04926oam 22010814 450 991016028320332120250426110454.09781498381840149838184797814843466171484346610(CKB)3710000001025864(BIP)077136978(BIP)077145634(IMF)SDNAA201410SDNAA201410(EXLCZ)99371000000102586420020129d2014 uf 0aratxtrdacontentcrdamediacrrdacarrierMaking the Most of Public Investment in MENA and CCA Oil-Exporting Countries /Maria Albino, Svetlana Cerovic, Francesco Grigoli, Juan Flores, Javier Kapsoli, Haonan Qu, Yahia Said, Bahrom Shukurov, Martin Sommer, SeokHyun YoonWashington, D.C. :International Monetary Fund,2014.1 online resource (31 p.)Staff Discussion Notes9781498314954 1498314953 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.Staff Discussion Notes; Staff Discussion Notes ;No. 2014/010Agricultural and Natural Resource EconomicsimfCapacityimfCapital investmentsimfCapital spendingimfCapitalimfEnvironmental and Ecological Economics: GeneralimfEnvironmental managementimfExhaustible Resources and Economic DevelopmentimfFiscal and Monetary Policy in DevelopmentimfFiscal PolicyimfInfrastructureimfIntangible CapitalimfInvestmentimfMacroeconomicsimfNational Government Expenditures and Related Policies: InfrastructuresimfNatural ResourcesimfNatural resourcesimfOther Public Investment and Capital StockimfPublic finance & taxationimfPublic FinanceimfPublic investment and public-private partnerships (PPP)imfPublic investment spendingimfPublic investmentsimfPublic-private sector cooperationimfSaving and investmentimfUnited StatesimfAgricultural and Natural Resource EconomicsCapacityCapital investmentsCapital spendingCapitalEnvironmental and Ecological Economics: GeneralEnvironmental managementExhaustible Resources and Economic DevelopmentFiscal and Monetary Policy in DevelopmentFiscal PolicyInfrastructureIntangible CapitalInvestmentMacroeconomicsNational Government Expenditures and Related Policies: InfrastructuresNatural ResourcesNatural resourcesOther Public Investment and Capital StockPublic finance & taxationPublic FinancePublic investment and public-private partnerships (PPP)Public investment spendingPublic investmentsPublic-private sector cooperationSaving and investmentAlbino Maria1770359Cerovic Svetlana1211197Flores Juan192603Grigoli Francesco1127643Kapsoli Javier1770360Qu Haonan1770361Said Yahia1770362DcWaIMFBOOK9910160283203321Making the Most of Public Investment in MENA and CCA Oil-Exporting Countries4250544UNINA