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This book explores the challenges of infrastructure sector governance, investigating the institutional, political, and administrative constraints on investment in large-scale projects. Increased investment in the sector is a consensus in Brazilian public policy, as projects in this area imply gains in productivity and economic competitiveness, while simultaneously producing public goods and services demanded by society. Recent times in Brazil have been marked by government actions in this direction, through various investment plans, programs, and projects. However, these efforts have yielded results below expectations, with the execution of the project portfolio being accompanied by difficulties in project implementation, both by the public and private sectors, resulting in schedule delays, budget overruns, and poorly calculated socio-environmental impacts. To better understand the obstacles to infrastructure investment in Brazil, Ipea, in partnership with professors from Brazilian and foreign universities, conducted a research project that resulted in a series of products, compiled in this volume. This work presents analyses of various aspects of infrastructure policy governance in contemporary Brazil, exploring issues related to the characteristics of investment and financing in the sector; conflicts between state bureaucracies and civil society; transaction costs related to the implementation of public-private partnerships; and institutional innovations resulting from the implementation of the Growth Acceleration Program (PAC). It also includes case studies concerning the implementation of large projects that comprised the PAC's investment portfolio. Thus, it was possible to empirically verify the relevance of institutional factors that condition the execution of investments in Brazil. The analyses are interdisciplinary in nature, drawing on and combining concepts and approaches from various disciplinary fields. It is hoped that the material presented in this book can contribute to institutional improvement and better management of projects in an area critical to the country's development, as well as support academic debates on public infrastructure policies.
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