IDEAS home Printed from https://ideas.repec.org/p/imf/imfsdn/2014-010.html
   My bibliography  Save this paper

Making the Most of Public Investment in MENA and CCA Oil-Exporting Countries

Author

Listed:
  • Ms. Maria A Albino
  • Ms. Svetlana Cerovic
  • Mr. Francesco Grigoli
  • Mr. Juan C Flores
  • Mr. Javier Kapsoli
  • Mr. Haonan Qu
  • Mr. Yahia Said
  • Mr. Bahrom Shukurov
  • Mr. Martin Sommer
  • Mr. SeokHyun Yoon

Abstract

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.

Suggested Citation

  • Ms. Maria A Albino & Ms. Svetlana Cerovic & Mr. Francesco Grigoli & Mr. Juan C Flores & Mr. Javier Kapsoli & Mr. Haonan Qu & Mr. Yahia Said & Mr. Bahrom Shukurov & Mr. Martin Sommer & Mr. SeokHyun Yoo, 2014. "Making the Most of Public Investment in MENA and CCA Oil-Exporting Countries," IMF Staff Discussion Notes 2014/010, International Monetary Fund.
    • Handle: RePEc:imf:imfsdn:2014/010
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=42405
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Antonio Rojas Canela & Juan Carlos Moreno-Brid, 2022. "A New Index for Public Investment Management," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 17(1), pages 1-15, Enero - M.
    2. Kose,Ayhan & Ohnsorge,Franziska Lieselotte & Ye,Lei Sandy & Islamaj,Ergys, 2017. "Weakness in investment growth : causes, implications and policy responses," Policy Research Working Paper Series 7990, The World Bank.
    3. Levine,Paul Leslie & Melina,Giovanni & Onder,Harun & Levine,Paul Leslie & Melina,Giovanni & Onder,Harun, 2016. "Non-renewable resources, fiscal rules, and human capital," Policy Research Working Paper Series 7695, The World Bank.
    4. Amin Karimu & George Adu & George Marbuah & Justice Tei Mensah & Franklin Amuakwa-Mensah, 2017. "Natural Resource Revenues and Public Investment in Resource-rich Economies in Sub-Saharan Africa," Review of Development Economics, Wiley Blackwell, vol. 21(4), pages 107-130, November.
    5. Mostafa Amir, Sabbih, 2017. "An Assessment of the Efficacy of Delivering the Annual Development Program in Bangladesh," MPRA Paper 84668, University Library of Munich, Germany.
    6. World Bank Group, "undated". "Africa's Pulse, No. 15, April 2017," World Bank Publications - Reports 26485, The World Bank Group.
    7. García-Albán, Freddy & González-Astudillo, Manuel & Vera-Avellán, Cristhian, 2021. "Good policy or good luck? Analyzing the effects of fiscal policy and oil revenue shocks in Ecuador," Energy Economics, Elsevier, vol. 100(C).
    8. Ligia Alba Melo-Becerra & María Teresa Ramírez-Giraldo, 2023. "Transport infrastructure and technical efficiency in a panel of countries: accounting for endogeneity in a stochastic frontier model," SN Business & Economics, Springer, vol. 3(1), pages 1-18, January.

    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:imf:imfsdn:2014/010. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.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.