Public Investment Management and Public-Private Partnerships

While there is consensus around the centrality of public investment to growth and social welfare, there remain for many developing countries concerns about the inefficiency of public investment projects, the inability of governments to create value-for-money assets, the lack of clear champions to push forward an agenda to improve public investment management, and the complexities of managing the involvement of the private sector in public investment, especially through publicprivate partnerships (PPPs). The management of public investment, like all public resource allocation through public financial management (PFM) systems, can be viewed through the lens of the commonly agreed level one, two and three objectives of PFM, namely aggregate fiscal management and control, efficiency in the allocation of resources, and technical efficiency. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.