engleski

Integrated system of financing public investment

Despite the fact that consequences of the latest global financial crisis are still present, the potentials of financing large public investment needs are constantly growing. However, the abundance of financial resources is not sufficient conditions for public investment to occur and more over to be efficient contribution to the economic development. The myriad of financial options ranging from traditional models dominated by credit to alternative models of financing in form of different public-partnership arrangements make the public decision-maker fuzzy about choosing the most efficient financing source. In addition, fiscal consolidation efforts, changes in international accounting rules, implementation of long-life cycle concepts of public investment and large supranational and national subsidies available, make the public investment realisation complex and actually limit its growth potentials. The paper presents integrated model of public investment financing which entails key before mentioned factors and enables full realisation of investment potentials across all levels of government. Such approach results in enhancing economic growth, standard of public services and lowers the level of public debt.

integrated system of financing, public investment, public debt, public-private partnerships

nije evidentirano