paper identifies significant data gaps both within and across EU countries.

Suggested Citation

  • Cristiana Belu Manescu, 2021. "Public Investment Management in the EU Key Features and Practices," European Economy - Discussion Papers 154, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
  • Handle: RePEc:euf:dispap:154
    as

    Download full text from publisher

    File URL: https://economy-finance.ec.europa.eu/publications/public-investment-management-eu-key-features-and-practices_en
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Bent Flyvbjerg, 2007. "Policy and Planning for Large-Infrastructure Projects: Problems, Causes, Cures," Environment and Planning B, , vol. 34(4), pages 578-597, August.
    2. Monika Sherwood, 2015. "Medium-Term Budgetary Frameworks in the EU Member States," European Economy - Discussion Papers 021, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    3. Jay-Hyung Kim & Jonas Arp Fallov & Simon Groom, 2020. "Public Investment Management Reference Guide," World Bank Publications - Books, The World Bank Group, number 33368.
    4. European Commission, 2018. "Public Assets: What's at Stake? An Analysis of Public Assets and their Management in the European Union," European Economy - Discussion Papers 089, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Cantarelli, C.C. & Flyvbjerg, B. & Buhl, S.L., 2012. "Geographical variation in project cost performance: the Netherlands versus worldwide," Journal of Transport Geography, Elsevier, vol. 24(C), pages 324-331.
    2. Love, Peter E.D. & Ika, Lavagnon A. & Ahiaga-Dagbui, Dominic D., 2019. "On de-bunking ‘fake news’ in a post truth era: Why does the Planning Fallacy explanation for cost overruns fall short?," Transportation Research Part A: Policy and Practice, Elsevier, vol. 126(C), pages 397-408.
    3. Hugo Priemus & Bert van Wee (ed.), 2013. "International Handbook on Mega-Projects," Books, Edward Elgar Publishing, number 14791.
    4. Tom Ferris & Theo Thomas, 2009. "Review of Public Investment Management Performance (PIMP) in an Economic Crisis," World Bank Publications - Reports 10532, The World Bank Group.
    5. Walker, Joan L. & Chatman, Daniel & Daziano, Ricardo & Erhardt, Gregory & Gao, Song & Mahmassani, Hani & Ory, David & Sall, Elizabeth & Bhat, Chandra & Chim, Nicholas & Daniels, Clint & Gardner, Brian, 2019. "Advancing the Science of Travel Demand Forecasting," Institute of Transportation Studies, Research Reports, Working Papers, Proceedings qt0v1906ts, Institute of Transportation Studies, UC Berkeley.
    6. Chantal C. Cantarelli & Bent Flyvbjerg, 2013. "Mega-projects’ cost performance and lock-in: problems and solutions," Chapters, in: Hugo Priemus & Bert van Wee (ed.), International Handbook on Mega-Projects, chapter 15, pages 333-355, Edward Elgar Publishing.
    7. Sylvain Lenfle & Christoph Loch, 2017. "Has Megaproject management lost its way ? Lessons from History," Post-Print hal-03640779, HAL.
    8. Chung, Demi & Hensher, David A. & Rose, John M., 2010. "Toward the betterment of risk allocation: Investigating risk perceptions of Australian stakeholder groups to public-private-partnership tollroad projects," Research in Transportation Economics, Elsevier, vol. 30(1), pages 43-58.
    9. Chiara Pancotti & Matteo Pedralli & Geert Smit & Silvia Vignetti, 2020. "Understanding transport project appraisal in its institutional dimension," Working Papers 201902, CSIL Centre for Industrial Studies.
    10. Joseph Sturm & Mashrur Chowdhury & Anne Dunning & Jennifer Ogle, 2011. "Analysis of cost estimation disclosure in environmental impact statements for surface transportation projects," Transportation, Springer, vol. 38(3), pages 525-544, May.
    11. Martijn Leijten, 2013. "Real-world decision-making on mega-projects: politics, bias and strategic behaviour," Chapters, in: Hugo Priemus & Bert van Wee (ed.), International Handbook on Mega-Projects, chapter 4, pages 57-82, Edward Elgar Publishing.
    12. Boeing, Geoff, 2021. "Spatial information and the legibility of urban form: Big data in urban morphology," International Journal of Information Management, Elsevier, vol. 56(C).
    13. David Cronin & Niall McInerney, 2024. "Institutional Quality and Official Budgetary Forecast Performance in EU Member States," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 80(2), pages 165-192.
    14. Anuja Shaktawat & Shelly Vadhera, 2021. "Risk management of hydropower projects for sustainable development: a review," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(1), pages 45-76, January.
    15. Surachman, Eko Nur & Perwitasari, Sevi Wening & Suhendra, Maman, 2022. "Stakeholder management mapping to improve public-private partnership success in emerging country water projects: Indonesia’s experience," Utilities Policy, Elsevier, vol. 78(C).
    16. Thomopoulos, N. & Grant-Muller, S. & Tight, M.R., 2009. "Incorporating equity considerations in transport infrastructure evaluation: Current practice and a proposed methodology," Evaluation and Program Planning, Elsevier, vol. 32(4), pages 351-359, November.
    17. Verweij, Stefan & van Meerkerk, Ingmar & Korthagen, Iris A., 2015. "Reasons for contract changes in implementing Dutch transportation infrastructure projects: An empirical exploration," Transport Policy, Elsevier, vol. 37(C), pages 195-202.
    18. Hoque, Jawad Mahmud & Erhardt, Gregory D. & Schmitt, David & Chen, Mei & Wachs, Martin, 2021. "Estimating the uncertainty of traffic forecasts from their historical accuracy," Transportation Research Part A: Policy and Practice, Elsevier, vol. 147(C), pages 339-349.
    19. Wasiu Olayinka FAWOLE & Burhan ÖZKAN, 2017. "Identifying the Drivers of Food Security Based on Perception among Households in South Western Nigeria," European Journal of Interdisciplinary Studies Articles, Revistia Research and Publishing, vol. 3, ejis_v3_i.
    20. Thomas Feldhoff, 2018. "Visual Representations of Radiation Risk and the Question of Public (Mis-)Trust in Post-Fukushima Japan," Societies, MDPI, vol. 8(2), pages 1-20, May.

    More about this item

    JEL classification:

    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • H82 - Public Economics - - Miscellaneous Issues - - - Governmental Property
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:euf:dispap:154. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ECFIN INFO (email available below). General contact details of provider: https://edirc.repec.org/data/dg2ecbe.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.