Public-Private Partnerships in Transport

This paper summarizes the evidence on the evolution of transport PPPs over the last 15 years or so. In the process, it provides a primer on the associated policy issues, including of the central role of project finance in the implementation of PPP...

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Bibliographic Details
Main Authors:	Estache, Antonio, Juan, Ellis, Trujillo, Lourdes
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ACCOUNTING ACQUISITION OF RIGHT-OF-WAY AFFILIATE AFFORDABILITY AIRPORT AIRPORTS AMOUNT OF DEBT AMOUNT OF RISK ARBITRATION AUCTIONS AUTOMATIC TOLL COLLECTION BAILOUTS BALANCE SHEET BALANCE SHEETS BANK DEBT BANKRUPTCY BID BIDS BOND BORDER CROSSINGS BORROWING COSTS BORROWINGS BOTTLENECKS CAPITAL EXPENDITURES CAPITAL FLOWS CAPITAL INVESTMENTS CAPITAL STRUCTURES CASH FLOWS CENTRAL BANK COLLATERAL COMMERCIAL BANKS COMMERCIAL LENDING CONGESTION CONTRACT DISPUTES CONTRACT RENEGOTIATIONS CONTRACTUAL OBLIGATIONS COST OF CAPITAL CREDIBILITY CREDIT AGENCIES CREDIT RISK CREDITORS CREDITS CURRENCY RISK CURRENCY RISKS DEBT CAPITAL DEBT FINANCE DEBT FINANCING DEBT RATIOS DEBT RESTRUCTURING DEBT SERVICE DEBT SERVICING DEBTS DERIVATIVE DERIVATIVE PRODUCTS DEVELOPING COUNTRIES DEVELOPMENT FINANCE DEVELOPMENT FINANCE INSTITUTIONS DISPUTE RESOLUTION DOMESTIC CAPITAL DOMESTIC CAPITAL MARKETS DRIVING DUE DILIGENCE ECONOMIC ACTIVITY ELASTICITY EMERGING BOND MARKETS EMERGING MARKETS EQUIPMENT EQUITY CONTRIBUTION EQUITY CONTRIBUTIONS EQUITY FINANCE EQUITY INVESTMENT EQUITY INVESTORS ESCROW EXCHANGE RATE EXCHANGE RATES EXPENDITURES EXPROPRIATION EXTERNALITIES FINANCES FINANCIAL CRISES FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL RISK FINANCIAL STATEMENTS FINANCIAL SUPPORT FOREIGN CAPITAL FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE RISKS FOREIGN FINANCING FORGIVENESS FREIGHT FREIGHT RAIL FREIGHT TRANSPORT FUNDING SOURCE GOVERNMENT GUARANTEES GOVERNMENT SUPPORT HIGHWAY HOST GOVERNMENT HUMAN CAPITAL HUMAN RESOURCES INCOME ELASTICITY INCOME LEVELS INFLATION INFRASTRUCTURE CONCESSION INFRASTRUCTURE CONCESSIONS INFRASTRUCTURE PROJECTS INSTITUTIONAL CAPACITY INSTRUMENT INSURANCE INSURANCE COMPANIES INTEREST PAYMENTS INTEREST RATE INTEREST RATE RISK INTEREST RATES INTERNATIONAL BANK INTERNATIONAL MARKETS INVESTMENT BANKERS INVESTMENT BANKS INVESTMENT CHOICE INVESTMENT DECISIONS INVESTMENT REQUIREMENTS LABOR COSTS LAND TRANSPORT LAND VALUES LAWS LEGAL INSTRUMENTS LEGISLATION LENDER LENDERS LEVEL OF CONFIDENCE LEVEL OF RISK LEVEL OF RISKS LIABILITY LIQUIDITY LIQUIDITY CRISIS LOAN LOCAL CURRENCY LOCAL INVESTORS LONG-TERM DEBT MACROECONOMIC CONDITIONS MACROECONOMIC RISK MANDATES MEZZANINE CAPITAL MORTGAGE MUNICIPALITIES MUTUAL FUNDS OPERATING COSTS OPPORTUNITY COST PASSENGER RAIL PASSENGER TRANSPORT PENSION PENSION ASSETS POLITICAL ECONOMY POLITICAL RISK POLITICAL RISKS POLLUTION PORT AUTHORITIES PORTFOLIO POTENTIAL EXPOSURE PRIVATE CAPITAL PRIVATE FINANCE PRIVATE FINANCING PRIVATE INVESTORS PRIVATE ROADS PRIVATIZATION PRODUCTIVITY PROFITABILITY PUBLIC BUDGET PUBLIC FACILITIES PUBLIC FINANCE PUBLIC FUNDS PUBLIC PARTICIPATION PUBLIC POLICY PUBLIC SECTOR BORROWING PUBLIC SERVICES PUBLIC TRANSPORT PUBLIC UTILITIES PUBLIC WORKS PUBLIC-PRIVATE PARTNERSHIPS RAIL RAIL SERVICES RAILWAYS RATE OF RETURN RATES OF RETURN REGIONAL DEVELOPMENT BANKS REGULATORY OVERSIGHT RENEGOTIATION REPAYMENT RESERVES RETURN RETURN ON EQUITY RETURN ON INVESTMENT RETURNS REVENUE SHARING RISK EXPOSURE RISK MANAGEMENT RISK PREMIUMS RISK SHARING ROAD DEVELOPMENT ROAD PROJECTS ROAD SECTOR ROAD TOLLS ROLLING STOCK SHAREHOLDERS SHORT-TERM DEBT SUBORDINATED DEBT TAX TELECOMMUNICATIONS TOLL TOLL ROAD TOLL ROADS TOLLS TRAFFIC TRAFFIC GROWTH TRAFFIC LEVEL TRAFFIC LEVELS TRAFFIC RISK TRAFFIC VOLUMES TRANSACTION TRANSACTION COSTS TRANSIT TRANSPORT TRANSPORT ACTIVITIES TRANSPORT INFRASTRUCTURE TRANSPORT INFRASTRUCTURES TRANSPORT POLICY TRANSPORT PROJECTS TRANSPORT SECTOR TRANSPORT SERVICES TRANSPORTATION TRIPS TRUE URBAN TRANSPORT VEHICLE
Online Access:	http://documents.worldbank.org/curated/en/2007/12/8876072/public-private-partnerships-transport http://hdl.handle.net/10986/7602

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Summary:	This paper summarizes the evidence on the evolution of transport PPPs over the last 15 years or so. In the process, it provides a primer on the associated policy issues, including of the central role of project finance in the implementation of PPP policies and the debates on risk allocation in the design of PPPs. The paper also offers a discussion of the increasingly well recognized residual roles for the public sector in transport, with an emphasis on the regulatory debates surrounding the adoption of PPPs.

Public-Private Partnerships in Transport

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