Infrastructure Concessions in Latin America : Government-led Renegotiations
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...
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| Format: | Publications & Research |
| Language: | English |
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2005/10/6330949/infrastructure-concessions-latin-america-government-led-renegotiations http://hdl.handle.net/10986/8525 |
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okr-10986-85252021-04-23T14:02:43Z Infrastructure Concessions in Latin America : Government-led Renegotiations Guasch, J. Luis Straub, Stéphane 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. 2012-06-20T15:46:27Z 2012-06-20T15:46:27Z 2005-10 http://documents.worldbank.org/curated/en/2005/10/6330949/infrastructure-concessions-latin-america-government-led-renegotiations http://hdl.handle.net/10986/8525 English Policy Research Working Paper; No. 3749 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper Latin America & Caribbean |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| geographic_facet |
Latin America & Caribbean |
| relation |
Policy Research Working Paper; No. 3749 |
| description |
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. |
| format |
Publications & Research |
| author |
Guasch, J. Luis Straub, Stéphane |
| spellingShingle |
Guasch, J. Luis Straub, Stéphane Infrastructure Concessions in Latin America : Government-led Renegotiations |
| author_facet |
Guasch, J. Luis Straub, Stéphane |
| author_sort |
Guasch, J. Luis |
| title |
Infrastructure Concessions in Latin America : Government-led Renegotiations |
| title_short |
Infrastructure Concessions in Latin America : Government-led Renegotiations |
| title_full |
Infrastructure Concessions in Latin America : Government-led Renegotiations |
| title_fullStr |
Infrastructure Concessions in Latin America : Government-led Renegotiations |
| title_full_unstemmed |
Infrastructure Concessions in Latin America : Government-led Renegotiations |
| title_sort |
infrastructure concessions in latin america : government-led renegotiations |
| publisher |
World Bank, Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2005/10/6330949/infrastructure-concessions-latin-america-government-led-renegotiations http://hdl.handle.net/10986/8525 |
| _version_ |
1764407973440913408 |