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This paper introduces a new index that captures the institutional environment underpinning public investment management across four different stages: project appraisal, selection, implementation, and evaluation. Covering 71 countries, including 40 low-income countries, the index allows for benchmarking across regions and country groups and for nuanced policy-relevant analysis and identification of specific areas where reform efforts could be prioritized. Potential research venues are outlined.

Public investments. --- Government investments --- Investments, Public --- Expenditures, Public --- Investments --- Capital budget --- Economic development projects --- Investment of public funds --- Finance --- Budgeting --- Infrastructure --- Public Finance --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- National Budget --- Budget Systems --- Investment --- Capital --- Intangible Capital --- Capacity --- Public finance & taxation --- Budgeting & financial management --- Macroeconomics --- Public investment spending --- Public investment and public-private partnerships (PPP) --- Budget planning and preparation --- Public investments --- Public-private sector cooperation --- Budget --- Saving and investment --- South Africa