List of Illustrations

1Introduction

2Fig. 1 Government Fixed Capital Formation as % of Primary Current Expenditure. : 4

3Chapter 1

4Fig. 1 Public Investment by country group (1995–2020) : 18

5Fig. 2 Public Investment in 2018 by Member States (1995–2018) : 19

6Fig. 3 Change in public expenditure composition (2018 versus 1995–2017 average) : 20

7Fig. 4 Fiscal stance in the European Union : 21

8Fig. 5 Fiscal stance and capital expenditure in the European Union : 22

9Fig. 6 Infrastructure investment by sector and promoter : 23

10Fig. 7 Change in subnational investment share by overall government investment  trend : 25

11Fig. 8 Underprovision of infrastructure by Country and Sector : 26

12Fig. 9 Infrastructure financing and infrastructure quality : 27

13Fig. 10 Independent assessment of projects and infrastructure quality : 29

14Chapter 2

15Fig. 1 General government investment rate (as a percentage of GDP). : 34

16Fig. 2 Evolution of General Government Net Wealth as a percentage of GDP : 36

17Fig. 3 Decomposition of public non-financial assets as a percentage of GDP : 37

18Fig. 4 Fixed assets by item (as a percentage of fixed assets) in 1978, 2007 and 2018 : 39

19Fig. 5 Net General Government investment by component as a percentage of GDP : 41

20Fig. 6 Net flow of non-financial assets and primary net financial flows as a  percentage of GDP : 43

21 Chapter 3

22Fig. 1 Net public investment in Germany, in percentage of GDP, 1991–2018 : 50

23Fig. 2 Net capital stock in Germany from 1991–2018, in constant prices (index, 1991  = 100) : 51

24Fig. 3 Development of various economic indicators in Germany, percentage change  2010–2017 : 52

25Fig. 4 German GDP and potential output increase, level difference in % : 58

26Fig. 5 Government debt, in percentage of GDP : 59

27Fig. 6 GDP of selected countries and euro area, deviation from baseline, level  difference in percent : 59

28Chapter 4

29Fig. 1 Enlarged PA: public capital expenditure components (%) : 66

30Fig. 2 Public capital expenditure (percentage of GDP) in Italy : 67

31Fig. 3 Public investment as percentage of GDP : 67

32Fig. 4 Public investment by PA and public companies (%) : 68

33Fig. 5 Public investment components (%) : 68

34Fig. 6 Public investment by PA levels of government and by public companies (%) : 69

35Fig. 7 Contributions to public investment growth by PA and public companies (%) : 70

36Fig. 8 Investment by public companies by sector (%) : 71

37Fig. 9 PA investment by sector (%) : 71

38Fig. 10 Per capita public investment by the PA, and per capita GDP by Italian regions  in 2016 : 73

39Fig. 11 Population, GDP and public investment by PA and public companies shares  by Italian regions in 2017 (%) : 74

40Chapter 5

41Fig. 1 Public investment effort: public investment over GDP (%) : 86

42Fig. 2 Distribution of public investment by type of asset: average for the period  2000–2017 (%) : 87

43Fig. 3 Investment (1964 = 100): total and public : 89

44Fig. 4 Public investment effort: public investment over GDP (%) : 90

45Fig. 5 Distribution of public investment by type of asset (%) : 90

46Fig. 6 Public capital ratios: over GDP (%) and population (thousand euros per  inhabitant) : 92

47Fig. 7 Distribution of public capital by type of asset (%) : 92

48 Chapter 6

49Fig. 1 Evolution of R&D intensity, 2000–2016 : 100

50Fig. 2 Evolution of public R&D intensity, 2000–2016 : 101

51Fig. 3 R&D intensity, 2000, 2007, 2016 and 2020 target : 102

52Fig. 4 Share of government budget appropriations or outlays on R&D — percentage of total general government expenditure : 102

53Fig. 5 GERD financed by sector (%), 2015 : 104

54Fig. 6 BERD, HERD and GOVERD % of GDP per Country, 2007, 2012, 2017 : 106

55Fig. 7 Structural Funds: share of funding allocated to R&I (devoted to small and medium-sized enterprise (SME) and to research); total per country : 108

56Fig. 8 Horizon 2020: average of European contribution per project and per country : 108

57Chapter 7

58Fig. 1 Employment rate, equality and welfare spending in selected OECD countries (averages 2010-2015). : 116

59Chapter 8

60Fig. 1 Distribution of EU Ten-T funds by transport mode and core corridor : 137

61Fig. 2 Distribution of EU Ten-T funds by transport mode : 138

62Fig. 3 Ratio of extra-EU and intra-EU exports, 2002–2016, and forecast to 2030 : 142

63Fig. 4 Potential Ten-T/BRI dovetailing nodes : 154

64Chapter : 10

65Fig. 1 ERDF and Cohesion Fund allocations, 2015–2017 (percentage of general government capital expenditure) : 181

66Fig. 2 Historic EU payments by NUTS-2 region and programming period (curren euro prices)t : 188