This publication presents an investigation of the relationship between public and private investment and the focus is on the quality of public investment, its interaction with corruption, and the resulting impact on private investment.

The first part of the discussion paper examines the role of private investment in economic growth. The second part shows trends in private and public fixed investment in fifty developing countries.

The first part of the discussion paper documents tends in private and public fixed investment. The second part presents country-specific results of a 1996/97 worldwide survey of business executives. The discussion focuses on obstacles to doing business in each of the 74 countries covered...