LEADER 04926oam 22010814 450 001 9910160283203321 005 20250426110454.0 010 $a9781498381840 010 $a1498381847 010 $a9781484346617 010 $a1484346610 035 $a(CKB)3710000001025864 035 $a(BIP)077136978 035 $a(BIP)077145634 035 $a(IMF)SDNAA201410 035 $aSDNAA201410 035 $a(EXLCZ)993710000001025864 100 $a20020129d2014 uf 0 101 0 $aara 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aMaking the Most of Public Investment in MENA and CCA Oil-Exporting Countries /$fMaria Albino, Svetlana Cerovic, Francesco Grigoli, Juan Flores, Javier Kapsoli, Haonan Qu, Yahia Said, Bahrom Shukurov, Martin Sommer, SeokHyun Yoon 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2014. 215 $a1 online resource (31 p.) 225 1 $aStaff Discussion Notes 311 08$a9781498314954 311 08$a1498314953 330 3 $aOver the past decade, rising oil prices have translated into high levels of public investment in most MENA and CCA oil exporters. This has prompted questions about the efficiency of public investment in generating growth and closing infrastructure gaps, as well as concerns about fiscal vulnerabilities. When public investment is inefficient, higher levels of spending may simply lead to larger budget deficits, without sufficiency increasing the quantity or quality of public infrastructure in support of economic growth. This paper examines the efficiency of public investment in the MENA and CCA oil exporters using several techniques, including a novel application of the efficiency frontier analysis, estimates of unit investment costs, and assessments of public investment processes. The analysis confirms that these oil exporters have substantial room to improve public investment efficiency. Reforms in the public financial and investment management systems are needed to achieve this objective. 410 0$aStaff Discussion Notes; Staff Discussion Notes ;$vNo. 2014/010 606 $aAgricultural and Natural Resource Economics$2imf 606 $aCapacity$2imf 606 $aCapital investments$2imf 606 $aCapital spending$2imf 606 $aCapital$2imf 606 $aEnvironmental and Ecological Economics: General$2imf 606 $aEnvironmental management$2imf 606 $aExhaustible Resources and Economic Development$2imf 606 $aFiscal and Monetary Policy in Development$2imf 606 $aFiscal Policy$2imf 606 $aInfrastructure$2imf 606 $aIntangible Capital$2imf 606 $aInvestment$2imf 606 $aMacroeconomics$2imf 606 $aNational Government Expenditures and Related Policies: Infrastructures$2imf 606 $aNatural Resources$2imf 606 $aNatural resources$2imf 606 $aOther Public Investment and Capital Stock$2imf 606 $aPublic finance & taxation$2imf 606 $aPublic Finance$2imf 606 $aPublic investment and public-private partnerships (PPP)$2imf 606 $aPublic investment spending$2imf 606 $aPublic investments$2imf 606 $aPublic-private sector cooperation$2imf 606 $aSaving and investment$2imf 607 $aUnited States$2imf 615 7$aAgricultural and Natural Resource Economics 615 7$aCapacity 615 7$aCapital investments 615 7$aCapital spending 615 7$aCapital 615 7$aEnvironmental and Ecological Economics: General 615 7$aEnvironmental management 615 7$aExhaustible Resources and Economic Development 615 7$aFiscal and Monetary Policy in Development 615 7$aFiscal Policy 615 7$aInfrastructure 615 7$aIntangible Capital 615 7$aInvestment 615 7$aMacroeconomics 615 7$aNational Government Expenditures and Related Policies: Infrastructures 615 7$aNatural Resources 615 7$aNatural resources 615 7$aOther Public Investment and Capital Stock 615 7$aPublic finance & taxation 615 7$aPublic Finance 615 7$aPublic investment and public-private partnerships (PPP) 615 7$aPublic investment spending 615 7$aPublic investments 615 7$aPublic-private sector cooperation 615 7$aSaving and investment 700 $aAlbino$b Maria$01770359 701 $aCerovic$b Svetlana$01211197 701 $aFlores$b Juan$0192603 701 $aGrigoli$b Francesco$01127643 701 $aKapsoli$b Javier$01770360 701 $aQu$b Haonan$01770361 701 $aSaid$b Yahia$01770362 801 0$bDcWaIMF 906 $aBOOK 912 $a9910160283203321 996 $aMaking the Most of Public Investment in MENA and CCA Oil-Exporting Countries$94250544 997 $aUNINA