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dc.titleOur Untapped Wealth: Toward Modern Management of Public Assets
dc.contributor.authorGarcía Mejía, Mauricio
dc.contributor.authorPareja, Alejandro
dc.contributor.authorFarias, Pedro
dc.contributor.authorKaganova, Olga
dc.contributor.authorBall, Ian
dc.contributor.authorDetter, Dag
dc.contributor.editorGarcía Mejía, Mauricio
dc.contributor.editorPareja, Alejandro
dc.contributor.editorFarias, Pedro
dc.contributor.orgunitInstitutional Capacity of the State Division
dc.coverageLatin America and the Caribbean
dc.date.available2021-11-09T00:11:00
dc.date.issue2021-11-09T00:11:00
dc.description.abstractThe value of the assets owned by Latin American and Caribbean governments could exceed half of their economic production. These assets, including everything from public buildings and infrastructure to vehicles, forests, and cultural heritage, are non-financial public assets, representing unexplored wealth that could greatly benefit the region. However, their potential to promote sustainable development, transparency, and quality of public services is often limited by a lack of effective management. This publication presents a rigorous and updated analysis of public asset management in the region along with concrete proposals to improve it. The first chapter explains the importance of efficient asset management. It presents an analytical model with the basic components of an optimal system, covering governance (policies, regulations, institutions), availability of records and information, stable financing, risk management, performance measurement, and strategic planning. Arguably, the implementation of this type of system could increase tax revenue, environmental sustainability, transparency, and quality of citizen services while promoting economic development and reducing operation and investment costs. The second chapter presents the successful case study of New Zealand, which three decades ago implemented a comprehensive reform of the accounting and financial management of its assets, allowing the country to optimize their use and valuation. The third chapter focuses on the local level of government, drawing lessons from the experiences of Boston, Copenhagen, and Hong Kong, which have been able to leverage their commercial assets to finance their investments.
dc.format.extent113
dc.identifier.doihttp://dx.doi.org/10.18235/0003775
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/Our-Untapped-Wealth-Toward-Modern-Management-of-Public-Assets.pdf
dc.identifier.urlhttps://publications.iadb.org/publications/spanish/document/Nuestra-riqueza-inexplorada-hacia-una-gestion-moderna-de-los-activos-publicos.pdf
dc.identifier.urlhttps://publications.iadb.org/publications/portuguese/document/Nossa-riqueza-inexplorada-rumo-a-gestão-moderna-de-ativos-publicos.pdf
dc.language.isoen
dc.publisherInter-American Development Bank
dc.subjectFinance
dc.subjectAsset Management
dc.subjectStrategic Management
dc.subjectInfrastructure Development
dc.subjectInvestment
dc.subjectEconomy
dc.subjectPrivate Sector
dc.subjectLeasing
dc.subjectFiscal Transparency
dc.subject.jelcodeH11 - Structure, Scope, and Performance of Government
dc.subject.jelcodeH27 - Other Sources of Revenue
dc.subject.jelcodeH54 - Infrastructures • Other Public Investment and Capital Stock
dc.subject.jelcodeH82 - Governmental Property
dc.subject.jelcodeH83 - Public Administration • Public Sector Accounting and Audits
dc.subject.jelcodeG12 - Asset Pricing • Trading Volume • Bond Interest Rates
dc.subject.jelcodeD24 - Production • Cost • Capital • Capital, Total Factor, and Multifactor Productivity • Capacity
dc.subject.jelcodeD73 - Bureaucracy • Administrative Processes in Public Organizations • Corruption
dc.subject.jelcodeE22 - Investment • Capital • Intangible Capital • Capacity
dc.subject.jelcodeL85 - Real Estate Services
dc.subject.jelcodeL32 - Public Enterprises • Public-Private Enterprises
dc.subject.jelcodeL90 - Industry Studies: Transportation and Utilities: General
dc.subject.jelcodeO43 - Institutions and Growth
dc.subject.jelcodeO54 - Latin America • Caribbean
dc.subject.jelcodeP48 - Political Economy • Legal Institutions • Property Rights • Natural Resources • Energy • Environment • Regional Studies
dc.subject.keywordsrevenue;Economy;investment management;asset management
dc.typeLearning Materials
idb.identifier.pubnumberIDB-LM-00426
idb.operationRG-T3240
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