01720cas a2200241 a 4500 AALejournalIMF017242 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475554861 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. European Dept. Former Yugoslav Republic of Macedonia : Selected Issues. Washington, D.C. : International Monetary Fund, 2016. 1 online resource (25 pages) IMF Staff Country Reports <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 This Selected Issues paper quantifies the short- and medium-term growth effects of major ongoing highway and railway projects in the Former Yugoslav Republic of Macedonia. A standard neoclassical growth model is augmented with public capital to capture both demand and supply-side effects of public infrastructure investments. The calibrated model suggests that the four ongoing highway and railway investments of 2-3 percent of GDP annually for 2014-18 are likely to raise the growth rate of real GDP by 0.5 percentage points on average for each year in 2014-20. Enhancing public investment efficiency can increase growth effects up to 0.8 percentage points. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2016/357 Full text available on IMF http://elibrary.imf.org/view/journals/002/2016/357/002.2016.issue-357-en.xml IMF e-Library