References
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Antov, A. 2018. Multi-Criteria Analysis for Transport Infrastructure Projects. Bucharest.
Association of Consulting Engineering Companies Canada, Canadian Construction Association, Canadian Parks and Recreation Association, and others. Canadian Infrastructure Report Card. 2019. CanadaInfrastructure.ca.
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Public investment management during the immediate crisis is discussed in Tandberg and Allen 2020.
The IMF Fiscal Affairs Department Policy Tracker provides detailed information about various countries’ different COVID-19 responses: https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19.
Other IMF documents extensively discuss policy-related aspects of public investment, such as economic growth impact, availability of fiscal space for investment, and choices between different financing modalities (IMF 2020a; IMF 2020b). Investments in human capacity (health, education, labor markets) are essential for economic development, but are beyond the scope of this paper.
The PIMA framework defines a set of good practices across all stages of the public investment cycle, namely, planning, allocation, and implementation.
The PIMA framework does not score institutional arrangements, so the first line in the table does not include specific scores.
A PIP refers to a rolling multiyear list of public investment projects that are included in a country’s MTBF.
The paper also describes tools that countries can use to better integrate planning and budgeting processes, some of which may be useful in the recovery phase.
The role of such a committee could be to (1) facilitate rapid decision-making, (2) streamline the collection and dissemination of essential information, and (3) ensure coordination and collaboration between key stakeholders for the recovery phase.
For a detailed discussion of multicriteria analysis techniques, see Antov 2018.
To simplify comparison, all indicators can be expressed as indexes. For instance, low job creation (less than 100 person-years) = 1; medium (100 –1,000 person-years) = 2; high (more than 1,000 person-years) = 3. For environmental and social impact, the range is from very negative (-3) to very positive (3).
In francophone systems, the AE/CP system includes parliamentary approval of both multiyear commitments and annual budget allocations (AE = autorisations d’engagement, CP = credits de payment).
PIMAs indicate that about half the countries assessed achieve a high score in institutional design for their procurement frameworks. However, only 10 percent of countries achieve a high score for effectiveness.
It is vital that public procurement offices publish information on all contracts concerning public infrastructure projects. Other information should also be disclosed (for example, on complaints received from suppliers regarding noncompliance with rules on open tendering).
For example, the criteria are published and adhered to, regular reports are published, transactions are subject to ex post audit, and any irregularities are dealt with through a defined process.
For instance, Ireland took a proactive approach to government dialogue with the construction industry to avoid disruption during the COVID-19 crisis: https://www.gov.ie/en/campaigns/09022006-project-ireland-2040/.
See, for instance, https://blog-pfm.imf.org/pfmblog/2020/04/-what-is-the-covid-19-crisis-impact-on-public-private-partnerships-.
A World Bank study shows that 55 percent of infrastructure investment by the private and public sectors in emerging markets and LIDCs was undertaken by state-owned enterprises (World Bank 2017).