total factor productivity in the non-resource sector reduces the degree of des-investment in public capital commanded by … Factor Productivity -- Figure 5. Public Investment Management Index and Non-resource Sector Total Factor -- Figure 6 …This paper studies the optimal public investment decisions in countries experiencing a resource windfall. To do so, we …

Intro -- Contents -- I. INTRODUCTION -- II. THE PARADOX: LOW GROWTH AND HIGH INVESTMENT -- III. THE MISMEASUREMENT … STORY -- IV. LOW PRODUCTIVITY: DOES THE LEVEL OF DEBT MATTER? -- V. HIGH DEBT AND DECLINING PRODUCTIVITY: THE CASE OF …