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Public Investment and Public-private Partnerships by Gerd Schwartz (Editor),Ana Corbacho (Editor),Katja Funke (Editor)
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    • Product code: 264952
    • ISBN: 0230201334, ISBN13: 9780230201330, 336 pages, hardback
      Published by Palgrave MacMillan in 2008
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    Description of Public Investment and Public-private Partnerships

    The need to upgrade public infrastructure, improve the delivery of public services, and explore new options for partnering with the private sector is being increasingly recognized. While this has created important new business opportunities for the private sector, it has also given rise to new challenges for governments. Having sufficient 'fiscal space' for key public expenditure programs that support economic development, including public investment, is essential, even in the context of tight government budgets. However, public investment, like other spending, has to be carried out within a sustainable macroeconomic framework. It also has to be accompanied by efforts to strengthen the efficiency of such spending and to manage the significant fiscal risks that come from new options for delivering infrastructure services, including via greater private-sector participation.
    Based on the proceedings from a high-level international seminar for government officials, this book looks at options to strengthen the efficiency of public investment and manage fiscal risks from public-private partnerships, with important contributions from academics, practitioners and members of several international organizations.

    Contents of Public Investment and Public-private Partnerships

    Preface
    Foreword; T.Ter-Minassian
    Introduction; G.Schwartz, A.Corbacho & K.Funke

    PART I: PUBLIC INVESTMENT AND FISCAL POLICY IN EUROPE
    Public Capital and Economic Growth: Key Issues for Europe; J.de Haan, W.Romp & J.-E.Sturm
    A Primer on Public Investment in Europe; E.Peree & T.Valila
    Challenges for Public Investment in New EU Member States; A.Jevcak & F.Keereman
    Budgeting of Public Investments; E.Tandberg
    Comments on Part I; C.Kamps & C.Rosenberg

    PART II: FISCAL RISKS FROM PPPs
    PPPs and Fiscal Risks: Should Governments Worry?; A.Corbacho & G.Schwartz
    Controlling Spending Commitments in PPPs; T.Irwin
    PPPs and Fiscal Risks: Experience of Portugal; R.S.Monteiro
    Comments on Part II; G.Kiss & M.Mrsnik

    PART III: THE INSTITUTIONAL ENVIRONMENT FOR PPPs
    The OECD Principles for Private Sector Participation in Infrastructure; H.Christiansen
    Legal Regimes for PPPs in Central and Eastern Europe; A.Zverev; Combining PPPs with EU Grants; H.Goldsmith
    Managing PFI Projects in the United Kingdom; E.Farquharson
    Negotiating and Renegotiating PPPs and Concessions; L.A.Andres & J.L.Guasch
    Comments on Part III; D.Bergvall

    PART IV: PPP ACCOUNTING, REPORTING AND AUDITING
    PPPs: Some Accounting and Reporting Issues; R.Hemming
    IPSASB: Service Concession Arrangements; M.Hathorn
    Accounting for PPPs: The Eurostat Approach; P.de Rougemont
    Framework for PPP Audits in the United Kingdom; P.Leahy
    PPP Audits in Portugal; F.Machado
    Hungary's Audit Experience with PPPs; G.Bager
    Comments on Part IV; K.Seregelyes & J.Ramallo-Massanet

    About Gerd Schwartz (Editor), Ana Corbacho (Editor) and Katja Funke (Editor)

    GERD SCHWARTZ is an Assistant Director at the International Monetary Fund. He has previously worked with the European Investment Bank and the Inter-American Development Bank, and done research on fiscal and macroeconomic policy issues, particularly expenditure policies. He holds a PhD in Economics from the State University of New York at Albany. ANA CORBACHO is a Senior Economist at the International Monetary Fund. She has done research on various fiscal and macro issues, including education policy and growth, income distribution, fiscal institutions, and public investment and PPPs. She holds a PhD in Economics from Columbia University in the City of New York. KATJA FUNKE is an Economist at the International Monetary Fund. She previously worked as an economist for the European Central Bank. Her research focuses on balance of payments issues in the European monetary union. She holds a doctoral degree in Economics from the WHU Otto Beisheim School of Management, Germany.

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