Development, Restructuring of Public Spending and Public-private Partnerships [Desenvolvimento, reestruturação da despesa pública e parcerias público-privadas] [Desarrollo, reestructuración del gasto público y alianzas público-privadas]

This paper analyzes the welfare effects of improvements in investment in education and infrastructure with public-private participation, in a fiscal framework of a small and open economy for the Colombian economy. A DSGE model is built where families make decisions on human capital and the government finances megaprojects by placing infrastructure bonds. The results suggest greater effects in the long-term adjustment and improvements in social welfare when public spending is focused on sectors with higher levels of employment and technological and innovation improvements are introduced. © 2018, Universidad Externado de Colombia. All rights reserved.

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