Template-Type: ReDIF-Article 1.0
Author-Name: Andrei A. Bokarev
Author-Email: PriemnayaDep17@minfin.ru
Author-Workplace-Name: Ministry of Finance of Russian Federation, Moscow 109097, Russia
Author-Name: Olga V. Bogacheva
Author-Email: bogacheva@nifi.ru
Author-Workplace-Name: Financial Research Institute, Moscow 127006, Russia; Russian Academy of Sciences, Moscow 117997, Russia
Author-Name: Oleg V. Smorodinov
Author-Email: osmorodinov@nifi.ru
Author-Workplace-Name: Financial Research Institute, Moscow 127006, Russia
Title: Methodology Development of Efficiency Evaluation of Public Infrastructure Investment Management
Abstract: The article deals with the methodology improvement of efficiency evaluation of public infrastructure investment management after 2000. The authors claim that after the global financial crisis of 2007-2008 the traditional approach for evaluation and assessment of public investments efficiency in economic and social infrastructure based on results of each project has given a way to several new and more complex approaches. Developed by multinational corporations and multilateral organizations (World Bank, IMF, McKinsey Global Institute, etc.), such methodological approaches took into account the whole project life cycle, integration of public infrastructure investments into the budget cycle, and formation of national indices (ratings) of public investment management efficiency. The latter methodology allows to compare various countries’ public infrastructure investment management efficiency. The most recent efficiency evaluation methodology was developed and published by McKinsey Global Institute in
June 2016. This is, in fact, assessment of public infrastructure investment efficiency as an integral part of public management quality evaluation of infrastructure as a whole. The authors also claim that methodologies developed by the World Bank and IMF could be applied to self-evaluation of efficiency of public infrastructure investments in the Russian Federation. It could help Russian economy to identify and overcome “bottlenecks” on the way to sustainable economic development.
Classification-JEL: H54, G18
Keywords: public infrastructure investments, project life cycle, management quality assessment, national index of investment management efficiency
Journal: Finansovyj žhurnal — Financial Journal
Pages: 56-70
Issue: 4
Year: 2017
Month: August
File-URL: http://www.nifi.ru/images/FILES/Journal/Archive/2017/4/articles_2017_4/fm_2017_4_05.pdf
File-Format: Application/pdf
Handle: RePEc:fru:finjrn:170405:p:56-70