"Policy-makers often call for expanding public spending on infrastructure, which includes a broad range of investments from roads and bridges to digital network

Drawing on the Fund’s analytical and capacity development work, including Public Investment Management Assessments (PIMAs) carried out in more than 60 countri

This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to identify th

Why do governments in developing economies invest in roads and not enough in schools? In the presence of distortionary taxation and debt aversion, the different