04506oam 22011654 450 991015520200332120230808200848.01-4755-5487-71-4755-5506-7(CKB)3710000000973905(MiAaPQ)EBC4771898(IMF)1MKDEA2016002(EXLCZ)99371000000097390520020129d2016 uf 0engurcnu||||||||rdacontentrdamediardacarrierFormer Yugoslav Republic of Macedonia : Selected IssuesWashington, D.C. :International Monetary Fund,2016.1 online resource (26 pages) color illustrations, color mapIMF Staff Country Reports1-4755-5486-9 Includes bibliographical references.This Selected Issues paper quantifies the short- and medium-term growth effects of major ongoing highway and railway projects in the Former Yugoslav Republic of Macedonia. A standard neoclassical growth model is augmented with public capital to capture both demand and supply-side effects of public infrastructure investments. The calibrated model suggests that the four ongoing highway and railway investments of 2–3 percent of GDP annually for 2014–18 are likely to raise the growth rate of real GDP by 0.5 percentage points on average for each year in 2014–20. Enhancing public investment efficiency can increase growth effects up to 0.8 percentage points.IMF Staff Country Reports; Country Report ;No. 2016/357Exports and ImportsimfInfrastructureimfLaborimfPublic FinanceimfNational Government Expenditures and Related Policies: InfrastructuresimfOther Public Investment and Capital StockimfInternational InvestmentimfLong-term Capital MovementsimfInvestmentimfCapitalimfIntangible CapitalimfCapacityimfIndustry Studies: Transportation and Utilities: GeneralimfDebtimfDebt ManagementimfSovereign DebtimfPublic finance & taxationimfFinanceimfMacroeconomicsimfLabourimfincome economicsimfForeign direct investmentimfPublic investment and public-private partnerships (PPP)imfPublic investment spendingimfTransportationimfBalance of paymentsimfExpenditureimfNational accountsimfInvestments, ForeignimfPublic-private sector cooperationimfPublic investmentsimfSaving and investmentimfDebts, PublicimfMacedonia (Republic)Economic conditionsNorth Macedonia, Republic ofimfExports and ImportsInfrastructureLaborPublic FinanceNational Government Expenditures and Related Policies: InfrastructuresOther Public Investment and Capital StockInternational InvestmentLong-term Capital MovementsInvestmentCapitalIntangible CapitalCapacityIndustry Studies: Transportation and Utilities: GeneralDebtDebt ManagementSovereign DebtPublic finance & taxationFinanceMacroeconomicsLabourincome economicsForeign direct investmentPublic investment and public-private partnerships (PPP)Public investment spendingTransportationBalance of paymentsExpenditureNational accountsInvestments, ForeignPublic-private sector cooperationPublic investmentsSaving and investmentDebts, PublicDcWaIMFBOOK9910155202003321Former Yugoslav Republic of Macedonia2262948UNINA