Public Infrastructure Investment and Fiscal Sustainability in Latin America [electronic resource]: Incompatible Goals? / Luis Carranza, Christian Daude and Ángel Melguizo

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Carranza, Luis

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Material type: Article

ArticleSeries: OECD Development Centre Working Papers ; no.301.Publication details: Paris : OECD Publishing, 2011.Description: 41 p. ; 21 x 29.7cmSubject(s):

Development

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Abstract: Latin American countries exhibit a significant gap in infrastructure stocks, due to low and in many cases inefficient public investment, which is furthermore not compensated by private sector projects. In this paper we analyse trends in public and total infrastructure investment in six large Latin American economies, in the light of fiscal developments since the early eighties. We argue that post-crisis fiscal frameworks, notably fiscal rules which are increasingly popular in the region, should not only consolidate the recent progress towards debt sustainability, but also create the fiscal space to close these infrastructure gaps. These points are illustrated in a detailed account of recent developments in the fiscal framework and public investment in the Peruvian case.

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Working Paper	Biblioteca Digital	Colección OECD	OECD 5kg9xf1ncvzw-en (Browse shelf(Opens below))	Not For Loan

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Latin American countries exhibit a significant gap in infrastructure stocks, due to low and in many cases inefficient public investment, which is furthermore not compensated by private sector projects. In this paper we analyse trends in public and total infrastructure investment in six large Latin American economies, in the light of fiscal developments since the early eighties. We argue that post-crisis fiscal frameworks, notably fiscal rules which are increasingly popular in the region, should not only consolidate the recent progress towards debt sustainability, but also create the fiscal space to close these infrastructure gaps. These points are illustrated in a detailed account of recent developments in the fiscal framework and public investment in the Peruvian case.

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