top of page
Asian Institute of Research, Journal Publication, Journal Academics, Education Journal, Asian Institute
Asian Institute of Research, Journal Publication, Journal Academics, Education Journal, Asian Institute

Law and Humanities
Quarterly Reviews

ISSN 2827-9735

Judge Gavel
 Scales of Justice
City Crowds
People in Library
open access

Published: 12 October 2023

A Literature Review of Public Investment Capital Management in Infrastructure Construction

Duc Toan Do

Vietnam National University

asia institute of research, journal of education, education journal, education quarterly reviews, education publication, education call for papers
pdf download

Download Full-Text Pdf



Pages: 1-15

Keywords: Public Investment Capital, Infrastructure Construction, Bibliometrics


The article conducts a literature review on the topic of public investment capital management in economic infrastructure construction. Using the bibliometrics method, the author has compiled and analyzed 383 studies to get an overall picture of this topic. Conclusions are drawn based on the following criteria: keywords, author, country, journal, and citations; The results obtained from the literature review show that this is a topic receiving great attention among researchers and retaining. There are two new research trends that the author noticed. First, to delve into theoretical research on public investment capital management, thereby making policy recommendations for governments. Second, to research the management of public investment capital in large projects in specific countries, thereby providing approval, implementation and strict control of public investment capital.


Argimon, I., Gonzalez-Paramo, J.M., & Roldan, J.M. (1997). Evidence of public spending crowding out from a panel of OECD countries. Applied Economics, 29 (8), 1001-1010.
Aschauer, D.A. (1989). Is public expenditure productive? Journal of Monetary Economics, 23 (2), 177-200.
Aschauer, D.A. (1989). Does public capital crowd out private capital? Journal of Monetary Economics, 24(2), 171-188.
Ampofo, GMK, Jinhua, C., Bosah, P.C., Ayimadu, E.T., & Senadzo, P. (2021). Nexus between total natural resource rents and public debt in resource-rich countries: A panel data analysis. Resources Policy, 74, 102276.
Barro, R. J. (1990). Government spending in a simple model of endogenous growth. Journal of political economy, 98 (5, Part 2), S103-S125.
Berechman, J., Ozmen, D., & Ozbay, K. (2006). Empirical analysis of transportation investment and economic development at state, county, and municipal levels. Transportation, 33, 537-551.
Breunig, C., & Busemeyer, M.R. (2012). Fiscal austerity and the trade-off between public investment and social spending. Journal of European Public Policy, 19 (6), 921-938.
Baum, A., Mogues, T., & Verdier, G. (2020). Getting the most from public investment. Well spent: How strong infrastructure governance can end waste in public investment, 30-49.
Chatterjee, S., Sakoulis, G., & Turnovsky, S.J. (2003). Unilateral capital transfers, public investment, and economic growth. European Economic Review, 47 (6), 1077-1103.
De Renzio , P., Andrews, M., & Mills, Z. (2011). Does donor support for public financial management reforms in developing countries work? An Analytical Study of Quantitative Cross-Country Evidence. London: Overseas Development Institute (ODI).
Cavallo, E., & Daude, C. (2011). Public investment in developing countries: A blessing or a curse? Journal of Comparative Economics, 39 (1), 65-81.
Dabla-Norris, E., Brumby, J., Kyobe, A., Mills, Z., & Papageorgiou, C. (2012). Investing in public investment: an index of public investment efficiency. Journal of Economic Growth, 17, 235-266.
Easterly, W., & Rebelo, S. (1993). Fiscal policy and economic growth. Journal of Monetary Economics, 32 (3), 417-458.
Everhart, SS, & Sumlinski, MA (2001). Trends in private investment in developing countries: statistics for 1970-2000 and the impact on private investment of corruption and the quality of public investment (Vol. 44). World Bank Publications.
Fedderke, J. W., Perkins, P., & Luiz, J. M. (2006). Infrastructural investment in long-run economic growth: South Africa 1875–2001. World Development, 34 (6), 1037-1059.
Hauser, J., Tellis, G. J., & Griffin, A. (2006). Research on innovation: A review and agenda for marketing science. Marketing Science, 25 (6), 687-717.
Hopland, A.O., & Kvamsdal, S. (2023). Investments and maintenance spending for public facilities: what do we know and what do we want to know. Property Management.
Gupta, S., Davoodi, H., & Alonso-Terme, R. (2002). Does corruption affect income inequality and poverty? Economics of Governance, 3, 23-45.
Giannini, B., & Oldani, C. (2022). Asymmetries in the sustainability of public debt in the EU: The use of swaps. The Journal of Economic Asymmetries, 26, e00248.
Khan, MS, & Kumar, MS (1997). Public and private investment and the growth process in developing countries. Oxford bulletin of economics and statistics, 59(1), 69-88.
Kim, K. (2021). Indonesia's restrained state capitalism: Development and policy challenges. Journal of Contemporary Asia, 51 (3), 419-446.
Lall, SV (2007). Infrastructure and regional growth, growth dynamics and policy relevance for India. The Annals of Regional Science, 41, 581-599.
Lee, Simon. "Public investment". Encyclopedia Britannica, 9 Jan. 2019, Accessed 15 July 2023.
Copy Citation.
Langston, C., & Crowley, C. (2022). Fiscal success: Creating quality infrastructure in a post-COVID world. Sustainability, 14 (3), 1642.
Manescu, C.B. (2021). Public Investment Management in the EU Key Features and Practices (No. 154). Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
Moreno, R., & López-Bazo, E. (2007). Returns to local and transport infrastructure under regional spillovers. International Regional Science Review, 30 (1), 47-71.
Marcelo, D., Mandri-Perrott, C., House, S., & Schwartz, J. (2016). Prioritizing infrastructure investment: a framework for government decision making. World Bank Policy Research Working Paper, (7674).
Miyamoto, H., Gueorguiev, N., Honda, J., Baum, A., Walker, S., Schwartz, G., ... & Verdier, G. (2020). Growth impact of public investment and the role of infrastructure governance. International Monetary Fund, Washington, DC.
Makohon, V. (2021). Fiscal policy as a component of economic development. University Economic Bulletin, (49), 149-155.
Pujadas, P., Pardo-Bosch, F., Aguado-Renter, A., & Aguado, A. (2017). MIVES multi-criteria approach for the evaluation, prioritization, and selection of public investment projects. A case study in the city of Barcelona. Land Use Policy, 64, 29-37.
Rajaram, A., Le, T.M., Biletska, N., & Brumby, J. (2010). A diagnostic framework for assessing public investment management. World Bank policy research working paper, (5397).
Ramirez, M.D., & Nazmi, N. (2003). Public investment and economic growth in Latin America: An empirical test. Review of Development Economics, 7 (1), 115-126.
Savastano, S., & Scandizzo, P.L. (2009). Optimal farm size in an uncertain land market: the case of Kyrgyz Republic. Agricultural Economics, 40, 745-758.
Sahoo, P., & Dash, R.K. (2009). Infrastructure development and economic growth in India. Journal of the Asia Pacific economy, 14 (4), 351-365.
Turnovsky, S.J. (1997). International macroeconomic dynamics. MIT Press.
Ter-Minassian, T., Hughes, R., & Hajdenberg, A. (2008). Creating sustainable fiscal space for infrastructure: The case of Tanzania.
Vasilakos, N., Pitelis, A.T., Horsewood, N., & Pitelis, C. (2023). Place-based public investment in regional infrastructure, the locational choice of firms and regional performance: the case of India. Regional Studies, 57 (6), 1055-1068.
Van Eck, N.J., & Waltman, L. (2014). Visualizing bibliometric networks. In Measuring scholarly impact: Methods and practice (pp. 285-320). Cham: Springer International Publishing.
Warnke, D.W., Terre, N.C., & Ameiss, A.P. (1973). A methodology for determining public investment criteria. Socio-Economic Planning Sciences, 7 (4), 317-326.

bottom of page