Enhancing economic growth and productivity through efficient public infrastructure management

Kang-soo Kim and Weh-Sol Moon

Chapter 11 in Fiscal Accountability and Population Aging, 2021, pp 224-238 from Edward Elgar Publishing

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.

Keywords: Asian Studies; Economics and Finance (search for similar items in EconPapers)
Date: 2021
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