The effectiveness of public investment in infrastructure and the risks to the budgetary system

Эффективность государственных инвестиций в инфраструктуру и риски для бюджетной системы

Aleksandra Morozkina

Ekonomicheskaya Politika / Economic Policy, 2015, vol. 4, 47—59

Abstract: The problem of the effectiveness of public investment in infrastructure in Russia: causes, risks to the budget, the experience of other countries and possible ways to address this issue. First compare the cost of investment and infrastructure with the qualitative characteristics of the result, based on which concludes that low efficiency of investments in Russia in comparison with other countries. Then analyzes the reasons for this, operating at two levels: operational (high costs projects) and strategic (adoption of ineffective decisions). The third part is devoted to the influence of inefficient state investment policy on the risks to the budgetary system. In particular, the decision of the Russian government about investing the National Welfare Fund in infrastructure projects in Russia and existing experience in the implementation of major infrastructure projects. The fourth part proposes possible ways to improve the efficiency of investment and reduce the risks involved.

Keywords: public investment; infrastructure projects; fiscal risks (search for similar items in EconPapers)
JEL-codes: H4 H54 L9 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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