Infrastructure Privatization and Regulation : Promises and Perils
Infrastructure is crucial for generating growth, alleviating poverty, and increasing international competitiveness. For much of the twentieth century and in most countries, the network utilities that delivered infrastructure services such as electr...
| Main Author: | |
|---|---|
| Format: | Journal Article |
| Language: | English en_US |
| Published: |
Oxford University Press on behalf of the World Bank
2013
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2005/03/17591908/infrastructure-privatization-regulation-promises-perils http://hdl.handle.net/10986/16404 |
| id |
okr-10986-16404 |
|---|---|
| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTABILITY ACCOUNTING ADVANCED ECONOMIES AIRPORT AUDITING AUTONOMY BANKING SECTOR BANKRUPTCY BUDGET DEFICITS CIVIL SERVICE CODES OF CONDUCT COLLUSION COMPARATIVE ADVANTAGE COMPETITIVE MARKET COMPETITIVE MARKETS COMPETITIVENESS CONSUMERS CROSS SUBSIDIES DEBT DEREGULATION DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVELOPMENT ECONOMICS DISTRIBUTIONAL EQUITY ECONOMIC ANALYSIS ECONOMIC DEVELOPMENT ECONOMIC EFFICIENCY ECONOMIC GROWTH ECONOMIC IMPLICATIONS ECONOMIC REFORM ECONOMIC REFORMS ECONOMIC SHOCKS ECONOMIC THEORY ELECTRICITY EMPLOYMENT EXCESS DEMAND EXTERNALITIES FINANCIAL CONSTRAINTS FINANCIAL CRISES FINANCIAL INSTITUTIONS FINANCIAL PERFORMANCE FINANCING OF INFRASTRUCTURE FIXED ASSETS FOREIGN INVESTMENT FREE MARKETS FREIGHT FREIGHT TRAFFIC GLOBAL MARKET GOVERNMENT INTERVENTION GROSS DOMESTIC PRODUCT HORIZONTAL INTEGRATION INCOME INCOME DISTRIBUTION INCOME GROUPS INCOME LEVELS INCOME TAXES INCOMES INDUSTRIAL COUNTRIES INDUSTRIAL ECONOMIES INEFFICIENCY INFLATION INFLATION TAX INFLATION TAXES INFORMATION ASYMMETRIES INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INFRASTRUCTURE PRIVATIZATION INFRASTRUCTURE PROJECTS INFRASTRUCTURE REFORM INFRASTRUCTURE REGULATION INSTITUTION BUILDING INSTITUTIONAL CAPACITY JURISDICTIONS LEGISLATION LIBERALIZATION LOCAL GOVERNMENT LONG-DISTANCE LOW-INCOME COUNTRIES MANDATES MARGINAL COSTS MARKET ECONOMY MARKET SHARE MARKET SHARES MIDDLE-INCOME COUNTRIES MINISTRY OF TRANSPORT MONOPOLIES MONOPOLY NATURAL MONOPOLIES NATURAL MONOPOLY NET ASSETS OPERATING EFFICIENCY OUTPUT PENALTIES PORT AUTHORITY PORT INFRASTRUCTURE PORTS POST OFFICES POTENTIAL INVESTORS POWER OUTAGES PRICE CHANGES PRICE INCREASES PRICE RISKS PRIVATE CAPITAL PRIVATE ENTITIES PRIVATE INFRASTRUCTURE PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRIVATIZATION PRIVATIZATIONS PRODUCTIVITY PROFITABILITY PROPERTY RIGHTS PUBLIC PUBLIC DEFICITS PUBLIC ENTERPRISES PUBLIC FINANCES PUBLIC FUNDS PUBLIC GOOD PUBLIC INFRASTRUCTURE PUBLIC POLICY PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SERVICES PUBLIC UTILITIES PUBLIC UTILITY RAIL RAIL INDUSTRY RAIL SYSTEMS RAIL TRACK RAIL USERS RAILROAD RAILROADS RAILWAY RAILWAYS RATE OF RETURN REFORM PROGRAM REGULATOR REGULATORS REGULATORY AGENCIES REGULATORY AGENCY REGULATORY AUTHORITY REGULATORY BODIES REGULATORY FRAMEWORK REGULATORY FRAMEWORKS REGULATORY OVERSIGHT REGULATORY REGIMES REGULATORY SYSTEM REGULATORY SYSTEMS REORGANIZATION RETURN ON EQUITY REVENUE ADEQUACY RISK PREMIUMS ROUTE SAFETY SAFETY NETS SANITATION SAVINGS SCANDALS SEWAGE SOCIAL WELFARE STATE ENTERPRISES STOCK MARKET STOCK MARKET COLLAPSES TAX TAX REVENUE TAX REVENUES TAX SYSTEM TAX SYSTEMS TAXATION TECHNICAL ASSISTANCE TECHNOLOGICAL CHANGES TELECOMMUNICATIONS TELECOMMUNICATIONS REFORM TELECOMMUNICATIONS REGULATION TELEPHONE SERVICES TRAFFIC GROWTH TRANSACTION COSTS TRANSITION ECONOMIES TRANSITION ECONOMY TRANSPARENCY TRANSPORT TRANSPORT COSTS TRANSPORT INFRASTRUCTURE TRANSPORT MODES TRANSPORT NETWORK TRANSPORTATION TRUE VALUE ADDED VERTICAL INTEGRATION WATER SUPPLY WHOLESALE PRICES |
| spellingShingle |
ACCOUNTABILITY ACCOUNTING ADVANCED ECONOMIES AIRPORT AUDITING AUTONOMY BANKING SECTOR BANKRUPTCY BUDGET DEFICITS CIVIL SERVICE CODES OF CONDUCT COLLUSION COMPARATIVE ADVANTAGE COMPETITIVE MARKET COMPETITIVE MARKETS COMPETITIVENESS CONSUMERS CROSS SUBSIDIES DEBT DEREGULATION DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVELOPMENT ECONOMICS DISTRIBUTIONAL EQUITY ECONOMIC ANALYSIS ECONOMIC DEVELOPMENT ECONOMIC EFFICIENCY ECONOMIC GROWTH ECONOMIC IMPLICATIONS ECONOMIC REFORM ECONOMIC REFORMS ECONOMIC SHOCKS ECONOMIC THEORY ELECTRICITY EMPLOYMENT EXCESS DEMAND EXTERNALITIES FINANCIAL CONSTRAINTS FINANCIAL CRISES FINANCIAL INSTITUTIONS FINANCIAL PERFORMANCE FINANCING OF INFRASTRUCTURE FIXED ASSETS FOREIGN INVESTMENT FREE MARKETS FREIGHT FREIGHT TRAFFIC GLOBAL MARKET GOVERNMENT INTERVENTION GROSS DOMESTIC PRODUCT HORIZONTAL INTEGRATION INCOME INCOME DISTRIBUTION INCOME GROUPS INCOME LEVELS INCOME TAXES INCOMES INDUSTRIAL COUNTRIES INDUSTRIAL ECONOMIES INEFFICIENCY INFLATION INFLATION TAX INFLATION TAXES INFORMATION ASYMMETRIES INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INFRASTRUCTURE PRIVATIZATION INFRASTRUCTURE PROJECTS INFRASTRUCTURE REFORM INFRASTRUCTURE REGULATION INSTITUTION BUILDING INSTITUTIONAL CAPACITY JURISDICTIONS LEGISLATION LIBERALIZATION LOCAL GOVERNMENT LONG-DISTANCE LOW-INCOME COUNTRIES MANDATES MARGINAL COSTS MARKET ECONOMY MARKET SHARE MARKET SHARES MIDDLE-INCOME COUNTRIES MINISTRY OF TRANSPORT MONOPOLIES MONOPOLY NATURAL MONOPOLIES NATURAL MONOPOLY NET ASSETS OPERATING EFFICIENCY OUTPUT PENALTIES PORT AUTHORITY PORT INFRASTRUCTURE PORTS POST OFFICES POTENTIAL INVESTORS POWER OUTAGES PRICE CHANGES PRICE INCREASES PRICE RISKS PRIVATE CAPITAL PRIVATE ENTITIES PRIVATE INFRASTRUCTURE PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRIVATIZATION PRIVATIZATIONS PRODUCTIVITY PROFITABILITY PROPERTY RIGHTS PUBLIC PUBLIC DEFICITS PUBLIC ENTERPRISES PUBLIC FINANCES PUBLIC FUNDS PUBLIC GOOD PUBLIC INFRASTRUCTURE PUBLIC POLICY PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SERVICES PUBLIC UTILITIES PUBLIC UTILITY RAIL RAIL INDUSTRY RAIL SYSTEMS RAIL TRACK RAIL USERS RAILROAD RAILROADS RAILWAY RAILWAYS RATE OF RETURN REFORM PROGRAM REGULATOR REGULATORS REGULATORY AGENCIES REGULATORY AGENCY REGULATORY AUTHORITY REGULATORY BODIES REGULATORY FRAMEWORK REGULATORY FRAMEWORKS REGULATORY OVERSIGHT REGULATORY REGIMES REGULATORY SYSTEM REGULATORY SYSTEMS REORGANIZATION RETURN ON EQUITY REVENUE ADEQUACY RISK PREMIUMS ROUTE SAFETY SAFETY NETS SANITATION SAVINGS SCANDALS SEWAGE SOCIAL WELFARE STATE ENTERPRISES STOCK MARKET STOCK MARKET COLLAPSES TAX TAX REVENUE TAX REVENUES TAX SYSTEM TAX SYSTEMS TAXATION TECHNICAL ASSISTANCE TECHNOLOGICAL CHANGES TELECOMMUNICATIONS TELECOMMUNICATIONS REFORM TELECOMMUNICATIONS REGULATION TELEPHONE SERVICES TRAFFIC GROWTH TRANSACTION COSTS TRANSITION ECONOMIES TRANSITION ECONOMY TRANSPARENCY TRANSPORT TRANSPORT COSTS TRANSPORT INFRASTRUCTURE TRANSPORT MODES TRANSPORT NETWORK TRANSPORTATION TRUE VALUE ADDED VERTICAL INTEGRATION WATER SUPPLY WHOLESALE PRICES Kessides, Ioannis N. Infrastructure Privatization and Regulation : Promises and Perils |
| description |
Infrastructure is crucial for generating
growth, alleviating poverty, and increasing international
competitiveness. For much of the twentieth century and in
most countries, the network utilities that delivered
infrastructure services such as electricity, natural gas,
telecommunications, railroads, and water supply were
vertically and horizontally integrated state monopolies. But
this approach often resulted in extremely weak services,
especially in developing and transition economies and
especially for poor people. Common problems included low
productivity, high costs, bad quality, insufficient revenue,
and shortfalls in investment. Over the past two decades many
countries have implemented far-reaching institutional
reforms restructuring, privatizing, and establishing new
approaches to regulation. This article identifies the
challenges involved in this massive policy redirection
within the historical, economic, and institutional context
of developing and transition economies. It also reviews the
outcomes of these policy changes, including their
distributional consequences especially for poor households
and other disadvantaged groups. Drawing on a range of
international experiences and empirical studies, it
recommends directions for future reforms and research to
improve infrastructure performance. |
| format |
Journal Article |
| author |
Kessides, Ioannis N. |
| author_facet |
Kessides, Ioannis N. |
| author_sort |
Kessides, Ioannis N. |
| title |
Infrastructure Privatization and Regulation : Promises and Perils |
| title_short |
Infrastructure Privatization and Regulation : Promises and Perils |
| title_full |
Infrastructure Privatization and Regulation : Promises and Perils |
| title_fullStr |
Infrastructure Privatization and Regulation : Promises and Perils |
| title_full_unstemmed |
Infrastructure Privatization and Regulation : Promises and Perils |
| title_sort |
infrastructure privatization and regulation : promises and perils |
| publisher |
Oxford University Press on behalf of the World Bank |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2005/03/17591908/infrastructure-privatization-regulation-promises-perils http://hdl.handle.net/10986/16404 |
| _version_ |
1764433493825159168 |
| spelling |
okr-10986-164042021-04-23T14:03:30Z Infrastructure Privatization and Regulation : Promises and Perils Kessides, Ioannis N. ACCOUNTABILITY ACCOUNTING ADVANCED ECONOMIES AIRPORT AUDITING AUTONOMY BANKING SECTOR BANKRUPTCY BUDGET DEFICITS CIVIL SERVICE CODES OF CONDUCT COLLUSION COMPARATIVE ADVANTAGE COMPETITIVE MARKET COMPETITIVE MARKETS COMPETITIVENESS CONSUMERS CROSS SUBSIDIES DEBT DEREGULATION DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVELOPMENT ECONOMICS DISTRIBUTIONAL EQUITY ECONOMIC ANALYSIS ECONOMIC DEVELOPMENT ECONOMIC EFFICIENCY ECONOMIC GROWTH ECONOMIC IMPLICATIONS ECONOMIC REFORM ECONOMIC REFORMS ECONOMIC SHOCKS ECONOMIC THEORY ELECTRICITY EMPLOYMENT EXCESS DEMAND EXTERNALITIES FINANCIAL CONSTRAINTS FINANCIAL CRISES FINANCIAL INSTITUTIONS FINANCIAL PERFORMANCE FINANCING OF INFRASTRUCTURE FIXED ASSETS FOREIGN INVESTMENT FREE MARKETS FREIGHT FREIGHT TRAFFIC GLOBAL MARKET GOVERNMENT INTERVENTION GROSS DOMESTIC PRODUCT HORIZONTAL INTEGRATION INCOME INCOME DISTRIBUTION INCOME GROUPS INCOME LEVELS INCOME TAXES INCOMES INDUSTRIAL COUNTRIES INDUSTRIAL ECONOMIES INEFFICIENCY INFLATION INFLATION TAX INFLATION TAXES INFORMATION ASYMMETRIES INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INFRASTRUCTURE PRIVATIZATION INFRASTRUCTURE PROJECTS INFRASTRUCTURE REFORM INFRASTRUCTURE REGULATION INSTITUTION BUILDING INSTITUTIONAL CAPACITY JURISDICTIONS LEGISLATION LIBERALIZATION LOCAL GOVERNMENT LONG-DISTANCE LOW-INCOME COUNTRIES MANDATES MARGINAL COSTS MARKET ECONOMY MARKET SHARE MARKET SHARES MIDDLE-INCOME COUNTRIES MINISTRY OF TRANSPORT MONOPOLIES MONOPOLY NATURAL MONOPOLIES NATURAL MONOPOLY NET ASSETS OPERATING EFFICIENCY OUTPUT PENALTIES PORT AUTHORITY PORT INFRASTRUCTURE PORTS POST OFFICES POTENTIAL INVESTORS POWER OUTAGES PRICE CHANGES PRICE INCREASES PRICE RISKS PRIVATE CAPITAL PRIVATE ENTITIES PRIVATE INFRASTRUCTURE PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRIVATIZATION PRIVATIZATIONS PRODUCTIVITY PROFITABILITY PROPERTY RIGHTS PUBLIC PUBLIC DEFICITS PUBLIC ENTERPRISES PUBLIC FINANCES PUBLIC FUNDS PUBLIC GOOD PUBLIC INFRASTRUCTURE PUBLIC POLICY PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SERVICES PUBLIC UTILITIES PUBLIC UTILITY RAIL RAIL INDUSTRY RAIL SYSTEMS RAIL TRACK RAIL USERS RAILROAD RAILROADS RAILWAY RAILWAYS RATE OF RETURN REFORM PROGRAM REGULATOR REGULATORS REGULATORY AGENCIES REGULATORY AGENCY REGULATORY AUTHORITY REGULATORY BODIES REGULATORY FRAMEWORK REGULATORY FRAMEWORKS REGULATORY OVERSIGHT REGULATORY REGIMES REGULATORY SYSTEM REGULATORY SYSTEMS REORGANIZATION RETURN ON EQUITY REVENUE ADEQUACY RISK PREMIUMS ROUTE SAFETY SAFETY NETS SANITATION SAVINGS SCANDALS SEWAGE SOCIAL WELFARE STATE ENTERPRISES STOCK MARKET STOCK MARKET COLLAPSES TAX TAX REVENUE TAX REVENUES TAX SYSTEM TAX SYSTEMS TAXATION TECHNICAL ASSISTANCE TECHNOLOGICAL CHANGES TELECOMMUNICATIONS TELECOMMUNICATIONS REFORM TELECOMMUNICATIONS REGULATION TELEPHONE SERVICES TRAFFIC GROWTH TRANSACTION COSTS TRANSITION ECONOMIES TRANSITION ECONOMY TRANSPARENCY TRANSPORT TRANSPORT COSTS TRANSPORT INFRASTRUCTURE TRANSPORT MODES TRANSPORT NETWORK TRANSPORTATION TRUE VALUE ADDED VERTICAL INTEGRATION WATER SUPPLY WHOLESALE PRICES Infrastructure is crucial for generating growth, alleviating poverty, and increasing international competitiveness. For much of the twentieth century and in most countries, the network utilities that delivered infrastructure services such as electricity, natural gas, telecommunications, railroads, and water supply were vertically and horizontally integrated state monopolies. But this approach often resulted in extremely weak services, especially in developing and transition economies and especially for poor people. Common problems included low productivity, high costs, bad quality, insufficient revenue, and shortfalls in investment. Over the past two decades many countries have implemented far-reaching institutional reforms restructuring, privatizing, and establishing new approaches to regulation. This article identifies the challenges involved in this massive policy redirection within the historical, economic, and institutional context of developing and transition economies. It also reviews the outcomes of these policy changes, including their distributional consequences especially for poor households and other disadvantaged groups. Drawing on a range of international experiences and empirical studies, it recommends directions for future reforms and research to improve infrastructure performance. 2013-12-19T19:39:07Z 2013-12-19T19:39:07Z 2005-03-01 Journal Article http://documents.worldbank.org/curated/en/2005/03/17591908/infrastructure-privatization-regulation-promises-perils World Bank Research Observer doi:10.1093/wbro/lki003 http://hdl.handle.net/10986/16404 English en_US CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo/ World Bank Oxford University Press on behalf of the World Bank Publications & Research :: Journal Article Publications & Research :: Journal Article |