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Author: J. Luis Guasch Publisher: World Bank Publications ISBN: 9780821357927 Category : Business & Economics Languages : en Pages : 212
Book Description
During the 1990s, infrastructure concessions were hailed as the solution to Latin America's endemic infrastructure deficit, by combining private sector efficiency with rent dissipation brought about by competition. This publication examines the design and implementation of over 1,000 examples of concession contracts, in order to identify the problems that have occurred in the process. It goes on to highlight lessons to be learned for the future, in order to realise the potential benefits of infrastructure reform and to contribute to economic growth and poverty reduction.
Author: J. Luis Guasch Publisher: World Bank Publications ISBN: 9780821357927 Category : Business & Economics Languages : en Pages : 212
Book Description
During the 1990s, infrastructure concessions were hailed as the solution to Latin America's endemic infrastructure deficit, by combining private sector efficiency with rent dissipation brought about by competition. This publication examines the design and implementation of over 1,000 examples of concession contracts, in order to identify the problems that have occurred in the process. It goes on to highlight lessons to be learned for the future, in order to realise the potential benefits of infrastructure reform and to contribute to economic growth and poverty reduction.
Author: J. Luis Guasch Publisher: World Bank Publications ISBN: Category : Infrastructure (Economics) Languages : en Pages : 45
Book Description
"The authors complement the existing knowledge in the renegotiation literature on infrastructure concessions by analyzing government-led renegotiations. They first propose a multiple-period theoretical framework in which both Pareto-improving and rent-shifting renegotiations at the initiative of the government can occur. They then perform an empirical analysis based on a sample of 307 water and transport projects in five Latin American countries between 1989 and 2000. While some of the main insights from the previous literature are unchanged, for example concerning the importance of having a regulator in place when awarding concessions and the fragility of price cap regulatory schemes, there are also significant differences as predicted by the model, in particular with respect to the effect of investment and financing, as well as the corruption variables. The authors provide additional evidence showing that a good regulatory framework is especially important in contexts with weak governance and political opportunism. "--World Bank web site.
Author: J. Luis Guasch Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Numerous renegotiations have plagued Latin American infrastructure concession contracts in the 1990s, to the point that private sector involvement is being questioned in some countries. This issue has been analyzed in a series of papers by Guasch et al. (2003, 2006a, 2006b). After putting these contributions in the context of the theoretical and empirical literature on contract renegotiation, this note surveys the existing evidence on the determinants of these renegotiations and discusses the main policy implications regarding the necessity of efficient regulatory institutions and the adequate type of price regulation.
Author: Antonio Estache Publisher: World Bank Publications ISBN: Category : Concessions Languages : en Pages : 36
Book Description
If having firm-driven renegotiations of contracts for infrastructure services is a major concern, efficiency should not be the only consideration in selecting an operator, indeed, consumers may want to award the concession to a less efficient firm if that would reduce the probability of renegotiation.
Author: Frank Ennis Publisher: Routledge ISBN: 1351927469 Category : Political Science Languages : en Pages : 252
Book Description
The provision of infrastructure for urban developments is increasingly becoming a highly contentious and important issue in planning negotiations. By drawing together a range of case studies from North America, Australia and Europe, this book compares how a number of planning systems deal with this issue. There is a general trend by planning agencies towards the securing of infrastructure from the private sector. This necessitates a negotiation process between planning agencies, developers and infrastructure providers and this volume shows how this process varies according to the political context, the nature of the planning system and the existence of other frameworks such as Environmental Impact Assessment. By doing so, the collection presents an original perspective on both the negotiation process in planning and on how infrastructure should be provided.
Author: Eduardo Engel Publisher: ISBN: Category : Renegotiation of government contracts Languages : en Pages : 15
Book Description
Infrastructure concessions are frequently renegotiated after investments are sunk, resulting in better contractual terms for the franchise holders. This paper offers a political economy explanation for renegotiations that occur with no apparent holdup. We argue that they are used by political incumbents to anticipate infrastructure spending and thereby increase the probability of winning an upcoming election. Contract renegotiations allow administrations to replicate the effects of issuing debt. Yet debt issues are incorporated in the budget, must be approved by Congress and are therefore subject to the opposition's review. By contrast, under current accounting standards the obligations created by renegotiations circumvent the budgetary process in most countries. Hence, renegotiations allow incumbents to spend more without being subject to Congressional oversight.
Author: Carlos Oliveira Cruz Publisher: Springer Nature ISBN: 3030612589 Category : Law Languages : en Pages : 190
Book Description
This book provides a theoretical basis for understanding the phenomenon of renegotiations in Public Private Partnerships (PPPs). It analyzes the case of transport projects, and provides empirical evidence from a variety of real-world projects. What drives renegotiations? Why are some projects more likely to be renegotiated than others? What are the outcomes? How can we improve the performance of renegotiation processes? These questions form the core of discussion in this book. PPPs are a procurement model for the delivery of infrastructure and public services that have experienced significant growth over the last three decades, particularly in terms of the development of transportation projects. The empirical evidence suggests that most PPP projects are inevitably renegotiated, i.e., the original contract needs to be adapted to new and unforeseen circumstances. The impacts of these changes on the welfare of the respective stakeholders are frequently asymmetric. Most academic research and professional guidelines are focused on PPP contract design and preparation of the procurement process, and very little has been published on the management and, mainly, the process of renegotiating that will – in all likelihood – occur. This book fills this gap in the academic discussion. Several country-based analyses and case studies from Europe and the Americas provide the reader with practical applications of the theory.
Author: Arnold Picot Publisher: MIT Press ISBN: 0262029650 Category : Business & Economics Languages : en Pages : 527
Book Description
In this volume, experts from Europe, North and South America and Asia examine the complexities of financing, installing, implementing and regulating public infrastructures. Employing a range of methodological approaches, including historical and empirical research, analytical models, theoretical analysis and sector and regional case studies, they consider the economics of infrastructure provisioning by government, through private-public partnerships and privatisation arrangements. After first treating general investment, growth and policy issues, they then offer sector-specific analyses of transportation, energy, telecommunications and water infrastructures.
Author: Ioannis Nicolaos Kessides Publisher: World Bank Publications ISBN: Category : Business & Economics Languages : en Pages : 328
Book Description
Electricity, natural gas, telecommunications, railways, and water supply, are often vertically and horizontally integrated state monopolies. This results in weak services, especially in developing and transition economies, and for poor people. Common problems include low productivity, high costs, bad quality, insufficient revenue, and investment shortfalls. Many countries over the past two decades have restructured, privatized and regulated their infrastructure. This report identifies the challenges involved in this massive policy redirection. It also assesses the outcomes of these changes, as well as their distributional consequences for poor households and other disadvantaged groups. It recommends directions for future reforms and research to improve infrastructure performance, identifying pricing policies that strike a balance between economic efficiency and social equity, suggesting rules governing access to bottleneck infrastructure facilities, and proposing ways to increase poor people's access to these crucial services.
Author: J. Luis Guasch
Author: J. Luis Guasch
Author: J. Luis Guasch
Author: Eduardo Saavedra
Author: J. Luis Guasch
Author: Antonio Estache
Author: Frank Ennis
Author: Eduardo Engel
Author: Carlos Oliveira Cruz
Author: Arnold Picot
Author: Ioannis Nicolaos Kessides