Este estudio investiga acerca del efecto que la inversión pública genera en la inversión privada durante los años 2002 – 2020 en el Perú. Esta investigación emplea la prueba de límites en un modelo autorregresivo con retardos distribuidos (ARDL), un enfoque desarrollado recientemente y que ha logrado mejorar las técnicas tradicionales de cointegración. Los resultados encontrados en esta investigación evidencian que la inversión pública presenta un efecto crowding out en corto y largo plazo hacer ca de la inversión privada. Aunque se presenta un efecto crowding out de la inversión pública en la inversión privada, la inversión en infraestructura presenta un efecto de complementa a largo plazo. A través de las cifras resultantes se sugiere que la productividad de la inversión pública e inversión privada puede mejorarse mediante una disminución de la inversión pública en no infraestructura al nivel mínimo necesario y un mayor fortalecimiento a la inversión en infraestructura. / This research studies the effect that public investment generates on private investment during the 2002-2020 period. This study used the limits test in an autoregressive model with distributed lags (ARDL), a recently developed approach that has managed to improve the techniques traditional cointegration. The results show that public investment has a negative effect on private investment in the short and long term. Although there is a crowding out effect of public investment on private investment, investment in infrastructure has a crowding in effect in the long term. The results suggest that the productivity of public and private investment in Peru can be improved by reducing public investment in non-infrastructure to the minimum necessary level and by further strengthening public investment in infrastructure. / Trabajo de investigación

This thesis focuses on the analysis and the use of the register of voluntary associations of municipalities. The theoretical part of the work is focused on defining the cooperation of municipalities, namely voluntary associations of municipalities, and funding op-portunities for public investment. The practical part deals with the analysis of public associations of municipalities of the South Moravian region, which was part of a specific research. They are then matched funding options selected project independent community through the voluntary association of municipalities.

La implementación de una Oficina de Dirección Proyectos PMO en el sector público, ya tuvo sus primeras experiencias durante la construcción de la infraestructura para los juegos Panamericanos y Parapanamericanos realizados en nuestro país el año 2019, dando resultados exitosos en la ejecución de dicho proyecto y en razón a ello el órgano rector del estado, a través del D.U. Nº 021-2020, emite sus primeras disposiciones que regulan la implementación de una Oficina de Dirección de Proyectos (PMO) y aunque aún es genérica y no precisa detalles para su implementación, se espera en los próximos años se venga regulando e implementando su uso en las obras del sector público. El presente trabajo de investigación desarrolla el diseño de una Oficina de Dirección de Proyectos PMO en la Municipalidad Provincial de Puno bajo la metodología denominada PMO Value Ring, en vista de que, como ejecutor de inversiones públicas, presenta dificultades en el cumplimiento del plazo, costos y calidad de los proyectos y se espera que mediante su implementación se reduzcan los problemas indicados, se ejecute el presupuesto público de manera eficiente y, consecuentemente, dé mayor beneficio a la sociedad. Dentro del contenido del presente trabajo de investigación, se ha desarrollado múltiples encuestas hacia los funcionarios y colaboradores involucrados en la ejecución de proyectos de la entidad a fin de poder obtener data que permitan realizar el diagnóstico de la situación actual de los proyectos de inversión en la organización, conocer sus principales problemáticas, calcular del nivel de madurez en dirección de proyectos, evaluar la cultura organizacional de la entidad en la ejecución de proyectos y finalmente desarrollar el diseño de la PMO considerando la metodología denominada PMO Value Ring. / The implementation of a PMO Project Management Office in the public sector, already had its first experiences during the construction of the infrastructure for the Pan American and Parapan American Games held in our country in 2019, giving successful results in the execution of that project and because of this the governing body of the state, through the D. U. Nº 021-2020, issues its first provisions that regulate the implementation of a Project Management Office (PMO) and although it is still generic and does not specify details for its implementation, it is expected that in the coming years its use in public sector works will be regulated and implemented. This research work develops the design of a PMO Project Management Office in the Provincial Municipality of Puno under the methodology called PMO Value Ring, in view of the fact that, as an executor of public investments, it presents difficulties in meeting the deadline, costs and quality of the projects and it is expected that through its implementation the problems indicated will be reduced, the public budget will be executed efficiently and, consequently, it will give greater benefit to society. Within the content of this research work, multiple surveys have been carried out with the officials and collaborators involved in the execution of projects of the Provincial Municipality of Puno in order to obtain data that allow the diagnosis of the current situation of investment projects in the organization, to know its main problems, to calculate the level of maturity in project management, to evaluate the organizational culture of the entity in the execution of projects and finally to develop the design of the PMO considering the methodology called PMO Value Ring. / Trabajo de investigación

El presente trabajo de investigación realiza una propuesta de buenas prácticas que se propone en una Universidad Pública para que se lleven a cabo en la Fase de Formulación y Evaluación correspondiente al ciclo de inversiones del INVIERTE.PE, el cual es el Sistema Nacional de Programación Multianual y Gestión de Inversiones, cuyo principal objetivo es el cierre de brechas de infraestructura o de acceso a servicios públicos para la población. Estas buenas prácticas están basadas en la guía para la dirección de proyectos del PMBOK® 6ta edición, tomando en cuenta las áreas de conocimiento de gestión de los interesados, gestión del alcance, gestión del cronograma y gestión de riesgos del proyecto. Asimismo, se han incluido otras mejores prácticas no PMI, como Gestión de Realización de Beneficios (BRM) y gestión de valor, incluyendo técnicas como Curva J. Las cuales pretenden ser una guía para el Jefe de la Unidad Formuladora. Se precisa que este trabajo está enfocado a los proyectos de inversión pública a nivel de Perfil que se elaboran en las Universidades Públicas, las cuales tienen autonomía e ingresos por canon, como se detalla en el siguiente trabajo de investigación. Finalmente, este trabajo de investigación propone un proceso de implementación de estas buenas prácticas, las cuales incluyen la Gestión del Cambio Organizacional. / This research work makes a proposal of project management best practices at Public University to carry out in the Formulation and Evaluation Phase corresponding to the investment cycle of INVIERTE.PE, which is the National Multi-annual Programming and Investment Management System, whose main objective is the closing of infrastructure gaps or access to public services for the population. These best practices are based on the project management guide PMBOK® 6th edition, taking into account the process of stakeholder management, scope management, schedule management and risk management. Other best practices have also been included, such as Benefit Realization Management (BRM) and value management, including techniques such as Curve J. Which are intended to be a guide for the Head of the Formulatory Unit. Is precised that this work is focused on public investment projects at the Profile level that are elaborated in Public Universities to whom have autonomy and income by canon, as detailed in following research work. Finally, this research put forward an implementing process based on such good practices, which include Organizational Change Management. / Trabajo de investigación

En el Perú, las Reservas Internacionales han alcanzado niveles máximos históricos en el año 2019. Existen diversos estudios que abordan el nivel óptimo de reservas, pero no investigan el impacto en la Inversión Privada. El incremento de las Reservas Internacionales podría fomentar la inversión al reducir el costo de endeudamiento externo; sin embargo, una política monetaria contractiva como estrategia para la acumulación de reservas podría desplazar el financiamiento para la inversión. Este documento estudia la relación entre la acumulación de Reservas Internacionales y la Inversión Privada en el Perú durante el periodo 2002-2019 mediante un Modelo Autorregresivo de Rezagos Distribuidos (ARDL). Los resultados sugieren una relación positiva entre la acumulación de reservas en el largo plazo, pero una relación negativa en el corto plazo. / International Reserves have reached historical maximum levels in 2019 in Perú. There are several studies that address the optimal level of reserves, but they do not investigate the impact on Private Investment. Increasing International Reserves could encourage investment by reducing the cost of external borrowing; however, a contractionary monetary policy as a strategy for reserve accumulation could crowd out financing for investment. This paper studies the relationship between the accumulation of International Reserves and Private Investment in Peru during the period 2002-2019 using an Autoregressive Model of Distributed Lag (ARDL). The results suggest a positive relationship between reserve accumulation in the long run, but a negative relationship in the short run. / Trabajo de investigación

The subject of the diploma thesis is based on the specific intention of the town Žďár nad Sázavou for the reconstruction of an original kindergarten building into a multifunctional building of a community center. The construction program counts on five different programs: the Community Center, the Day Center for Children and Youth (low-threshold facility working especially with children from socially disadvantaged families), the Club V 9 (Mental Health Support Center), the Social Services Directorate, and finally, a nursery (child group, up to 3 years of age). The proposed operational solution of the project perceives the continuity of development while respecting not only the relations of the different types of functions but also the situation on the land, respectively in the surrounding area. The addition of new volumes strengthens the position of the central superimposed mass, from which individual cells containing individual functions are exerted into the adjacent garden. The relationship between the horizontal pavilions in the garden and the elevated central mass is emphasized by its further elevation and the placement of the most specific part of the social hall into this "crown" of the object. An integral part of the reconstruction is the involvement of the community center, as a public building, into the public space. The land is thus partially accessible to several public areas, but with respect to the specifics of the different groups of users, the essential part of the land is left as closed gardens of individual services.

Bakgrund och problem: Investeringar inom offentliga verksamheter skiljer sig mot privata verksamheter vilket grundar sig i dess icke-vinstdrivande karaktär. Detta påverkar även investeringsbedömningen. Tidigare forskning har visat att offentliga verksamheter inte använder företagsekonomiska investeringskalkyler. Istället prioriteras kvalitativa aspekter vid beslutsfattandet, trots att investeringskalkyler benämns som viktiga för välgrundade beslut. Vidare finns det inte heller några specifika kvalitativa faktorer som är särskilt framträdande i offentliga verksamheter.  Syfte: Syftet studien är undersöka och få förståelse för investeringsbedömning i offentliga verksamheter. Studien syftar därtill att identifiera vilka beslutsunderlag som användes vid beslutet av att investera i megaprojekt.  Metodval: Studien är av ett kvalitativ slag med en abduktiv forskningsansats. Vidare är det en enfallsstudie av Region Kronoberg där den empiriska insamlingen framförallt baseras på semistrukturerade intervjuer men även dokumentgranskning.  Slutsatser: Investeringskalkyler används inte som ett beslutsunderlag i offentliga verksamheter. Istället anses icke-finansiella aspekter viktigare där kvalitativa beslutsunderlag som omfattar säkerhetsaspekter, tillväxtrelaterade behov och förbättring av service visat sig vara avgörande. / Background and problem: Investments in the public sector are different from the private sector because of their nonprofitable character. This further affects the evaluation of capital investments. Previous research has proved that public organizations do not use traditional investment calculations. Instead they prioritize qualitative aspects in decision-making, despite the methods being considered essential for making good decisions. However there are no specific qualitative factors that are particularly prominent. Purpose: The purpose of the study is to understand the use of capital budgeting techniques in the public sector. Moreover, the study aims to identify what the decision of investing in megaprojects is based on.   Method: The study is of a qualitative nature, with an abductive research approach. Furthermore it is a case study of Region Kronoberg where the empirical material primarily is based on semi-structured interview but also from document review. Conclusions: Traditional capital budgeting methods proved not to be used in the public sector. Insted, simple calculations where used in order to evaluate if it was possible to finance the investment. Additionally, the study proved that the public sector prioritized qualitative aspects such as healthy and safety issues, growth-related needs and service enhancement.

Submitted by JOSIANE SANTOS DE OLIVEIRA (josianeso) on 2018-02-08T15:37:26Z No. of bitstreams: 1 Luciana Arenhart Menegat_.pdf: 2130171 bytes, checksum: 31939bf69f5ffaead6152b5d73c3171a (MD5) / Made available in DSpace on 2018-02-08T15:37:26Z (GMT). No. of bitstreams: 1 Luciana Arenhart Menegat_.pdf: 2130171 bytes, checksum: 31939bf69f5ffaead6152b5d73c3171a (MD5) Previous issue date: 2017-12-19 / Nenhuma / Na literatura, ocorre divergência quanto ao tipo de relação existente entre os investimentos públicos e privados, havendo estudos que indicam uma relação de crowding in e outros de crowding out, identificando-se uma lacuna nesses estudos e a necessidade de novas investigações que determinem essa relação. Assim, defende-se a tese de que os investimentos públicos possuem impacto positivo sobre os investimentos privados, tendo-se como objetivo geral identificar se existe interdependência entre os investimentos público federal e privado no Brasil. Para esse intento, analisam-se dados trimestrais entre 2002 e 2015, por meio de um Modelo VAR e VEC, que permite estabelecer relações de curto e longo prazos entre as variáveis. Dentre os modelos testados, o melhor deles se mostrou o composto por investimento privado, investimento público, taxa de câmbio e utilização da capacidade instalada, que permite o reconhecimento de que, a cada aumento de 1% no investimento público, deve ampliar-se, em média, 0,44% o investimento privado. Destaca-se que a valorização da taxa de câmbio produz um efeito negativo significativo sobre o investimento privado, no curto prazo, mas, no longo prazo, essa relação torna-se não significativa. Os demais resultados mantiveram os mesmos sinais das elasticidades no curto e no longo prazos, resultados semelhantes aos observados na literatura. Dessa forma, confirmam as hipóteses de pesquisa fundamentadas na função Keynesiana em relação às expectativas, à renda e à taxa de juros, para explicar o comportamento do investimento público e do privado, de modo que essas hipóteses comprovam a tese fundamental desta pesquisa e permitem atingir o objetivo geral. Em síntese, foi possível determinar uma relação positiva entre investimentos público e privado, embora essa relação tenha baixa elasticidade. Ou seja, o investimento público é significante para explicar o nível do investimento privado, mas não é a variável de maior impacto, que foi a utilização da capacidade instalada (indicando as expectativas e o nível de atividade). Além disso, os investimentos privados e públicos apresentaram um movimento conjunto, não sendo possível determinar uma relação de causalidade pelo Teste de Granger entre os investimentos públicos e os privados, nesta pesquisa. Essas situações possuem embasamento teórico, o que indica que é uma relação ainda não definida e que se sugere como pesquisa futura, ou seja, trabalhos que tentem definir o sentido da causalidade entre os investimentos privados e públicos. / In the literature, there is a divergence between the type of relationship between public and private investments, with studies indicating crowding in and others crowding out, identifying a gap in these studies and the need for further investigations that determine this relationship . Thus, it is defended the thesis that public investments have a positive impact on private investments, with the general objective of identifying if there is interdependence between public and private investments in Brazil. For this purpose, quarterly data are analyzed between 2002 and 2015, using a VAR and VEC Model, which allows establishing short- and long-term relationships between variables. Among the models tested, the best of them was composed of private investment, public investment, exchange rate and utilization of installed capacity, which allows the recognition that, with each 1% increase in public investment, on average, 0.44% of private investment. It should be emphasized that the appreciation of the exchange rate has a significant negative effect on private investment in the short term, but in the long run this relationship becomes insignificant. The other results maintained the same signs of elasticities in the short and long terms, results similar to those observed in the literature. Thus, they confirm the hypotheses of research based on the Keynesian function in relation to expectations, income and interest rate, to explain the behavior of public and private investment, so that these hypotheses prove the fundamental thesis of this research and allow to reach the overall goal. In summary, it was possible to determine a positive relation between public and private investments, although this relation has low elasticity. That is, public investment is significant to explain the level of private investment, but it is not the variable with the greatest impact, which was the use of installed capacity (indicating expectations and level of activity). In addition, private and public investments presented a joint movement, and it is not possible to determine a causal relationship by the Granger Test between public and private investments in this research. These situations have a theoretical basis, which indicates that it is a relationship not yet defined and that is suggested as future research, that is, works that try to define the sense of causality between private and public investments.

市地重劃是目前落實都市計畫的重要工具之一透過市地重劃可取得十公共設施用地及部分設施之建設經費。在地方政府財源短絀的情況下，市地重劃不啻是為優良之地方建設工具之一。 市地重劃運用使用者付費之觀念，將開發利益以公共設施用地及建設經費的內容，轉換成抵費地之方式回饋社會，目前依法令規定此回饋比例不得超過市地重劃總面積之百分之四十五。然而如何適當地評估開發利益（即市地重劃效益），並依此獲利負擔回饋（即市地重劃負擔）是本研究所欲了解的。本研究藉由地價理論，確定市地重劃效益主要是因為公共設施投資建設所產生之寧適性與可建性，資本化為每宗土地之土地價值一部分而得；其次依分配價值理論與使用者付費方法，確定市地重劃負擔具有類似稅捐性質，其意為每宗土地支付重劃負擔所繳納之土地比例。由此觀點，本研究藉由市地重劃地價函數之建立，依特徵價格法（ Hedonic Price Method）建構實證模型，並且選定臺中市第七期及第八期重劃區為實證地區，以討論公共設施投資建設對市地重劃後土地價值的景響程度，２重劃負擔法定比例的經濟意義及土地所有權人對重劃負擔的真實負擔能力，以及3以個體經濟之觀點，衡量土地所有權人對重劃之利益與負擔，願意支付之價格。最後再進一步檢討1現行市地重劃分配計算方式之缺失，2以抵費地支付重負擔之問題，以及3重劃估價方式之間題，並提出改進方向。 本研究經以理論及實證分析，獲得之主要結論為：參與市地重劃之住宅地，透過地方性公共建設投資資本化作用，可獲得相當利益，此時以抵費地方式回饋部分利益是極可行的方式，且依實證結果可知，目前地主支付重劃負擔之實力仍大於法規要求之百分之四十五。因此，若再考慮土地使用變更所獲之超額利益，則回饋利益之比例應遠大於百分之四＋五。

The Public Works Tax Deduction Law has been enacted to foster public investment at a local and regional level by including participation from the private sector and through the subscription of agreements with local and regional governments.Nonetheless its noble purposes, in the application field of the Law, normative gaps are put into evidence, which impede its practical application. In the present article, the author shows which are the Law’s deficiencies, while analyzing them and proposing possible solutions. / La Ley de Obras por Impuestos tiene como objetivo principal impulsar la inversión pública de impacto regional y local, con la participación del sector privado, mediante la suscripción de convenios con los gobiernos regionales y/o locales.No obstante su noble propósito, en el ámbito aplicativo de la ley se evidencian ciertos vacíos normativos que dificultan su aplicación práctica. Es así que –en el presente artículo– la autora nos muestra cuáles son estas deficiencias a la vez que, luego de hacer un análisis de las mismas, nos propone posibles soluciones.