Public investments are key policy instruments used by governments in pursuing their overall development goals and strategies. Given the limited resources available to an economy, the chosen projects should fit into the overall development strategy, which usually concerns many stakeholder groups....

In this paper we develop an analytical general equilibrium framework to measure the foreign exchange premium and the premium for non-tradable outlays for a country. The framework allows us to capture in a consistent manner the impacts of the sourcing of funds and their expenditure on tradable...