public deficit, while in the second they are used in cost-reducing public investment in infrastructure. In the latter case …

Should the geographic allocation of public investment aim at reducing regional inequalities or should it exclusively be … concerned with the maximization of aggregate output? In this Paper I study the potential role of public investment in reducing … personal welfare inequality, in combination with distortionary taxation. The case for public investment as a significant …

, the government contributes directly to factor accumulation through public investment in infrastructure and other assets …. Second, public expenditure tends to crowd out private investment by reducing disposable income and the incentive to save …

This paper discusses how electoral politics shapes the regional allocation of public investment expenditures per capita … in Greece. Using regional public investment data for 10 political periods (1975-2009), combined with electoral data by … constituency, a model is proposed which captures the influence of politics on the regional distribution of public investment …

This paper estimates the impact of public investment on regional economic growth and convergence at the NUTS III level … captures not just the impact of public investment in Greek prefectures, but also the spillover effects related to the existence … of externalities from neighbouring regions. The results point to a positive long-run impact of public investment per …

Three funds are necessary to manage an oil windfall: intergenerational, liquidity and investment funds. The optimal …

This paper analyses the determinants of public expenditures allocated to investment. We perform welfare analysis in an … overlapping generations model with public consumption, public investment, debt and taxes. The optimal public investment share … depends positively on the productive contribution of public investment, and negatively on the preference for public …

The political distortions in public investment projects are investigated within the context of a bipartisan political … in government has an incentive to overspend on large ideological public investment projects in order to bind the hands of … Stability and Growth Pact, mitigates the overspending bias in ideological investment projects and improves social welfare. The …

This paper explores the implications of public investment for macroeconomic performance within a simple two …-period policymaking model. We show that under the balanced-budget rule, the contribution of public investment to future output plays a key … expenditures, the attractiveness of public investment crucially depends on the return from capital spending relative to the cost of …