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Improving Public Infrastructure in the Philippines
Author:
Mr. Takuji Komatsuzaki
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Series:
IMF Working Papers
Volume/Issue:
Volume 2016: Issue 039
Language:
English
Publication Date:
29 Feb 2016
DOI:
https://doi.org/10.5089/9781513515113.001
ISBN:
9781513515113
ISSN:
1018-5941
Pages:
24
Keywords:
WP; investment; efficiency frontier; management problem; Infrastructure; Public Investment Efficiency; Philippines; crowding in; investment rate; efficiency regime; Public investment spending; Public investment and public-private partnerships (PPP); Private investment; Global
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper explores the macroeconomic effects of improving public infrastructure in the Philippines. After benchmarking the Philippines relative to its neighbors in terms of level of public capital and quality of public infrastructure, and public investment efficiency, it uses model simulations to assess the macroeconomic implications of raising public investment and improving public investment efficiency. The main results are as follows: (i) increasing public infrastructure investment results in sustained gains in output; (ii) the effects of improving public investment efficiency are substantial; and (iii) deficit-financed increases in public investment lead to higher borrowing costs that constrain output increases over time, underscoring the importance of revenue mobilization.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 2016: Issue 039