Shaping successful mega-project investments
指出当前成本效益分析无法评估大型项目的转型潜力，需考虑战略互补性和政治判断，并提出新评估方法以协调公私部门投资，对政策制定者和投资者有参考价值。
Abstract Many countries are proposing major public infrastructure investment, addressing the net zero imperative and need to recover from the pandemic. Yet the investments will deliver on these policy goals only if appraisals take account of strategic complementarities in determining the future path of the economy, including technological choices. Cost–benefit analysis as currently applied is unable to do this, even when incorporating wider economic benefits. Furthermore, in purporting to be a technical tool, it fails to acknowledge the inevitable political judgements and distributional consequences involved in selecting projects. There is a need for an approach to appraisal that identifies when major projects have transformational potential, and an approach to policy that ensures complementary investments occur, by tackling coordination failures either among different policy actors or between private- and public-sector activities.