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Price Caps Efficiency Payoffs And Infrastructure Contract Renegotiation In Latin America
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Book Synopsis Price Caps, Efficiency Payoffs and Infrastructure Contract Renegotiation in Latin America by : Antonio Estache
Download or read book Price Caps, Efficiency Payoffs and Infrastructure Contract Renegotiation in Latin America written by Antonio Estache and published by . This book was released on 2003 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Infrastructure Concessions in Latin America by : J. Luis Guasch
Download or read book Infrastructure Concessions in Latin America written by J. Luis Guasch and published by World Bank Publications. This book was released on 2005 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: "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.
Book Synopsis Renegotiation of Concession Contracts in Latin America by : J. Luis Guasch
Download or read book Renegotiation of Concession Contracts in Latin America written by J. Luis Guasch and published by World Bank Publications. This book was released on 2003 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors construct a regulation model in which renegotiation occurs due to the imperfect enforcement of concession contracts. This enables the authors to provide theoretical predictions for the impact on the probability of renegotiation of a concession, regulatory institutions, institutional features, economic shocks, and the characteristics of the concession contracts. Then they use a data set of nearly 1,000 concessions awarded in Latin America and the Caribbean countries from 1989 to 2000 covering the sectors of telecommunications, energy, transport, and water to test these predictions. Finally, the authors derive some policy implications of their theoretical and empirical work.
Book Synopsis Public Private Partnerships Renegotiations in Transportation by : Carlos Oliveira Cruz
Download or read book Public Private Partnerships Renegotiations in Transportation written by Carlos Oliveira Cruz and published by Springer Nature. This book was released on 2022-05-13 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a growing interest in Public-Private Partnerships (PPPs), particularly in infrastructure and public services. Under the scope of PPPs, renegotiations are becoming more relevant, as empirical evidence suggests that most PPP projects are inevitably renegotiated, i.e., the original contract needs to be adapted to new and unforeseen circumstances. Renegotiations have a substantial impact on the contract and performance of a PPP and usually represent significant costs for users and taxpayers. However, very little is known about the management and, mainly, the process of renegotiating that will, very likely, occur. This book provides a set of case-studies of PPP renegotiations in the transport sector. The authors illustrate the Portuguese experience, a country that has been using PPP extensively, particularly in transport. The case studies provide an extensive and detailed analysis on each aspect of the project and the renegotiation. What drives renegotiations? Why are some projects more renegotiated than others? What are the results? How can the performance of renegotiation processes be improved? These and other questions provide the basis for the discussions in this book. The novelty and value of the book come mainly from the extent of information available. Each case-study deals with these questions in much more detail than what is common in the case-studies approach.
Book Synopsis The Renegotiations of Public Private Partnerships in Transportation by : Carlos Oliveira Cruz
Download or read book The Renegotiations of Public Private Partnerships in Transportation written by Carlos Oliveira Cruz and published by Springer Nature. This book was released on 2021-02-18 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Granting and Renegotiating Infrastructure Concessions by : J. Luis Guasch
Download or read book Granting and Renegotiating Infrastructure Concessions written by J. Luis Guasch and published by World Bank Publications. This book was released on 2004-01-01 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Renegotiation of Concession Contracts in Latin America by : J. Luis Guasch
Download or read book Renegotiation of Concession Contracts in Latin America written by J. Luis Guasch and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: High rates of contract renegotiation have raised serious questions about the viability of the concession model to attract private participation in infrastructure in developing countries. After extending in reduced form a standard regulation model, in which renegotiation occurs due to the imperfect enforcement of concession contracts, we use a unique data set of 307 concessions awarded in Latin America from 1989 to 2000, covering the sectors of transport and water, to analyze the determinants of this high incidence of renegotiations of infrastructure contracts. We look in details at the impact, on the probability of renegotiation of a concession, of regulatory institutions, institutional features, economic shocks and of the characteristics of the concession contracts themselves. We then derive some policy implications of our work.
Book Synopsis Can Latin America Compete? by : J. Haar
Download or read book Can Latin America Compete? written by J. Haar and published by Springer. This book was released on 2008-01-21 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: Can Latin America compete? Many argue that the macroeconomic and trade reforms of the 1990s merely put a handsome coat of paint over education, labour, judicial, and administrative reforms that remain incomplete. This book identifies ten factors that most influence the competitiveness of Latin American nations and will shape their economic futures.
Book Synopsis Urban Infrastructure Finance from Private Operators by : Patricia Clarke Annez
Download or read book Urban Infrastructure Finance from Private Operators written by Patricia Clarke Annez and published by World Bank Publications. This book was released on 2006 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author examines the role of private participation in infrastructure (PPI) in mobilizing finance for key urban services, that is, urban roads, municipal solid waste management, and water and sanitation since the early 1990s when private participation came to be seen as a key element in infrastructure development. Her review indicates that for financing urban services, PPI has disappointed-playing a far less significant role than was hoped for, and which might be expected given the attention it has received and continues to receive in strategies to mobilize financing for infrastructure. Looking beyond the number, the author examines transactions and finds that there are good reasons-practical, political, economic and institutional-for these disappointments. Recommending that cities in developing countries try harder is not likely to relieve all these constraints. Experience shows that there are a number of features that raise the risk profile of urban infrastructure for private investors, which has meant that the bulk of the transactions that have taken place have been exceptions rather than harbingers of a growing trend. Many of the measures that could reduce the risk profile are outside the control of many cities, others unlikely to change, and yet another group of steps to be taken that would improve prospects for urban service provision, whether in the hands of public or private operators. These findings suggest a more pragmatic and selective approach to the focus on PPI as a source of finance, and more focus on the array of some of the fundamental steps, among them strengthening the public finances of cities to improve both the capacity to deliver services and to reduce the risks that private investors must take when they invest in urban infrastructure.
Book Synopsis Renegotiation of Infrastructure Concessions by : J. Luis Guasch
Download or read book Renegotiation of Infrastructure Concessions written by J. Luis Guasch and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Reforming Infrastructure by : Ioannis Nicolaos Kessides
Download or read book Reforming Infrastructure written by Ioannis Nicolaos Kessides and published by World Bank Publications. This book was released on with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Price of Inconvertible Deposits by : Neeltje van Horen
Download or read book The Price of Inconvertible Deposits written by Neeltje van Horen and published by World Bank Publications. This book was released on 2003 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Argentine crisis witnessed, among other things, a deposit run, the suspension of deposit convertibility, and a "boom" in the stock market. The authors argue that this boom reflects the cost that depositors were willing to incur to get their money out of the banking system, in light of the impending risks. This boom was generalized to all stocks and more pronounced in liquid stocks. Furthermore, the boom was a symptom that deposits were effectively restricted and that investors were not able to circumvent capital controls. This paper--a product of Macroeconomics and Growth, Development Research Group--is part of a larger effort in the group to understand financial crises.
Book Synopsis Water for Food Security and Well-being in Latin America and the Caribbean by : Bárbara A. Willaarts
Download or read book Water for Food Security and Well-being in Latin America and the Caribbean written by Bárbara A. Willaarts and published by Routledge. This book was released on 2014-04-24 with total page 455 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume provides an analytical and facts-based overview on the progress achieved in water security in Latin America and the Caribbean (LAC) region over during the last decade, and its links to regional development, food security and human well-being. Although the book takes a regional approach, covering a vast of data pertaining to most of the LAC region, some chapters focus on seven countries (Argentina, Brazil, Chile, Colombia, Costa Rica, Mexico and Peru). A full understanding of LAC’s trends progress requires framing this region in the global context: an ever more globalized world where LAC has an increasing geopolitical power and a growing presence in international food markets. The book’s specific objectives are: (1) exploring the improvements and links between water and food security in LAC countries; (2) assessing the role of the socio-economic ‘megatrends’ in LAC, identifying feedback processes between the region’s observed pattern of changes regarding key biophysical, economic and social variables linked to water and food security; and (3) reviewing the critical changes that are taking place in the institutional and governance water spheres, including the role of civil society, which may represent a promising means to advancing towards the goal of improving water security in LAC. The resulting picture shows a region where recent socioeconomic development has led to important advances in the domains of food and water security. Economic growth in LAC and its increasingly important role in international trade are intense in terms of use of natural resources such as land, water and energy. This poses new and important challenges for sustainable development. The reinforcement of national and global governance schemes and their alignment on the improvement of human well-being is and will remain an inescapable prerequisite to the achievement of long-lasting security. Supporting this bold idea with facts and science-based conclusions is the ultimate goal of the book.
Book Synopsis Do Regulatuion and Institutional Design Matter for Infrastructural Sector Performance by :
Download or read book Do Regulatuion and Institutional Design Matter for Infrastructural Sector Performance written by and published by World Bank Publications. This book was released on with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis infrastructure governance and corruption: where next? by : Charles Kenny
Download or read book infrastructure governance and corruption: where next? written by Charles Kenny and published by World Bank Publications. This book was released on 2007 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Governance is central to development outcomes in infrastructure, not least because corruption (a symptom of failed governance) can have significantly negative impact on returns to infrastructure investment. This conclusion holds whether infrastructure is in private or public hands. This paper looks at what has been learned about the role of governance in infrastructure, provides some recent examples of reform efforts and project approaches, and suggests an agenda for greater engagement - primarily at the sector level - to improve governance and reduce the development impact of corruption. The discussion covers market structure, regulation, state-owned enterprise reform, planning and budgeting, and project design.
Author :Luis Correia Da Silva, Sakari Järvelä, Antonio Estache Publisher :World Bank Publications ISBN 13 : Total Pages :22 pages Book Rating :4./5 ( download)
Book Synopsis is debt replacing equity in regulated privatized infrastructure in developing countries by : Luis Correia Da Silva, Sakari Järvelä, Antonio Estache
Download or read book is debt replacing equity in regulated privatized infrastructure in developing countries written by Luis Correia Da Silva, Sakari Järvelä, Antonio Estache and published by World Bank Publications. This book was released on 2004 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Infrastructure Concessions in Latin America by : J. Luis Guasch
Download or read book Infrastructure Concessions in Latin America written by J. Luis Guasch and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
