The emergence of substantial fiscal deficits and a large build up of government debt in major advanced economies will inevitably lead to a period of fiscal consolidation in coming years. In an earlier paper, McKibbin and Stoeckel (2010) explored the effects of this fiscal adjustment in advanced...

The chapter is devoted to the factors aimed at optimizing the partnership of public and private sectors in the sphere of public infrastructure development. In modern conditions of economic slowdown and budget consolidation in Russia, the infrastructure has become the most important driver of...

As matters now stand, the planned investment in transport infrastructure cannot accomodate the growth in demand that will result from increased flows of traffic. Moreover, such investment has a whole range of effects on regional development, wealth distribution, and public well-being. The need...