scholarly journals Scenario assessment of fiscal pro-investment expansion in Ukraine

2020 ◽  
Vol 2020 (9) ◽  
pp. 80-94
Author(s):  
Serhij SHVETS ◽  
Keyword(s):  
Capital Investment ◽  
Public Investment ◽  
Additional Increase ◽  
Fiscal Multiplier ◽  
The Public ◽  
Debt Burden ◽  
Scenario Assessment ◽  
Reported Data ◽  
Investment Multiplier ◽  
Significant Factors

The article identifies the role and place of public investment as one of the significant factors of growth. As a high value of fiscal multiplier, public investment is an effective countercyclical measure to restore economic growth. The goal of the study was to estimate the aftereffect of fiscal pro-investment expansion in Ukraine without increasing the debt burden. The monetary sector should support the increased public investment financed through the domestic government borrowing by expanding the money supply at a rate exceeding the debt growth to minimize the crowding-out effect and support the real sector’s demand for credits. According to the scenario results, the limit of increased public investment in Ukraine compared to the reported data without increased debt burden during the relatively stable 2016?2019 could be 11-19%. The short-term effect of implementing such fiscal pro-investment expansion provided an additional increase in GDP by 1.3-1.8%. Every UAH borrowed by the state and directed to capital investment could add more than 4 UAH of product annually in 2017?2019, which corresponded with the public investment multiplier equal to 1.1. These growth targets may be more significant during COVID-19 crisis, as the fiscal multiplier is usually higher in recessions. Since the indicated growth rates depend on the selected strategic priorities for capital investment in facilities with the highest return, the obtained results assume the development of additional volumes of public investment in the most efficient way providing the expanding of aggregate supply in the longer term.

scholarly journals Is the Public Investment Multiplier Higher in Developing Countries? An Empirical Exploration

2019 ◽  
Author(s):  
Alejandro Izquierdo ◽  
Ruy Lama ◽  
Juan Medina ◽  
Jorge Puig ◽  
Daniel Riera-Crichton ◽  
...  
Keyword(s):  
Developing Countries ◽  
Public Investment ◽  
The Public ◽  
Investment Multiplier

scholarly journals Is the Public Investment Multiplier Higher in Developing Countries? An Empirical Investigation

2019 ◽  
Author(s):  
Alejandro Izquierdo ◽  
Ruy Lama ◽  
Juan Pablo Medina ◽  
Jorge Puig ◽  
Daniel Riera-Crichton ◽  
...  
Keyword(s):  
Developing Countries ◽  
Empirical Investigation ◽  
Public Investment ◽  
The Public ◽  
Investment Multiplier

scholarly journals HOW FAR FISCAL DOMINANCE MATTERS FOR A DEVELOPING ECONOMY

2021 ◽  
Vol 3 (38) ◽  
pp. 214-221
Author(s):  
S. Shvets
Keyword(s):  
Public Debt ◽  
Public Investment ◽  
Sustainable Growth ◽  
Investment Efficiency ◽  
Developing Economy ◽  
Growth Path ◽  
Fiscal Multiplier ◽  
The Public ◽  
Fiscal Dominance ◽  
Effective Policy

Abstract. The growing public debt that intensifies with a frequency of economic crises grasps a high rating in the current economic debates. There is an urgent need for implementing an effective policy regime targeted at handling the public debt problem. The fiscal dominance policy, usually practiced to ensure strong recovery and growth, has a strict guideline for identifying a degree of fiscal expansion and monetary accommodation. Given a dilemma between growth and debt burden, the government should mobilize the most effective policy instrument targeted at the highest fiscal multiplier and does not cross a debt-to-GDP threshold ratio. Following an effective practice of fiscal management, this instrument is associated with public investment. The paper aims to assess the magnitude of the public investment multiplier by following a stable growth path limited by a prescribed debt limitation for a developing economy. To achieve the goal, we use an elaborated New Keynesian model, which besides an active fiscal and monetary stances, also includes a high share of non-Ricardian households, the separability in preferences between private and government consumption, a low level of public investment efficiency, and the substantiated degree of nominal and real rigidities. The obtained present value cumulative output multiplier for public investment grasps the point 2.0 in maximum over two years of the impulse response function. The multiplier effect proves to be high enough to offset temporary public debt growth and maintain a sustainable growth path over the long run. The verified measure of fiscal dominance contradicts an active monetary stance and, among other things, has to be counterbalanced by an appropriate efficiency and productivity of public investment and degree of price stickiness. Keywords: fiscal policy, monetary policy, fiscal-monetary interaction, fiscal dominance, fiscal multiplier, DSGE modeling. JEL Classification O47, E63, H63, D58 Formulas: 1; fig.: 2; tabl.: 0; bibl.: 21.

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

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.

The Relevance of Energy Service Contracts in the Budget Sphere

2018 ◽  
pp. 64-68
Author(s):  
George V. Boos ◽  
Elena Yu. Matveeva
Keyword(s):  
Public Sector ◽  
Institutional Development ◽  
The Public ◽  
Debt Burden ◽  
Comprehensive Plan ◽  
Effective Implementation ◽  
Service Contracts ◽  
The Face ◽  
Energy Service ◽  
The Russian Federation

The problematic aspects related to the implementation of energy saving policy in the budget sphere are examined in the article. The factors hindering the mass and effective implementation of energysaving measures are highlighted in the article. Among these factors, there is the technical complexity of energysaving projects, the presence of innovative and investment risks, problems with the financial provision of costs in the face of increasing debt burden in most public budgets. The article concludes that in these circumstances only the energy service contract is a tool that allows implementing energy­saving measures without the first participation of budgetary funds in financing and allows transferring the risks of making technically inefficient decisions directly to the investor. In the article, the authors substantiate the importance of the institutional development of energy services directly in the public sector and analyze the measures of the comprehensive plan to improve the energy efficiency of the economy of the Russian Federation aimed at expanding the scope of energy service contracts in the public sector.

A mechanism to improve the allocation of public investment funds

2020 ◽  
Vol 26 (7) ◽  
pp. 1522-1533
Author(s):  
A.V. Larionov
Keyword(s):  
Panel Data ◽  
Random Effects ◽  
Public Investment ◽  
Allocative Efficiency ◽  
Investment Funds ◽  
The Public ◽  
Panel Data Regression ◽  
Data Regression ◽  
Efficiency And Effectiveness ◽  
Effective System

Subject. This article deals with the issue of improving the public investment allocative efficiency. Objectives. The article aims to develop an approach to improve the efficiency and effectiveness of public investment in the economy. Methods. The study is based on a panel data regression with random effects. Conclusions and Relevance. All sectors of the economy have different demand for investment resources attracted, determined by operational and technological aspects. The results of the study can be used to develop an effective system of public investment.

Cross-National Focus Group Response to Autonomous Vehicles

2021 ◽  
pp. 036119812199236
Author(s):  
Thomas A. Norton ◽  
Melissa Ruhl ◽  
Tim Armitage ◽  
Brian Matthews ◽  
John Miles
Keyword(s):  
Focus Group ◽  
San Francisco ◽  
Autonomous Vehicles ◽  
Public Investment ◽  
Public Attitudes ◽  
Total N ◽  
The Public ◽  
Form And Function ◽  
Positive Attitudes ◽  
Willingness To Use

The development of autonomous vehicles (AVs) is advancing quickly in some enclaves around the world. Consequently, AVs exist in the public consciousness, featuring regularly in mainstream media. As the form and function of AVs emerge, the attitudes of potential users become more important. The extent to which the public trusts AV technology and anticipates benefits, will drive consumer willingness to use AVs. Broadly, public attitudes will determine whether AVs can attract public investment in infrastructure and become a feature of the future transport mix or fail to realize the potential their developers assert. As part of UK Autodrive, a program trialing the introduction of AVs in the United Kingdom, researchers conducted focus groups in five UK cities, and a comparison focus group in San Francisco (December 2017 to September 2018) using representative samples (total n = 137). Focus group facilitators guided discussions in three areas considered central to usage decisions: trust in the technology, ownership models, and community benefit. This paper describes findings from a quasi-quantitative study supported with qualitative insights. This research provides three key takeaways centering on trust in the technology and in delivering benefit. First, some participants gain trust through experience and others through evidence. Second, participants had difficulty discriminating between AV developers, indicating a need for industry cooperation. Third, partnerships were found to demonstrate trust, highlighting the need for more and deeper partnerships moving forward. Generally, participants had positive attitudes toward AVs and expect AVs to provide benefits. However, these attitudes and expectations could change as AV development progresses.

scholarly journals Mapping CRISPR-Cas9 public and commercial innovation using The Lens institutional toolkit

2021 ◽  
Author(s):  
Osmat Azzam Jefferson ◽  
Simon Lang ◽  
Kenny Williams ◽  
Deniz Koellhofer ◽  
Aaron Ballagh ◽  
...  
Keyword(s):  
Public Investment ◽  
Open Data ◽  
Regulatory Elements ◽  
Policy Makers ◽  
Base Editing ◽  
The Public ◽  
Homology Directed Repair ◽  
A Genome ◽  
Institutional Capability ◽  
Cellular Dna

AbstractCRISPR-Cas9 is a revolutionary technology because it is precise, fast and easy to implement, cheap and components are readily accessible. This versatility means that the technology can deliver a timely end product and can be used by many stakeholders. In plant cells, the technology can be applied to knockout genes by using CRISPR–Cas nucleases that can alter coding gene regions or regulatory elements, alter precisely a genome by base editing to delete or regulate gene expression, edit precisely a genome by homology-directed repair mechanism (cellular DNA), or regulate transcriptional machinery by using dead Cas proteins to recruit regulators to the promoter region of a gene. All these applications can be for: 1) Research use (Non commercial), 2) Uses related product components for the technology itself (reagents, equipment, toolkits, vectors etc), and 3) Uses related to the development and sale of derived end products based on this technology. In this contribution, we present a prototype report that can engage the community in open, inclusive and collaborative innovation mapping. Using the open data at the Lens.org platform and other relevant sources, we tracked, analyzed, organized, and assembled contextual and bridged patent and scholarly knowledge about CRISPR-Cas9 and with the assistance of a new Lens institutional capability, The Lens Report Builder, currently in beta release, mapped the public and commercial innovation pathways of the technology. When scaled, this capability will also enable coordinated editing and curation by credentialed experts to inform policy makers, businesses and private or public investment.

scholarly journals AN ALTERNATIVE APPROACH TO IDENTIFY KEY INDUSTRIES: ISSUES TO SELECTION CRITERIA

2014 ◽  
Vol 15 (3) ◽  
pp. 577-598
Author(s):  
Abul Quasem Al-Amin ◽  
Abdul Hamid Jaafar
Keyword(s):  
Selection Criteria ◽  
Public Investment ◽  
Correct Identification ◽  
The Public ◽  
Study Approach ◽  
Sectoral Planning ◽  
Alternative Approach ◽  
The Subject ◽  
Key Industries ◽  
High Degree

Within a process of modeling exercise, this study aimed to understand appropriate selection criteria to identify key industries. There are many key sector identification linkage measures in the subject matter and sensitivity issue among them can be tricky because many of these measures differ only slightly but can result in outcomes that are quite dissimilar. With this background, we proposed an alternate approach that helps to resolve this issue. The proposed approach utilizes in this study by five sub-methods and high degree of the frequency of their occurrences in sub-methods to determine the key sectors. The study approach is applied to Malaysia as the public sector investment remains a large share in the national economy, like other developing countries, and the correct identification is still a challenge for sectoral planning. The experiences from this study can be used to guide appropriate public investment in Malaysia and elsewhere with similar economic forms.

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