Institutions and public investment: an empirical analysis

被引：0

作者：

Francesco Grigoli

Zachary Mills

机构：

[1] International Monetary Fund,Expenditure Policy Division, Fiscal Affairs Department

[2] World Bank,Public Sector Group, Poverty Reduction and Economic Management

来源：

Economics of Governance | 2014年 / 15卷

关键词：

Public investment; Institutions; Governance; E22; H54;

D O I：

暂无

中图分类号：

学科分类号：

摘要：

This paper investigates the effect of institutional quality on the levels, volatility and quality of public investment. Our findings suggest an inverse relationship between public investment levels and institutional quality, supporting the idea that governments use public investment as a vehicle for rent seeking. We also find that lower quality of governance increases the volatility of public investment. Finally, we provide some tentative evidence of a positive relationship between institutional quality and the quality of infrastructure. Policymakers who aim to reduce infrastructure needs through capital spending should take measures to strengthen institutional capacity to manage public investments.

引用

页码：131 / 153

页数：22

共 19 条

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