This paper introduces a novel index to measure public investment quality, utilizing the World Bank’s investment project performance data from 120 countries over 2000–21. After detailing the construction of the index, the paper examines how public investment quality influences the relationship between the level of public investment and sovereign risk. The findings show that high levels of public investment are linked to lower sovereign risk in countries...
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详细
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2024/08/21
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政策研究报告
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WPS10877
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1
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2024/08/21
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Disclosed
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Public Investment Quality and Its Implications for Sovereign Risk and Debt Sustainability