This paper investigates the role of fiscal guarantees in promoting infrastructure investment. Infrastructure is a critical driver of economic growth, but infrastructure entails significant up-front costs that yield benefits after a time lag. Investors hesitate to put their money down on private infrastructure ventures because of the long lag and governments do not give guarantees for reasons of fiscal prudence. The paper argues that governments and...
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INFORMATION
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2014/05/01
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Document de travail de recherche sur les politiques
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WPS6850
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1
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1
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2014/05/01
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Disclosed
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Fiscal policy as an instrument of investment and growth
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general theory of employment
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