Fiscal Success: Creating Quality Infrastructure in a Post-COVID World

Abstract

Governments are engaged in unprecedented fiscal support, particularly regarding public infrastructure, as stimulus to economic recovery from the COVID-19 pandemic. It is a necessary response to increased unemployment and the collateral damage to consumer confidence and spending. Keeping people employed via nation-building projects, especially involving transport infrastructure, and their supply chains is a key objective and has the potential to deliver assets that support long-term productive capacity. Nevertheless, it is critical that public infrastructure is of appropriate quality to ensure projects are progressive, governments manage long-term benefits realization and critical resources are not wasted through hidden future liabilities. This research explores and discusses the extent of agreement between the G20 policy framework on quality infrastructure investment (process theory) against a leading project success evaluation method (process practice) by mapping both artefacts using qualitative content analysis. It is found that project success evaluation offers a ‘high’ thematic match against G20 policy ideals and therefore provides an opportunity for project managers to ensure investments in quality infrastructure are indeed realized. This contributes to progressive infrastructure outcomes that take into consideration financial, social, ethical and environmental consequences. Fiscal success is equated to project success in this context.

Analysis on the Steady Growth Effect of China’s Fiscal Policy from a Dynamic Perspective

“…Exploring what factors promote sustained economic growth has always been the focus of theoretical and practical workers. Through the literature review, the empirical evidence can be summarized as follows: First, emphasize the positive role of human and material capital investment in sustained economic growth [12][13][14][15][16][17][18][19]. At the same time, some studies also show that R & D and innovation are also important factors to promote economic growth [20][21][22][23][24].…”