Renegotiation of Concession Contracts in Latin America

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 e...

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Main Authors:	Guasch, J. Luis, Laffont, Jean-Jacques, Straub, Stephane
Format:	Journal Article
Language:	EN
Published:	2012
Subjects:	National Government Expenditures and Related Policies: Infrastructures Other Public Investment and Capital Stock H540 Comparison of Public and Private Enterprises Privatization Contracting Out L330 Formal and Informal Sectors Shadow Economy Institutional Arrangements O170
Online Access:	http://hdl.handle.net/10986/5802

id	okr-10986-5802
recordtype	oai_dc
spelling	okr-10986-58022021-04-23T14:02:23Z Renegotiation of Concession Contracts in Latin America Guasch, J. Luis Laffont, Jean-Jacques Straub, Stephane National Government Expenditures and Related Policies: Infrastructures Other Public Investment and Capital Stock H540 Comparison of Public and Private Enterprises Privatization Contracting Out L330 Formal and Informal Sectors Shadow Economy Institutional Arrangements O170 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. 2012-03-30T07:34:37Z 2012-03-30T07:34:37Z 2008 Journal Article International Journal of Industrial Organization 01677187 http://hdl.handle.net/10986/5802 EN http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Journal Article Latin America & Caribbean
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	EN
topic	National Government Expenditures and Related Policies: Infrastructures Other Public Investment and Capital Stock H540 Comparison of Public and Private Enterprises Privatization Contracting Out L330 Formal and Informal Sectors Shadow Economy Institutional Arrangements O170
spellingShingle	National Government Expenditures and Related Policies: Infrastructures Other Public Investment and Capital Stock H540 Comparison of Public and Private Enterprises Privatization Contracting Out L330 Formal and Informal Sectors Shadow Economy Institutional Arrangements O170 Guasch, J. Luis Laffont, Jean-Jacques Straub, Stephane Renegotiation of Concession Contracts in Latin America
geographic_facet	Latin America & Caribbean
relation	http://creativecommons.org/licenses/by-nc-nd/3.0/igo
description	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.
format	Journal Article
author	Guasch, J. Luis Laffont, Jean-Jacques Straub, Stephane
author_facet	Guasch, J. Luis Laffont, Jean-Jacques Straub, Stephane
author_sort	Guasch, J. Luis
title	Renegotiation of Concession Contracts in Latin America
title_short	Renegotiation of Concession Contracts in Latin America
title_full	Renegotiation of Concession Contracts in Latin America
title_fullStr	Renegotiation of Concession Contracts in Latin America
title_full_unstemmed	Renegotiation of Concession Contracts in Latin America
title_sort	renegotiation of concession contracts in latin america
publishDate	2012
url	http://hdl.handle.net/10986/5802
_version_	1764396351706103808

Renegotiation of Concession Contracts in Latin America

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