Reforming public investment appraisal in Italy: a new dawn ?

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

Argomenti, 2016, vol. 3, issue 3, 1-29

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.

Keywords: Cost–Benefit Analysis; Government Policy and Regulation; Infrastructures; Project Analysis; Economic Growth (search for similar items in EconPapers)
JEL-codes: D61 G38 H54 O22 O4 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:urb:journl:v:3:y:2016:p:1-29

DOI: 10.14276/1971-8357.519

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