Centre for Finance and Development

40 years of the Least Developed Countries Report

28 October 2024, 18:30 - 19:45 Geneva Graduate Institute Centre for Finance and Development
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40 years of the Least Developed Countries Report | IHEID Join us to celebrate the 40 years of UN Trade and Development's flagship Report on Least Developed Countries (LDCs).

Public Investment quality matters. Here are more details (and links) about a new paper with Amat Adarov titled "Public Investment Quality and its Implications for Sovereign Risk and Debt Sustainability". We introduce a novel index to measure public investment quality.

The paper highlights that not all public investments are equally productive. High-quality investments can improve fiscal fundamentals and reduce sovereign risk, while low-quality investments may lead to fiscal deterioration.

The focus is on emerging markets and developing economies (EMDEs) with significant infrastructure gaps and limited fiscal space. The study underscores the importance of efficient implementation of public investments for economic growth.

We introduce a novel index, the Public Investment Quality (PIQ) index, to assess the efficiency and effectiveness of public investments. This index uses World Bank project performance data from 120 countries between 2000-2021.
We find that high public investment is associated with lower sovereign risk and better fiscal sustainability when PIQ is high. In contrast, high public investments can lead to higher sovereign risk and increased debt levels when PIQ is low. The implications are particularly critical for low-income countries (LICs) facing high sovereign spreads, constrained fiscal capacity, and intermittent access to international capital markets. Effective public investment is crucial for fostering growth in EMDEs. The paper shows that public investment quality has non-trivial consequences for the cost of capital and macroeconomic stability. Effective public investment is crucial for fostering growth in EMDEs.

Public Investment Quality and its Implications for Sovereign This paper introduces a novel index to measure public investment quality, utilizing the World Bank’s investment project performance data from 120 countries over the period 2000-2021. After detailing

Great event for all students interested at Impact Investing!

💡Alumni Roundtable - impact investing industry
⏰22nd Feb 13:00 - 14:00 CET
💻Register --> https://bit.ly/3gPbgNI

The Graduate Institute, Geneva

Exploring a career in sustainable finance or simply curious about it? The world is increasingly shifting towards responsible finance. Learn more about the intersection of impact and capital.

The Alumni Office, in collaboration with the Geneva Impact Investing Association, Career Services and Professional Development Committee invites you to our next 'Inspire Students' session - a roundtable with our alumni who carved a niche in this sector.

Register and learn more about ‘How to break into the Impact Investing Industry?’ with the following link: https://lnkd.in/exf7UqhS

Join us this 22-2-2022 between 13:00-14:00 CET to kickstart your career in Impact Investing!