Public Investment and Public-Private Partnerships: Addressing Infrastructure Challenges and Managing Fiscal Risks (Procyclicality of Financial Systems in Asia)

The Need To Upgrade Public Infrastructure, Improve The Delivery Of Public Services, And Explore New Options For Partnering With The Private Sector Is Being Increasingly Recognized. While This Has Created Important New Business Opportunities For The Private Sector, It Has Also Given Rise To New Challenges For Governments. Having Sufficient 'fiscal Space' For Key Public Expenditure Programs That Support Economic Development, Including Public Investment, Is Essential, Even In The Context Of Tight Government Budgets. However, Public Investment, Like Other Spending, Has To Be Carried Out Within A Sustainable Macroeconomic Framework. It Also Has To Be Accompanied By Efforts To Strengthen The Efficiency Of Such Spending And To Manage The Significant Fiscal Risks That Come From New Options For Delivering Infrastructure Services, Including Via Greater Private-sector Participation. Based On The Proceedings From A High-level International Seminar For Government Officials, This Book Looks At Options To Strengthen The Efficiency Of Public Investment And Manage Fiscal Risks From Public-private Partnerships, With Important Contributions From Academics, Practitioners And Members Of Several International Organizations. -- Back Cover. Introduction / G. Schwartz, A. Corbacho & K. Funke ---- Part I. Public Investment And Fiscal Policy In Europe. 1. Public Capital And Economic Growth: Key Issues For Europe / J.de Haan, W. Romp & J.-e. Sturm --- 2. A Primer On Public Investment In Europe / E. Perée & T. Valila --- 3. Challenges For Public Investment In New Eu Member States / A. Jevcak & F. Keereman --- 4. Budgeting Of Public Investments / E. Tandberg ---- Part Ii. Fiscal Risks From Ppps. 5. Ppps And Fiscal Risks: Should Governments Worry? / A. Corbacho & G. Schwartz --- 6. Controlling Spending Commitments In Ppps / T. Irwin --- 7. Ppps And Fiscal Risks: Experience Of Portugal / R.s. Monteiro ---- Part Iii. The Institutional Environment For Ppps. 8. The Oecd Principles For Private Sector Participation In Infrastructure / H. Christiansen --- 9. Legal Regimes For Ppps In Central And Eastern Europe / A. Zverev --- 10. Combining Ppps With Eu Grants / H. Goldsmith --- 11. Managing Pfi Projects In The United Kingdom / E. Farquharson --- 12. Negotiating And Renegotiating Ppps And Concessions / L.a. Andres & J.l. Guasch ---- Part Iv. Ppp Accounting, Reporting And Auditing. 13. Ppps: Some Accounting And Reporting Issues / R. Hemming --- 14. Ipsasb: Service Concession Arrangements / M. Hathorn --- 15. Accounting For Ppps: The Eurostat Approach / P.de Rougemont --- 16. Framework For Ppp Audits In The United Kingdom / P. Leahy --- 17. Ppp Audits In Portugal / F. Machado --- 18. Hungary's Audit Experience With Ppps / G. Bager. Edited By Gerd Schwartz, Ana Corbacho, And Katja Funke. Includes Bibliographical References And Index.