02324cas a2200289 a 4500 AALejournalIMF014827 230101c9999 xx r poo 0 0eng d 5.00 USD 9781498314954 2617-6750 BD-DhAAL BD-DhAAL Albino, Maria. Making the Most of Public Investment in MENA and CCA Oil-Exporting Countries. Arabic Making the Most of Public Investment in MENA and CCA Oil-Exporting Countries / Maria Albino, Svetlana Cerovic, Francesco Grigoli, Juan Flores. Washington, D.C. : International Monetary Fund, 2014. 1 online resource (31 pages) Staff Discussion Notes <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Over the past decade, rising oil prices have translated into high levels of public investment in most MENA and CCA oil exporters. This has prompted questions about the efficiency of public investment in generating growth and closing infrastructure gaps, as well as concerns about fiscal vulnerabilities. When public investment is inefficient, higher levels of spending may simply lead to larger budget deficits, without sufficiency increasing the quantity or quality of public infrastructure in support of economic growth. This paper examines the efficiency of public investment in the MENA and CCA oil exporters using several techniques, including a novel application of the efficiency frontier analysis, estimates of unit investment costs, and assessments of public investment processes. The analysis confirms that these oil exporters have substantial room to improve public investment efficiency. Reforms in the public financial and investment management systems are needed to achieve this objective. Mode of access: Internet Cerovic, Svetlana. Flores, Juan. Grigoli, Francesco. Staff Discussion Notes; Staff Discussion Notes ; No. 2014/010 Full text available on IMF http://elibrary.imf.org/view/journals/006/2014/010/006.2014.issue-010-ar.xml IMF e-Library