Welfare Analysis of a Fiscal Reconstruction Policy in an Overlapping Generations Economy with Public Investment

In this study I bring together two different literatures: the hierarchical education literature and the skill-biased growth literature. In an overlapping-generations model I introduce capital–skill complementarity into a hierarchical education system. I obtain results that differ qualitatively from previous studies, among which are the following: (i) At earlier stages of development, basically educated labor contributes to growth more than highly educated labor. The opposite occurs at later stages. (ii) Even when all individuals acquire higher education, a growth-enhancing policy subsidizes higher education. (iii) In a growth-enhancing policy, the share of public resources allocated to basic education declines as the economy grows. (iv) The enrollment rate evolves in an S-shaped pattern, as occurred in several OECD countries.

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The Use of Cost-Benefit Analysis for Evaluating Efficiency of Public Investment Projects (The Case of Sochi-2014 Winter Olympic Games)

Voprosy Ekonomiki ◽

10.32609/0042-8736-2011-11-57-78 ◽

2011 ◽

pp. 57-78

Author(s):

I. Pilipenko

Keyword(s):

Net Present Value ◽

Olympic Games ◽

Cost Benefit Analysis ◽

Public Investment ◽

Cost Benefit ◽

Investment Efficiency ◽

Benefit Analysis ◽

Step Method ◽

Investment Projects ◽

The Usa

The paper analyzes shortcomings of economic impact studies based mainly on input- output models that are often employed in Russia as well as abroad. Using studies about sport events in the USA and Olympic Games that took place during the last 30 years we reveal advantages of the cost-benefit analysis approach in obtaining unbiased assessments of public investments efficiency; the step-by-step method of cost-benefit analysis is presented in the paper as well. We employ the project of Sochi-2014 Winter Olympic and Paralympic Games in Russia to evaluate its efficiency using cost-benefit analysis for five accounts (areas of impact), namely government, households, environment, economic development, and social development, and calculate the net present value of the project taking into account its possible alternatives. In conclusion we suggest several policy directions that would enhance public investment efficiency within the Sochi-2014 Olympics.

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Evaluation of the impact of public investment programs on social and economic performance of territories

Voprosy Ekonomiki ◽

10.32609/0042-8736-2019-1-109-123 ◽

2019 ◽

pp. 109-123

Author(s):

I. E. Limonov ◽

M. V. Nesena

Keyword(s):

Bayesian Modeling ◽

Positive Impact ◽

Public Investment ◽

Difference In Differences ◽

The Public ◽

Export Activity ◽

Regional Investment ◽

The Difference ◽

The Impact ◽

Development Institution

The purpose of this study is to evaluate the impact of public investment programs on the socio-economic development of territories. As a case, the federal target programs for the development of regions and investment programs of the financial development institution — Vnesheconombank, designed to solve the problems of regional development are considered. The impact of the public interventions were evaluated by the “difference in differences” method using Bayesian modeling. The results of the evaluation suggest the positive impact of federal target programs on the total factor productivity of regions and on innovation; and that regional investment programs of Vnesheconombank are improving the export activity. All of the investments considered are likely to have contributed to the reduction of unemployment, but their implementation has been accompanied by an increase in social inequality.

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