This paper finds that better Public Investment Management enhances public infrastructure quality and economic growth, and pinpoints key institutional reforms needs to boost public investment efficiency and productivity. In doing so, the paper links recent macroeconomic studies regarding the connection between public investment and growth (e.g., IMF 2014c) and microeconomic analysis of the relationship between PIM practices and project-level performance (e.g., Flyvbjerg 2009; and Rajaram and others, 2014). This paper s findings and recommendations are based on a new comprehensive data set on trends in public investment, infrastructure quality, productivity, and growth, and two analytical innovations: (i) a new cross-country Public Investment Efficiency Index (PIE-X); and (iii) a new Public Investment Management Assessment (PIMA) which is applied to countries across a range of income levels. Publication Date: 11.06.2015
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