Journal of Economic Growth

, Volume 17, Issue 3, pp 235–266 | Cite as

Investing in public investment: an index of public investment efficiency

  • Era Dabla-Norris
  • Jim Brumby
  • Annette Kyobe
  • Zac Mills
  • Chris PapageorgiouEmail author


Pritchett (J Econ Growth 5:361–384, 2000) convincingly argued that the difference between investment cost and capital value is of first-order empirical importance especially for developing countries where public investment is the primary source of investment. This paper constructs a public investment efficiency index that captures the institutional environment underpinning public investment management across four different stages: project appraisal, selection, implementation, and evaluation. Covering 71 countries, including 40 low-income countries, the index allows for benchmarking across regions and country groups and for nuanced policy-relevant analysis and identification of specific areas where reform efforts could be prioritized. Research applications are outlined.


Public investment Public investment management Project appraisal Selection Implementation Evaluation Growth 

JEL Classification

O19 O23 O47 


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Copyright information

© Springer Science+Business Media, LLC 2012

Authors and Affiliations

  • Era Dabla-Norris
    • 1
  • Jim Brumby
    • 2
  • Annette Kyobe
    • 1
  • Zac Mills
    • 2
  • Chris Papageorgiou
    • 1
    Email author
  1. 1.International Monetary FundWashingtonUSA
  2. 2.World BankWashingtonUSA

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