Transylvanian Review of Administrative Sciences | 2026
Authors: Mihai R.; Lazăr D.T.
DOI: 10.24193/tras.77E.5
Journal: Transylvanian Review of Administrative Sciences
Year: 2026
Publisher: Babes-Bolyai University
Document Type: Article
Open Access: All Open Access; Gold Open Access; Green Open Access
Cited by: 0
This article reviews the factors that influence Public Investment Management (PIM) and examines their critical role in long-term benefits of the governmental investments. They are essential for fueling demand, fostering innovation, and addressing market failures. The article draws on a critical analysis of academic theories and institutional literature including Keynesian economics, Endogenous Growth Theory, Public Goods Theory, and Human Capital Theory and demonstrates the importance of public investments to generate multiplier effects and long-term productivity gains. It also provides an examination of the PIM determinants, addressing strategic and operational dimensions. Key determinants analyzed include institutional capacity and governance, project appraisal and selection, risk management and uncertainty mitigation, procurement and contract management, political economy and technical capacity. The analysis identifies bottlenecks and enablers of the processes and the importance of these factors for achieving long-term impact. Ultimately, the article discusses that the key determinants affect the efficiency, resilience and fairness of public investments and improving PIM effectiveness requires technical reforms and a systemic rethinking of the quality of its governance and delivery. © 2026, Babes-Bolyai University. All rights reserved.
governance; institutional capacity; policy coherence; Public Investment Management; public sector reform