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Mr. Bernardin Akitoby, Mr. Gerd Schwartz, and Mr. Richard Hemming

Abstract

Over the past three decades, public spending on infrastructure, as a share of GDP, has been on the decline worldwide. Although the link between infrastructure investment and economic growth is not yet fully understood, the quality of infrastructure clearly affects a country's productivity, competitiveness in export markets, and ability to attract foreign investment. This EI explores the following questions: Should countries increase public investment in infrastructure? If the answer is yes, how can they do so in a fiscally responsible manner? Are public-private partnerships a viable alternative?

Mr. Bernardin Akitoby, Mr. Gerd Schwartz, and Mr. Richard Hemming

Abstract

Durante las últimas tres décadas, el gasto público en infraestructura, como porcentaje del PIB, ha estado disminuyendo en todo el mundo. Aunque la relación entre la inversión en infraestructura y el crecimiento económico aún no se comprende cabalmente, la calidad de la infraestructura afecta sin lugar a dudas a la productividad de un país, la competitividad en los mercados de exportación y la capacidad para atraer inversiones extranjeras. Este estudio analiza las siguientes preguntas: ¿Deberían los países aumentar la inversión pública en infraestructura? Si la respuesta es sí, ¿cómo pueden hacerlo de una manera que sea responsable desde el punto de vista fiscal? ¿Son las asociaciones público-privadas una alternativa viable?

Mr. Bernardin Akitoby, Mr. Gerd Schwartz, and Mr. Richard Hemming

Abstract

Over the past three decades, public spending on infrastructure, as a share of GDP, has been on the decline worldwide. Although the link between infrastructure investment and economic growth is not yet fully understood, the quality of infrastructure clearly affects a country's productivity, competitiveness in export markets, and ability to attract foreign investment. This EI explores the following questions: Should countries increase public investment in infrastructure? If the answer is yes, how can they do so in a fiscally responsible manner? Are public-private partnerships a viable alternative?

Mr. Bernardin Akitoby, Mr. Gerd Schwartz, and Mr. Richard Hemming

Abstract

Over the past three decades, public spending on infrastructure, as a share of GDP, has been on the decline worldwide. Although the link between infrastructure investment and economic growth is not yet fully understood, the quality of infrastructure clearly affects a country's productivity, competitiveness in export markets, and ability to attract foreign investment. This EI explores the following questions: Should countries increase public investment in infrastructure? If the answer is yes, how can they do so in a fiscally responsible manner? Are public-private partnerships a viable alternative?

International Monetary Fund

Abstract

Efforts to liberalize world trade are increasingly focusing on strengthening the links between low-income countries’ trade policies and their development strategies. However, although greater trade openness promises faster growth for poor countries, it also presents risks to those with small and undiversified economies. This pamphlet explores research by Fund staff into the nature and magnitude of these risks and proposes targeted policy solutions to ease adjustments and encourage developing countries to choose fuller participation in the world trading system.

Ms. Eva H. G. Hüpkes, Mr. Michael W Taylor, and Mr. Marc G Quintyn

Abstract

Policymakers are often reluctant to grant independence to the agencies that regulate and supervise the financial sector because of the fear that these agencies, with their wide-ranging responsibilities and powers, could become a law unto themselves. This pamphlet describes mechanisms for making regulatory agencies accountable not only to the government but also to the industry they supervise and the public at large, with examples from a range of countries.

Rupa Duttagupta, Mr. Cem Karacadag, and Mrs. Gilda C Fernandez

Abstract

A growing number of countries are adopting flexible exchange rate regimes because flexibility offers more protection against external shocks and greater monetary