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on Project, Program and Portfolio Management |
| By: | Sarah Fritz; Catherine van der List; Lorenzo Incoronato |
| Abstract: | This paper documents substantial fiscal waste in the context of one the world's largest regional development programs - the EU Cohesion Policy. We study Italy, and find that 20% of funding commitments are never paid out and funneled into unfinished or never-started projects. In our setting, this happens for reasons unrelated to fiscal constraints - municipalities appear to simply leave money on the table. Foregone spending is more prevalent in Southern regions, but there is also stark variation across municipalities within regions. We show that such under-utilization of available funds is strongly associated with limited administrative capacity of local governments. |
| Keywords: | foregone spending, state capacity, fiscal waste |
| JEL: | H11 H83 R58 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:crm:wpaper:2567 |
| By: | Jevgenijs Steinbuks; Peer Schouten; Mathilde Lebrand; Hannes Mueller |
| Abstract: | This paper explores the effect of road rehabilitation on violent conflict using a novel, rich dataset of road rehabilitation projects in the Democratic Republic of Congo. The country received massive external investments in transport infrastructure rehabilitation under conditions of endemic conflict, often with the explicit objective of supporting peacebuilding objectives. The paper finds that investments in road rehabilitation deter violence, which decreases significantly by around 5 to 10 percentage points after the completion of road rehabilitation. However, another significant finding, based on large-scale machine learning analysis of remote sensing data of road quality over time, is that the peace dividend of infrastructure investments is perish- able: violence increases again as roads progressively deteriorate. Improved durability and systematic maintenance of roads are thus necessary to extend the "peace dividend" of road investments. |
| Keywords: | DRC, mining, remote sensing, road infrastructure, violence |
| JEL: | O18 O19 O55 Q34 |
| Date: | 2026–04 |
| URL: | https://d.repec.org/n?u=RePEc:bge:wpaper:1574 |
| By: | Fußhöller, Lukas; Küper, Malte |
| Abstract: | Die Dekarbonisierung der deutschen Industrie erfordert grundlegende Veränderungen der Produktionsprozesse. Viele der dafür benötigten Technologien sind bislang jedoch noch nicht im industriellen Maßstab erprobt und mit erheblichen technologischen, infrastrukturellen und marktbezogenen Unsicherheiten verbunden. Diese Transformationsrisiken mindern die Investitionsattraktivität aus Sicht der Unternehmen und erschweren zugleich die Finanzierung entsprechender Projekte durch Banken, da sie die Stabilität erwarteter Cashflows beeinträchtigen und das Kreditausfallrisiko erhöhen. Eine wirksame Transformationsfinanzierung muss daher gezielt an den zugrunde liegenden Risikofaktoren ansetzen. Die Studie untersucht dazu bestehende Reifegradkonzepte als Instrumente zur systematischen Erfassung von Risiken industrieller Dekarbonisierungstechnologien. [...] Auf Basis einer vergleichenden Analyse entwickelt die Studie eine eigene Methodik zur Erfassung von Transformationsrisiken in der Industriedekarbonisierung. Im Mittelpunkt steht eine Systematik zentraler Risikodimensionen in den Bereichen Energieinfrastruktur, Industrieunternehmen und Absatzmärkte, die durch politisch-regulatorische Rahmenbedingungen und gesellschaftliche Akzeptanz übergreifend beeinflusst werden. Zur Erhöhung der Nachvollziehbarkeit und Vergleichbarkeit werden die identifizierten Risikodimensionen nicht nur qualitativ beschrieben, sondern durch quantitative Indikatoren operationalisiert. Auf diese Weise lassen sich Transformationsrisiken systematisch messen und technologieübergreifend bewerten. Damit liefert die Studie einen Ansatz, Transformationsrisiken der industriellen Dekarbonisierung systematisch, vergleichbar und quantitativ zu erfassen und schafft die Grundlage, diese gezielt zu adressieren und privates Kapital effektiver zu mobilisieren. |
| Abstract: | The decarbonization of German industry requires fundamental transformations of production processes. However, many of the necessary technologies have not yet been demonstrated at industrial scale and are associated with significant technological, infrastructural, and market-related uncertainties. These transformation risks reduce the attractiveness of investments from the perspective of firms and simultaneously impede the financing of such projects by banks, as they undermine the stability of expected cash flows and increase credit default risk. Effective transformation finance must therefore directly address the underlying risk factors. To this end, the study examines existing readiness frameworks as instruments for the systematic assessment of risks associated with industrial decarbonization technologies. [...] Based on a comparative analysis, the study develops a novel methodology for assessing transformation risks in industrial decarbonization. At its core is a structured framework of key risk dimensions across energy infrastructure, industrial firms, and end-use markets, which are cross-cuttingly influenced by political-regulatory conditions and societal acceptance. To enhance transparency and comparability, the identified risk dimensions are not only described qualitatively but also operationalized through quantitative indicators. This enables systematic measurement and cross-technology evaluation of transformation risks. The study thus provides an approach to systematically, comparably, and quantitatively assess transformation risks in industrial decarbonization, laying the foundation for addressing these risks in a targeted manner and more effectively mobilizing private capital. |
| Keywords: | Dekarbonisierung, Produktionsprozess, Technischer Fortschritt, Investitionsentscheidung, Entscheidung unter Unsicherheit, Kapitalbeschaffung |
| JEL: | G32 Q55 L60 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:iwkrep:340168 |
| By: | Costanza Naguib-Stettler |
| Abstract: | In 2018, the Journal of Development Economics introduced a pre-results review track, allowing prospective empirical projects to be assessed before the realization and reporting of their results. This paper studies whether this change in the editorial process affected the prevalence of p-hacking and/or publication bias in articles published in the Journal of Development Economics relative to comparable journals in the same period. |
| Keywords: | p-hacking, publication bias, pre-results review, difference-in-differences |
| JEL: | A11 A14 C13 |
| Date: | 2026–04 |
| URL: | https://d.repec.org/n?u=RePEc:ube:dpvwib:dp2603 |
| By: | Nemoto, Kazuki; KUDO, Shuma; Ueda, Kohei; , シロサキサクヤ; Weidener, Lukas; Hamada, Hiro Taiyo (Arya Inc.) |
| Abstract: | The current scientific system faces systemic challenges. Decentralized Science (DeSci) has emerged as a technological extension of the Open Science (OS) movement, aiming to improve transparency, accessibility, and equity in research through blockchain and Web3 technologies. While DeSci has gained traction in Western countries, little is known about its adoption in non-Western contexts. Here, we surveyed 37 researchers and technologists active in Japan’s emerging decentralized‑science (DeSci) during spring 2024 to assess how far the movement has progressed and what impedes its progress. Roughly 60% of respondents had already worked on blockchain projects and more than 80% owned crypto assets, yet almost 90% had discovered DeSci only in the past two years. Respondents largely embraced DeSci’s five core ideals: shared governance, transparent funding, open access, shared ownership, and equitable incentives. Meanwhile, four obstacles to growth were highlighted: low public awareness, difficulty sustaining engagement, limited talent diversity, and regulatory uncertainty. Taken together, the findings suggest that Japan’s DeSci community should also invest not only in further technical changes, but also in training, in broadening its talent base, and in setting clear guidelines. This study provides a comprehensive overview of the DeSci landscape in Japan and offers recommendations for its future development. |
| Date: | 2026–04–20 |
| URL: | https://d.repec.org/n?u=RePEc:osf:metaar:yxj53_v2 |