Granting and renegotiating infrastructure concessions: doing it right
In: WBI development studies
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In: WBI development studies
In: WBI development studies
Intro -- Contents -- Foreword -- Preface -- Acknowledgments -- 1. Overview -- Infrastructure's Importance for Economic Growth -- Private Sector Participation and New Regulations and Risks -- Drawing on Experience to Improve Performance -- Outcomes of the Renegotiation Process -- Renegotiating Only When Justified -- 2. Options for Private Participation in Infrastructure -- Concessions-A Cancelable Right to Cash Flow -- Transferring Infrastructure Services to the Private Sector -- How Do Concessions Work? -- How Do Concessions Differ from Privatizations? -- Benefits of Concessions -- Drawbacks of Concessions -- Concession and Regulatory Design -- 3. Concessions and the Problem of Renegotiation -- Renegotiation Incidence and Incidents -- The Principle of Financial Equilibrium in Regulated Markets: More Regulation, More Renegotiation -- Bidding, Renegotiation, and Government Responses: Sanctity of the Bid -- The Case of Directly Adjudicated Concessions -- Other Drivers of Renegotiation -- 4. Anecdotal Evidence of the Drivers of Renegotiation -- Political and Institutional Issues -- Aggressive Bidding -- Faulty Contract Designs -- Government Failure to Honor Contract Clauses -- Defective Regulation and Its Effects -- Profile of a Typical Municipal Concession: Common Problems of Process and Design -- Macroeconomic Shocks -- 5. Renegotiation in Theory and Practice -- Reasons for Incomplete Contracts -- Incomplete Contracts, Concession Successes and Failures, and the Theory of Renegotiation -- Renegotiation Issues in Latin America and the Caribbean -- 6. Confirming Anecdote and Theory: Empirical Analysis of the Determinants of Renegotiation -- Basic Findings -- Empirical Analysis of the Determinants of Renegotiation -- Significant Variables Influencing the Incidence of Renegotiation -- Marginal Effects on the Probability of Renegotiation.
In: Annals of public and cooperative economics, Band 77, Heft 4, S. 479-493
ISSN: 1467-8292
In: Journal of political economy, Band 96, Heft 4, S. 867-881
ISSN: 1537-534X
In: Journal of political economy, Band 96, Heft 4, S. 867
ISSN: 0022-3808
In: World development: the multi-disciplinary international journal devoted to the study and promotion of world development, Band 14, Heft 10/11, S. 1253-1267
ISSN: 0305-750X
World Affairs Online
In: World development: the multi-disciplinary international journal devoted to the study and promotion of world development, Band 14, Heft 10-11, S. 1253
ISSN: 0305-750X
In: World development: the multi-disciplinary international journal devoted to the study and promotion of world development, Band 14, Heft 10 -- 11, S. 1253-1267
ISSN: 0305-750X
In: World development: the multi-disciplinary international journal devoted to the study and promotion of world development, Band 14, S. 1253-1267
ISSN: 0305-750X
In: World Bank Latin American and Caribbean studies
In: Directions in development
In: Directions in Development
This book provides insights into infrastructure sector performance by focusing on the links between key indicators for utilities, and changes in ownership, regulatory agency governance, and corporate governance, among other dimensions. By linking inputs and outputs over the last 15 years, the analysis is able to uncover key determinants that have impacted performance and address why the effects of such dimensions resulted in significant changes in the performance of infrastructure service provision.
In: Latin American development forum
Although the Latin American region's growth rates are at a three decade high, they have been historically disappointing in relative terms, which cannot be dissociated from the microeconomic environment in which firms operate. Policy makers may need to complement their focus on macroeconomic stability with an increased emphasis on microeconomic reforms. By providing empirical evidence linking actual firm performance to shortcomings in Latin America's investment climate, the book discusses policies that could have a significant impact on firm productivity by improving the environment in which fi
In: Center for Global Development Working Paper
SSRN
Working paper
In: World Bank Policy Research Working Paper No. 3749
SSRN
Working paper