We introduce a novel measure of cross-country road quality based on the travel mean speed between large cities from Google Maps. This measure is useful to assess road infrastructure and access gaps. Our Mean Speed (MS) score is easier to estimate and update than traditional gauges of road...

This paper presents a rationale for hybrid public-private capital structures in public utilities. The public sector can borrow money cheaper, while private investors can spawn life-cycle cost savings. When investment vehicles enable the internalization of the financial advantage of the public...

Aggregate investment has declined markedly over the crisis and has yet to recover. Reviving domestic and foreign investment is crucial to supporting the economic recovery, deepen Greece’s integration into global value chains and raising living standards. This will hinge primarily on improving...

This paper aims to analyze the fiscal sustainability (FS) of an infrastructure investment infrastructure project. This issue becomes progressively more relevant, as reinforced transport infrastructure investment, albeit being recognized as an important condition for economic growth, may drive...

This paper shows that the notion of rate of return is best understood through the lens of the average-internal-rate-of-return (AIRR) model, first introduced in Magni (2010a). It is an NPV-consistent approach based on a coherent definition of rate of return and on the notion of Chisini mean, it...

This paper provides an evaluation of the effects of privatisation on the efficiency of firms in the case of large Spanish State-Owned Enterprises that had been privatised from 1990 onward. The firms’ efficiency is approached here by financial-performance indicators, through acknowledging, on...

The author analyses the possibilities of substitution between state debt management and state property. He postulates that there are possibilities for substitution over a 2–4-year time span. In the short run, debt can be decreased by spending less on the refurbishment of physical assets, but...

Potentially, public-private partnership (PPP) can significantly improve economic efficiency by combining the strengths of the public sector and the private sector. On the other hand, poorly designed PPPs may allow private partners to make excessive profits without making meaningful...

How should government and business solve big problems? In bold leaps or in many smaller moves? We show that bespoke, one-off projects are prone to poorer outcomes than projects built on a repeatable platform. Repeatable projects are cheaper, faster, and scale at lower risk of failure. We compare...

Against the backdrop of increasing efforts of the German federal and states’ governments to open up additional private financial sources for transport infrastucture construction this paper tries to give a comprehensive overview over transport-related public expenditures and revenues of the...