nep-ppm New Economics Papers
on Project, Program and Portfolio Management
Issue of 2023‒01‒16
six papers chosen by
Arvi Kuura
Tartu Ülikool

  1. The Externality of Public Housing Projects: The Case of the Mehr Housing Project in Iran By Saeed Tajrishy; Mohammad Vesal
  2. Aid and Child Health: Local Effects of Aid on Stunting in Malawi By Durevall, Dick; Isaksson, Ann-Sofie
  3. Egypt’s National Road Project: Assessing the Economic Impacts of the Upgraded Transportation Network By Dina N. Elshahawany; Eduardo A. Haddad; Michael L. Lahr
  4. IFAD11 Impact Assessment Report By IFAD
  5. Developing Environmentally Friendly Solutions for On-Demand Food Delivery Service By Hao, Peng; Liu, Haishan; Liao, Yejia; Boriboonsomsin, Kanok; Barth, Matthew J
  6. Crowdfunding and Bank Financing: Substitutes or Complements? By Miglo, Anton

  1. By: Saeed Tajrishy (Sharif University of Technology); Mohammad Vesal (Sharif University of Technology)
    Abstract: Public housing projects are hotly debated, especially due to their impact on neighboring properties. This impact is theoretically ambiguous; public housing projects could enhance local amenities through agglomeration externalities or direct government provision, however, the concentration of low-income households could trigger negative spillovers. The expansion of the housing stock is also an important channel for large projects. While the impact of public housing projects is wellstudied in developed countries, to the best of our knowledge, there is no rigorous empirical study on developing countries. In this paper, we study a large public housing project known as the Mehr housing project in Iran that facilitated the construction of two million affordable apartments, making it the largest public housing project in the world. We use the exact delivery date of Mehr units and their postal region to set up a difference-in-differences strategy. Using the universe of house transactions for 19 large cities in Iran between 2010 and mid-2019, we compare house price changes in Mehr postal regions to non-Mehr ones before and after Mehr units were delivered. Our results show that Mehr units lowered house prices in the same postal region by around 11 percent (significant at five percent). This effect is robust to controlling for city by time fixed effects, differential trends for suburbs, and regions with higher initial property values. We also provide suggestive evidence on the role of disamenity effects by looking at the heterogeneity of results across different house types and cities over time. Finally, we find a significant positive effect of available schools in the Mehr postal region that fits well with the amenity story.
    Date: 2021–11–20
  2. By: Durevall, Dick (Department of Economics); Isaksson, Ann-Sofie (Department of Economics, University of Gothenburg)
    Abstract: Motivated by a recent setback in the fight against child malnutrition, this study explores whether aid projects help to reduce stunting, or impaired growth, among children in the local area. Focusing on Malawi, a country with very high stunting prevalence and for which we have access to geo-referenced data on aid projects from a broad range of donors, we geographically match spatial data on 778 aid project sites of 22 different donors with anthropometric and background data on 26, 604 children under the age of 5. To identify the effect of aid, we rely on spatial and temporal variation in aid project coverage and survey rollout, coupled with variation in childbirth years in relation to project start. The empirical results consistently indicate a positive impact of early life aid exposure on child growth. The positive treatment effect materializes already for children born in the early project implementation phase and lasts for children born up to 3 years after project start and is seemingly driven primarily by multilateral aid and projects focusing on rural development, vulnerability, infrastructure, and education.
    Keywords: Aid; Stunting; Malnutrition; Child health; Malawi; Africa
    JEL: F35 I15 O12 O15
    Date: 2022–12–16
  3. By: Dina N. Elshahawany (Zagazig University); Eduardo A. Haddad; Michael L. Lahr
    Abstract: In 2014, Egypt started its national road project. This project is one of the greatest achievements in the history of Egyptian roads, and perhaps even all infrastructures. It is designed to connect the country's governorates through a 30% expansion of the existing 23, 500 km network of roads. Its costs are currently estimated at $9.8 billion. There are now about two-thirds of the National Roads Project plans; another 1, 300 km is still under construction. Another 1, 200 km will be built in the near future. The project has enhanced accessibility across the country enriching the opportunity for further expansion into industrial, agricultural and urban areas. Measuring the project's economic impacts would emphasize the project's importance and allow for better targeting of new road projects. In this paper, we explore how the National Road Project likely changed the country's economy at both the national and regional levels. We do this by applying the Computable Spatial General Equilibrium (SCGE) model in Egypt. We found that the project revitalized the national economy by engaging deeply in some of Egypt's least developed governorates. The increased accessibility brought by the corridor has translated into positive efficiency gains at the national and regional levels. The model allows for exploration of the areas most affected by the project and thus could assist planners in allocating infrastructure investments.
    Date: 2022–11–20
  4. By: IFAD
    Abstract: This report presents the results of the IA conducted for the IFAD11 period, based on 24 projects. These projects were selected from the universe of 96 projects that closed during the IFAD11 replenishment period (2019-2021). This sample corresponds to 25 per cent of the total, exceeding the required sample size of at least 15 per cent, in response to a recommendation made by the Evaluation Committee at its 109th session held in June 2020.4 The projects were identified using a set of inclusion and exclusion criteria laid out in the approved DEF to ensure feasibility and rigour.
    Keywords: Agricultural and Food Policy
    Date: 2022–08–05
  5. By: Hao, Peng; Liu, Haishan; Liao, Yejia; Boriboonsomsin, Kanok; Barth, Matthew J
    Abstract: Goods movement accounts for a significant and growing share of urban traffic, energy use and greenhouse gas emissions (GHGs). This project investigated the vehicle miles travelled (VMT) and emissions impact of on-demand food delivery under different COVID-19 pandemic periods and multiple operational strategies, with real-world scenarios set up in the city of Riverside, California. The evaluation results showed that during COVID-19 the total VMT and pollutant emissions (CO2, CO, HC, NOx) incurred by eat out demand all decreased by 25% compared with the before-COVID-19 period. The system can achieve substantial reductions in vehicle trips and emissions with higher penetration of on-demand delivery. From the dynamic operation perspective, the multi-restaurant strategy (allow food orders to be bundled from multiple restaurants in one driver’s tour) can bring 28% of VMT and emissions reductions while avoiding introducing additional delay compared to the one-restaurant policy (only allow food orders from the same restaurant to be bundled in one driver’s tour). The research results indicate that the delivery platform should provide more reliable service with lower cost to increase the food delivery penetration level, which needs improvement in driver capacity management, eco-friendly delivery strategy, and efficient order allocation system. Meanwhile, to achieve maximum VMT and emissions reduction, the platform should encourage order bundling and employ a multi-restaurant policy to provide higher flexibility to group food orders, especially from restaurants located densely in one shopping plaza or commercial zone. View the NCST Project Webpage
    Keywords: Engineering, Physical Sciences and Mathematics, shared mobility, on-demand food delivery, sustainability, emission evaluation
    Date: 2022–12–01
  6. By: Miglo, Anton
    Abstract: In this paper we analyze a firm choice between crowdfunding and bank financing. For many entrepreneurs it is an important issue. We analyze a model where the choice of financing is affected by moral hazard problem regarding the choice of production scale that favors bank financing, and by the uncertainty about market demand that favors crowdfunding. We argue that long crowdfunding campaigns or campaigns with large targets usually are less efficient in mitigating moral hazard problem than small/short campaigns. We also argue that high-quality firms and firms with potentially large markets will tend to select bank financing while projects with largest amount of investment should select mixed financing where the firm uses a short crowdfunding campaign and a bank loan. Most of our model empirical predictions have not been directly tested sofar while they are indirectly consistent with available evidence.
    Keywords: crowdfunding, debt financing, moral hazard, reward-based crowdfunding, demand uncertainty
    JEL: D82 G32 L26 M13
    Date: 2021

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