Microsoft Word - 00_Title_draft.doc

1. to separate expenditure to construct infrastructures from expenditures for the acquisition of
   dwellings, other buildings, machineries and equipment^4 ;


2. to distinguish between expenditure for acquisition of new real assets and for acquisition of
   already existing real assets (simple transfer of property right);


3. to distinguish expenditure in “Grants for interest relief” (which are aimed at supporting
   private investment initiatives) from “other current subsidies on production”;


4. to identify public expenditure in PPPs initiatives;


5. to provide estimates of capital consumption in order to allow the calculation of net
   investment expenditure
   III. additional information on some financial transactions
   The inclusion of the following items (always broken-down by function) in the dataset could be
   useful:


6. capital injections (transactions in shares and other equities) into public corporations and
   quasi-corporations;


7. loans and other credits to private or public enterprises aimed at financing their investment
   and/or R&D activity.

3.2. Extension through additional modules

In the long run, it would be useful to develop some complementary additional information. What follows
is a set of possible – and always open to the discussion - areas to investigate.

a) Guarantees given by GG to support loans for private investment initiatives (the total should be the

same – or the eventual discrepancy should be explained – to that included in the EDP notification

as facultative information item);

d) Information on the whole amount of investment made through PPPs, i.e. total private and public

expenditures, where the latter are already identified in item II-4 above;

e) Expenditure of the Public Sector as a whole (including GG and corporations and quasi-

corporations owned and controlled by GG);

f) Information on GG output in volume (at constant prices) and on GG productivity (see, for

instance, the work carried out in this direction in the U.K. by T. Atkinson as described in the

(^4) It is worth noting that, as far as investment expenditures are concerned, the IMF GFS Yearbook questionnaire requests
even more information than that proposed in this paper. Table 3 of the GFS questionnaire asks for the following
breakdown (where available):
Fixed assets
Acquisitions: fixed assets
Disposals: fixed assets
Consumption of fixed capital (CFC): fixed assets
Buildings and structures
Acquisitions: buildings and structures
Disposals: buildings and structures
CFC: buildings and structures
Machinery and equipment
Acquisitions: machinery and equipment
Disposals: machinery and equipment
CFC: machinery and equipment
Other fixed assets Acquisitions: other fixed assets
Disposals: other fixed assets
CFC: other fixed assets