Finance, Markets and Valuation
Not found
Title: Investment or waste? Analysis of infrastructure and major events investment in Spain
Authors: Daniel Catalá Pérez
DOI: Not found
Abstract:
Public infrastructure investments and major international events can be, without doubt, great economic drivers that trigger an enhancement of citizens’ life quality. Nevertheless, in many cases they turn out to be disastrous investments, illustrating how public money can be wasted in huge amounts. As a result, unnecessary buildings and facilities are constructed which do not cover real needs of the population. Sometimes, the facilities are over dimensioned or have very high maintenance costs which had not been considered. Unfortunately, it is not uncommon that, as time passes, it is revealed that political corruption was involved in those investments promoting the waste in order to collect more money. Given the importance that great infrastructure investments and major international events have had in Spain in the recent past, and given its considerable impact on the generation of public debt, it is highly interesting to have a notion of the aggregated cost of just the most significant investments that turned out to be a waste of money. Furthermore, it is quite illustrative to compare this cost with the money spent to cover budgetary expenses that have great significance for citizens, such as health and education.
Keywords: Not found
