Institutional Investment in Infrastructure in Developing Countries : Introduction to Potential Models
The link between infrastructure and economic growth is widely acknowledged -- as is the infrastructure gap, which can act as a break on growth in emerging markets and developing economies (EMDEs). Since the global economic and financial crisis, the...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2014/02/18983758/institutional-investment-infrastructure-developing-countries-introduction-potential-models http://hdl.handle.net/10986/18358 |
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okr-10986-18358 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
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World Bank |
| language |
English en_US |
| topic |
ADVANCED ECONOMIES ASSET CLASS ASSET CLASSES ASSET MANAGERS BANK ASSETS BANK LENDING BANK POLICY BEST MARKET BOND INSURANCE BOND RATINGS BONDS BORROWING COSTS CAPACITY BUILDING CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKET ACTIVITY CAPITAL MARKET DEVELOPMENT CAPITAL STOCK CASH FLOW CASH FLOWS COMMERCIAL BANKS COMMERCIAL FUNDING CONFLICTS OF INTEREST CORPORATE BOND CORPORATE BOND INVESTMENTS CORPORATE BONDS COUPON CREDIT ENHANCEMENT CREDIT GUARANTEES CREDIT RATING CREDIT RATINGS CREDITOR DEBT DEMOGRAPHIC DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DEVELOPMENT BANK DIRECT INVESTMENT DOMESTIC CAPITAL DOMESTIC CAPITAL MARKETS DOMESTIC ECONOMIES DOMESTIC INSTITUTIONAL INVESTORS DOMESTIC MARKETS DUE DILIGENCE ECONOMIC CRISIS EMERGING MARKET EMERGING MARKET ECONOMIES EMERGING MARKETS ENABLING ENVIRONMENT EQUITIES EQUITY FUND EQUITY FUNDS EQUITY HOLDINGS EQUITY INVESTMENTS EXPROPRIATION EXPROPRIATION RISKS FINANCE CORPORATION FINANCIAL COMPANIES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL SECTOR FLOW OF CAPITAL FOREIGN EXCHANGE FOREIGN EXCHANGE RISK FOREIGN INVESTORS FUND MANAGERS GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GLOBAL PENSIONS GOVERNMENT BONDS GOVERNMENT EXPENDITURES GOVERNMENT FINANCES GOVERNMENT POLICY GRACE PERIODS ILLIQUIDITY INCOME INCOME STREAMS INFLATION INFRASTRUCTURE BOND INFRASTRUCTURE BONDS INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE FINANCE INFRASTRUCTURE FINANCING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INFRASTRUCTURE PROJECT INFRASTRUCTURE PROJECTS INSTITUTIONAL INFRASTRUCTURE INSTITUTIONAL INVESTMENT INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INSURANCE PENETRATION INSURANCE PRODUCTS INSURER INSURERS INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL BEST PRACTICES INTERNATIONAL COMPETITION INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL INSTITUTIONAL INVESTORS INTERNATIONAL INVESTORS INVESTING INVESTMENT APPROACHES INVESTMENT BARRIERS INVESTMENT CAPITAL INVESTMENT FINANCING INVESTMENT GOVERNANCE INVESTMENT OPPORTUNITIES INVESTMENT POLICIES INVESTMENT REGULATIONS INVESTMENT RISK INVESTMENT VEHICLE INVESTMENT VEHICLES INVESTMENT VOLUMES INVESTOR BASE IPO ISSUANCE LEGAL MECHANISM LIQUID ASSETS LIQUIDITY LOCAL INVESTORS LOCAL MARKETS LONG TERM BOND LONG-TERM CAPITAL LONG-TERM FINANCE LONG-TERM INVESTMENT MARKET CAP MARKET FAILURES MARKET INFRASTRUCTURE MARKET PRACTICE MARKET RETURNS MATURITIES MONETARY POLICY MULTILATERAL DEVELOPMENT MUNICIPAL BONDS MUTUAL FUNDS NATURAL RESOURCE PARTIAL CREDIT PARTIAL CREDIT GUARANTEES PARTIAL RISK PARTICULAR COUNTRY PENSION PENSION ASSETS PENSION FUND PENSION FUND INVESTMENT PENSION FUNDS PENSION SYSTEM PENSION SYSTEMS PENSIONS POLITICAL ECONOMY POLITICAL RISKS POOLS OF CAPITAL PORTFOLIO PORTFOLIO EXPOSURE PORTFOLIO GROWTH PORTFOLIOS POTENTIAL INVESTMENT POTENTIAL INVESTMENTS PRIVATE CAPITAL PRIVATE CREDIT PRIVATE EQUITY PRIVATE FINANCE PRIVATE FINANCING PRIVATE INFRASTRUCTURE PRIVATE SECTOR DEVELOPMENT PRIVATE SECTOR FINANCE PRIVATE SECTOR INVESTORS PRIVATIZATION PUBLIC BANK PUBLIC INVESTMENT RAPID GROWTH REGIONAL BOND MARKET REGULATORY CONSTRAINTS REGULATORY ENVIRONMENT REGULATORY RESTRICTIONS REGULATORY STANDARDS REGULATORY SYSTEMS RENEWABLE ENERGY RESERVE RESERVE FUNDS RETURN RETURNS RISK PREMIUM RISK-FREE INVESTMENTS SAVINGS SMALL BUSINESSES SMALL COUNTRIES SOCIAL DEVELOPMENT SOVEREIGN BONDS SOVEREIGN RISK STOCK EXCHANGES STOCK MARKET STOCKS TECHNICAL ASSISTANCE TERMS OF CREDIT TRADITIONAL INVESTMENT TRUST FUNDS |
| spellingShingle |
ADVANCED ECONOMIES ASSET CLASS ASSET CLASSES ASSET MANAGERS BANK ASSETS BANK LENDING BANK POLICY BEST MARKET BOND INSURANCE BOND RATINGS BONDS BORROWING COSTS CAPACITY BUILDING CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKET ACTIVITY CAPITAL MARKET DEVELOPMENT CAPITAL STOCK CASH FLOW CASH FLOWS COMMERCIAL BANKS COMMERCIAL FUNDING CONFLICTS OF INTEREST CORPORATE BOND CORPORATE BOND INVESTMENTS CORPORATE BONDS COUPON CREDIT ENHANCEMENT CREDIT GUARANTEES CREDIT RATING CREDIT RATINGS CREDITOR DEBT DEMOGRAPHIC DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DEVELOPMENT BANK DIRECT INVESTMENT DOMESTIC CAPITAL DOMESTIC CAPITAL MARKETS DOMESTIC ECONOMIES DOMESTIC INSTITUTIONAL INVESTORS DOMESTIC MARKETS DUE DILIGENCE ECONOMIC CRISIS EMERGING MARKET EMERGING MARKET ECONOMIES EMERGING MARKETS ENABLING ENVIRONMENT EQUITIES EQUITY FUND EQUITY FUNDS EQUITY HOLDINGS EQUITY INVESTMENTS EXPROPRIATION EXPROPRIATION RISKS FINANCE CORPORATION FINANCIAL COMPANIES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL SECTOR FLOW OF CAPITAL FOREIGN EXCHANGE FOREIGN EXCHANGE RISK FOREIGN INVESTORS FUND MANAGERS GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GLOBAL PENSIONS GOVERNMENT BONDS GOVERNMENT EXPENDITURES GOVERNMENT FINANCES GOVERNMENT POLICY GRACE PERIODS ILLIQUIDITY INCOME INCOME STREAMS INFLATION INFRASTRUCTURE BOND INFRASTRUCTURE BONDS INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE FINANCE INFRASTRUCTURE FINANCING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INFRASTRUCTURE PROJECT INFRASTRUCTURE PROJECTS INSTITUTIONAL INFRASTRUCTURE INSTITUTIONAL INVESTMENT INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INSURANCE PENETRATION INSURANCE PRODUCTS INSURER INSURERS INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL BEST PRACTICES INTERNATIONAL COMPETITION INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL INSTITUTIONAL INVESTORS INTERNATIONAL INVESTORS INVESTING INVESTMENT APPROACHES INVESTMENT BARRIERS INVESTMENT CAPITAL INVESTMENT FINANCING INVESTMENT GOVERNANCE INVESTMENT OPPORTUNITIES INVESTMENT POLICIES INVESTMENT REGULATIONS INVESTMENT RISK INVESTMENT VEHICLE INVESTMENT VEHICLES INVESTMENT VOLUMES INVESTOR BASE IPO ISSUANCE LEGAL MECHANISM LIQUID ASSETS LIQUIDITY LOCAL INVESTORS LOCAL MARKETS LONG TERM BOND LONG-TERM CAPITAL LONG-TERM FINANCE LONG-TERM INVESTMENT MARKET CAP MARKET FAILURES MARKET INFRASTRUCTURE MARKET PRACTICE MARKET RETURNS MATURITIES MONETARY POLICY MULTILATERAL DEVELOPMENT MUNICIPAL BONDS MUTUAL FUNDS NATURAL RESOURCE PARTIAL CREDIT PARTIAL CREDIT GUARANTEES PARTIAL RISK PARTICULAR COUNTRY PENSION PENSION ASSETS PENSION FUND PENSION FUND INVESTMENT PENSION FUNDS PENSION SYSTEM PENSION SYSTEMS PENSIONS POLITICAL ECONOMY POLITICAL RISKS POOLS OF CAPITAL PORTFOLIO PORTFOLIO EXPOSURE PORTFOLIO GROWTH PORTFOLIOS POTENTIAL INVESTMENT POTENTIAL INVESTMENTS PRIVATE CAPITAL PRIVATE CREDIT PRIVATE EQUITY PRIVATE FINANCE PRIVATE FINANCING PRIVATE INFRASTRUCTURE PRIVATE SECTOR DEVELOPMENT PRIVATE SECTOR FINANCE PRIVATE SECTOR INVESTORS PRIVATIZATION PUBLIC BANK PUBLIC INVESTMENT RAPID GROWTH REGIONAL BOND MARKET REGULATORY CONSTRAINTS REGULATORY ENVIRONMENT REGULATORY RESTRICTIONS REGULATORY STANDARDS REGULATORY SYSTEMS RENEWABLE ENERGY RESERVE RESERVE FUNDS RETURN RETURNS RISK PREMIUM RISK-FREE INVESTMENTS SAVINGS SMALL BUSINESSES SMALL COUNTRIES SOCIAL DEVELOPMENT SOVEREIGN BONDS SOVEREIGN RISK STOCK EXCHANGES STOCK MARKET STOCKS TECHNICAL ASSISTANCE TERMS OF CREDIT TRADITIONAL INVESTMENT TRUST FUNDS Inderst, Georg Stewart, Fiona Institutional Investment in Infrastructure in Developing Countries : Introduction to Potential Models |
| relation |
Policy Research Working Paper;No. 6780 |
| description |
The link between infrastructure and
economic growth is widely acknowledged -- as is the
infrastructure gap, which can act as a break on growth in
emerging markets and developing economies (EMDEs). Since the
global economic and financial crisis, the challenges of
raising financing for infrastructure projects in EMDEs are
also well known. The challenges come from stretched
government finances and restrictions on global bank lending.
Hence much attention has been focused on the potential for
institutional investors as a growing potential source of
financing. This paper argues that infrastructure projects
can potentially deliver long-term returns, but investments,
particularly in EMDEs need to be carefully structured to
meet the needs of both sides. The paper first considers the
existing types of institutional investors and their
potential for filling the infrastructure financing gap. The
challenges of adjusting asset allocations, particularly
toward EMDE infrastructure, are discussed and examples of
projects where institutional investors have been involved
are given. Finally, the paper considers a range of models
for the involvement of institutional investors in EMDEs and
makes initial proposals for how to determine which model
fits best in a particular country context. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Inderst, Georg Stewart, Fiona |
| author_facet |
Inderst, Georg Stewart, Fiona |
| author_sort |
Inderst, Georg |
| title |
Institutional Investment in Infrastructure in Developing Countries : Introduction to Potential Models |
| title_short |
Institutional Investment in Infrastructure in Developing Countries : Introduction to Potential Models |
| title_full |
Institutional Investment in Infrastructure in Developing Countries : Introduction to Potential Models |
| title_fullStr |
Institutional Investment in Infrastructure in Developing Countries : Introduction to Potential Models |
| title_full_unstemmed |
Institutional Investment in Infrastructure in Developing Countries : Introduction to Potential Models |
| title_sort |
institutional investment in infrastructure in developing countries : introduction to potential models |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2014/02/18983758/institutional-investment-infrastructure-developing-countries-introduction-potential-models http://hdl.handle.net/10986/18358 |
| _version_ |
1764441553322901504 |
| spelling |
okr-10986-183582021-04-23T14:03:46Z Institutional Investment in Infrastructure in Developing Countries : Introduction to Potential Models Inderst, Georg Stewart, Fiona ADVANCED ECONOMIES ASSET CLASS ASSET CLASSES ASSET MANAGERS BANK ASSETS BANK LENDING BANK POLICY BEST MARKET BOND INSURANCE BOND RATINGS BONDS BORROWING COSTS CAPACITY BUILDING CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKET ACTIVITY CAPITAL MARKET DEVELOPMENT CAPITAL STOCK CASH FLOW CASH FLOWS COMMERCIAL BANKS COMMERCIAL FUNDING CONFLICTS OF INTEREST CORPORATE BOND CORPORATE BOND INVESTMENTS CORPORATE BONDS COUPON CREDIT ENHANCEMENT CREDIT GUARANTEES CREDIT RATING CREDIT RATINGS CREDITOR DEBT DEMOGRAPHIC DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DEVELOPMENT BANK DIRECT INVESTMENT DOMESTIC CAPITAL DOMESTIC CAPITAL MARKETS DOMESTIC ECONOMIES DOMESTIC INSTITUTIONAL INVESTORS DOMESTIC MARKETS DUE DILIGENCE ECONOMIC CRISIS EMERGING MARKET EMERGING MARKET ECONOMIES EMERGING MARKETS ENABLING ENVIRONMENT EQUITIES EQUITY FUND EQUITY FUNDS EQUITY HOLDINGS EQUITY INVESTMENTS EXPROPRIATION EXPROPRIATION RISKS FINANCE CORPORATION FINANCIAL COMPANIES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL SECTOR FLOW OF CAPITAL FOREIGN EXCHANGE FOREIGN EXCHANGE RISK FOREIGN INVESTORS FUND MANAGERS GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GLOBAL PENSIONS GOVERNMENT BONDS GOVERNMENT EXPENDITURES GOVERNMENT FINANCES GOVERNMENT POLICY GRACE PERIODS ILLIQUIDITY INCOME INCOME STREAMS INFLATION INFRASTRUCTURE BOND INFRASTRUCTURE BONDS INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE FINANCE INFRASTRUCTURE FINANCING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INFRASTRUCTURE PROJECT INFRASTRUCTURE PROJECTS INSTITUTIONAL INFRASTRUCTURE INSTITUTIONAL INVESTMENT INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INSURANCE PENETRATION INSURANCE PRODUCTS INSURER INSURERS INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL BEST PRACTICES INTERNATIONAL COMPETITION INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL INSTITUTIONAL INVESTORS INTERNATIONAL INVESTORS INVESTING INVESTMENT APPROACHES INVESTMENT BARRIERS INVESTMENT CAPITAL INVESTMENT FINANCING INVESTMENT GOVERNANCE INVESTMENT OPPORTUNITIES INVESTMENT POLICIES INVESTMENT REGULATIONS INVESTMENT RISK INVESTMENT VEHICLE INVESTMENT VEHICLES INVESTMENT VOLUMES INVESTOR BASE IPO ISSUANCE LEGAL MECHANISM LIQUID ASSETS LIQUIDITY LOCAL INVESTORS LOCAL MARKETS LONG TERM BOND LONG-TERM CAPITAL LONG-TERM FINANCE LONG-TERM INVESTMENT MARKET CAP MARKET FAILURES MARKET INFRASTRUCTURE MARKET PRACTICE MARKET RETURNS MATURITIES MONETARY POLICY MULTILATERAL DEVELOPMENT MUNICIPAL BONDS MUTUAL FUNDS NATURAL RESOURCE PARTIAL CREDIT PARTIAL CREDIT GUARANTEES PARTIAL RISK PARTICULAR COUNTRY PENSION PENSION ASSETS PENSION FUND PENSION FUND INVESTMENT PENSION FUNDS PENSION SYSTEM PENSION SYSTEMS PENSIONS POLITICAL ECONOMY POLITICAL RISKS POOLS OF CAPITAL PORTFOLIO PORTFOLIO EXPOSURE PORTFOLIO GROWTH PORTFOLIOS POTENTIAL INVESTMENT POTENTIAL INVESTMENTS PRIVATE CAPITAL PRIVATE CREDIT PRIVATE EQUITY PRIVATE FINANCE PRIVATE FINANCING PRIVATE INFRASTRUCTURE PRIVATE SECTOR DEVELOPMENT PRIVATE SECTOR FINANCE PRIVATE SECTOR INVESTORS PRIVATIZATION PUBLIC BANK PUBLIC INVESTMENT RAPID GROWTH REGIONAL BOND MARKET REGULATORY CONSTRAINTS REGULATORY ENVIRONMENT REGULATORY RESTRICTIONS REGULATORY STANDARDS REGULATORY SYSTEMS RENEWABLE ENERGY RESERVE RESERVE FUNDS RETURN RETURNS RISK PREMIUM RISK-FREE INVESTMENTS SAVINGS SMALL BUSINESSES SMALL COUNTRIES SOCIAL DEVELOPMENT SOVEREIGN BONDS SOVEREIGN RISK STOCK EXCHANGES STOCK MARKET STOCKS TECHNICAL ASSISTANCE TERMS OF CREDIT TRADITIONAL INVESTMENT TRUST FUNDS The link between infrastructure and economic growth is widely acknowledged -- as is the infrastructure gap, which can act as a break on growth in emerging markets and developing economies (EMDEs). Since the global economic and financial crisis, the challenges of raising financing for infrastructure projects in EMDEs are also well known. The challenges come from stretched government finances and restrictions on global bank lending. Hence much attention has been focused on the potential for institutional investors as a growing potential source of financing. This paper argues that infrastructure projects can potentially deliver long-term returns, but investments, particularly in EMDEs need to be carefully structured to meet the needs of both sides. The paper first considers the existing types of institutional investors and their potential for filling the infrastructure financing gap. The challenges of adjusting asset allocations, particularly toward EMDE infrastructure, are discussed and examples of projects where institutional investors have been involved are given. Finally, the paper considers a range of models for the involvement of institutional investors in EMDEs and makes initial proposals for how to determine which model fits best in a particular country context. 2014-05-15T18:32:27Z 2014-05-15T18:32:27Z 2014-02 http://documents.worldbank.org/curated/en/2014/02/18983758/institutional-investment-infrastructure-developing-countries-introduction-potential-models http://hdl.handle.net/10986/18358 English en_US Policy Research Working Paper;No. 6780 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research |