Making the Most of Public Investment in Colombia

Working Effectively across Levels of Government

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This study examines the multi-level governance framework for public investment in Colombia. It provides a diagnosis of the strengths and challenges of the Colombian system and includes comparative data and a set of benchmarks to promote exchange of good practices and promote learning. It makes recommendations for how to further improve the system, make more effective use of existing resources and catch up to OECD countries in terms of infrastructure development . The review also suggests a set of indicators against which Colombia can measure its progress.



Foreword and Acknowledgements

Public investment is a shared responsibility across different levels of government – national, regional and local – which makes its governance particularly complex. In today’s tight fiscal environment, making the most of public investment across levels of government is more crucial than ever. National governments have an important role to play in establishing the framework conditions needed to better select and implement sound infrastructure projects. Subnational governments also play a specific role, although this is often neglected in the literature. Subnational governments – defined as all levels of government below the national one, i.e. administrative regions, states/provinces, counties and municipalities – are responsible for a large share of public investment: on average, around 60% in the OECD. Most of this public investment goes to infrastructure.


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