Public Infrastructure Investment and Fiscal Sustainability in Latin America : Incompatible Goals?

Luis Carranzai ; Christian Daudeii ; Ángel Melguizoii iUniversidad San Martín de PorresiiOECD

Organisation for Economic Co-operation and Development

关键词: infrastructure;    fiscal policy;    fiscal rules;    Latin America;   

DOI  :  https://doi.org/10.1787/5kg9xf1ncvzw-en

学科分类：社会科学、人文和艺术（综合）

来源: OECD iLibrary

【 摘 要 】

Latin American countries exhibit a significant gap in infrastructure stocks, due to low and in many cases inefficient public investment, which is furthermore not compensated by private sector projects. In this paper we analyse trends in public and total infrastructure investment in six large Latin American economies, in the light of fiscal developments since the early eighties. We argue that post-crisis fiscal frameworks, notably fiscal rules which are increasingly popular in the region, should not only consolidate the recent progress towards debt sustainability, but also create the fiscal space to close these infrastructure gaps. These points are illustrated in a detailed account of recent developments in the fiscal framework and public investment in the Peruvian case.