EIB Papers Volume 13. n°1/2008 - European Investment Bank

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148 Volume13 N°1 2008 EIB PAPERS Eurostat (2007). Online database. http://epp.eurostat.cec.eu.int/ Feldman, R. and Watson, C. M. (2002). Into the EU: Policy frameworks in Central Europe, International Monetary Fund, Washington, D.C., USA. Fitch Ratings (2007). Complete Sovereign Rating History. http://www.fitchratings.com/shared/sovereign_ratings_history.pdf Guasch, J.L. (2004). Granting and renegotiating infrastructure concessions: Doing it right, World Bank, Washington, D.C., USA. Hallet, M. and Keereman, F. (2005). “Budgetary transfers between the EU and the new member states: Manna from Brussels or a fiscal drag?” ECFIN Country Focus, 2(2). Heald, D. (2003). “Value for money tests and accounting treatment in PFI schemes”. Accounting, Auditing and Accountability Journal, (16:3), pp. 342-371. IMF (International Monetary Fund) (2005). “Public investment and fiscal policy – Lessons from the pilot country studies”. SM/05/118, International Monetary Fund, Washington, D.C., USA. IMF (2006a). World Economic Outlook database. IMF (2006b). “Bulgaria: Selected Issues and Statistical Appendix”. Country Report No. 06/299. IMF (2006c). “Romania: Selected Issues and Statistical Appendix”. Country Report No. 06/169. IMF (2006d). “Republic of Slovenia: Selected Issues”. Country Report No. 06/250. IMF (2007). “Czech Republic: Selected Issues”. Country Report No. 07/85. Jevčák, A. and Keereman, F. (2008). “Challenges for public investment in new EU member states”, in Schwartz, G., Corbacho, A., and Funke, K. (eds.), Strengthening public investment and managing fiscal risks from Public-Private Partnerships, Palgrave MacMillan, London, UK, pp. 36-60. Kopits, G. and Székely, I.P. (2002). “Fiscal policy challenges of EU accession for Central European accession countries”. Paper presented to the OeNB East-West Conference (November 3 to 5), Vienna, Austria. Perée, E. and Välilä, T. (2005). “Fiscal Rules and Public Investment”. European Investment Bank, Economic and Financial Report 2005/02. Rosenberg, C.B. and Sierhej, R. (2007). “Interpreting EU funds data for macroeconomic analysis in the new member states”. IMF Working Paper No. 07/77. Schadler, S., Mody, A., Abiad, A., and Leigh, D. (2007). “Growth in the Central and Eastern European countries of the European Union”. IMF Occasional Paper No. 252. Schwartz, G., Corbacho, A., and Funke, K. (eds.) (2008). Strengthening public investment and managing fiscal risks from Public-Private Partnerships, Palgrave MacMillan, London, UK.
Sommer, M. (2003). “Financial and fiscal implications of EU accession”, International Monetary Fund, mimeo. Sturm, J.E., Kuper, G. K., and de Haan, J. (1998). “Modelling government investment and economic growth on a macro level: A review”, in Brakman, S., van Ees, H., and Kuipers, S. (eds.), Market behaviour and macroeconomic modelling, Macmillan, London, UK. Turrini, A. (2004). “Public investment and the EU fiscal framework”. European Commission, Directorate- General for Economic and Financial Affairs, Economic Papers No. 202. World Bank (2004). Investment Climate Survey database. http://www.worldbank.org World Bank (2005). World Development Indicators database. http://www.worldbank.org World Bank (2007). Private Participation in Infrastructure database. http://ppi.worldbank.org/ EIB PAPERS Volume13 N°1 2008 149
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EIB Papers • Volume 13 • No1
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Volume 13 • No1 • 2008 EIB Pape
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Preface This year the European Inve
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Infrastructure investment, growth a
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Government investment is not the sa
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Different types of government inves
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Infrastructure accounts for one-thi
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A common feature for the new member
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The share of transport in governmen
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The proxies are subject to caveats.
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The shares of infrastructure and ho
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There have been marked differences
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Government transport investment has
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Transport and other infrastructure
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References 54 Volume13 N°1 2008 EI
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In some countries a shock to public
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The analysis accounts for long-run
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Table 1. Some VAR studies (publishe
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The ratio of private capital to GDP
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Denmark 68 Volume13 N°1 2008 EIB P
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There is no systematic pattern for
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High variability of the public-capi
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Has the impact of public capital on
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Productivity of public capital incr
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The impact of public capital on out
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References 80 Volume13 N°1 2008 EI
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The economic cost of public funds c
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Most taxes are distortionary in tha
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The excess burden of taxation is du
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While distorting taxes lead to a we
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The modified approach suggests that
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Page 126 and 127: Where fiscal positions were sound,
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Page 130 and 131: Despite progress, infrastructure de
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