Private Sector Development, Privatization, and Industrial Policy
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Publication
Kenya's Tourism : Polishing the Jewel
(Washington, Dc, 2010)Kenya's tourism product lines and its source markets function in a cross-sectoral context, which leads to cross-cutting public and private sector issues. Tourism has played a major role in Kenya's development despite economic jolts from time-to-time by internal and external shocks. In 2006 and 2007 the economy grew rapidly and tourism, after a jolt in early 2008, rebounded thanks to market conditions and some solid marketing. The global recession, of course, has since intervened, and Kenya will have to continue with bold and committed actions if it is to regain its iconic position in world tourism. Value chain analysis of safari, coastal, and business and conference tourism highlights constraints and opportunities. Current tourism enterprises are hampered by significant taxation and regulation. Peaks and valleys in tourism flows have exacerbated already limited access to capital necessary for the sector to be competitive. The key to sustainability lies in Kenya's ability to provide a mix of tourism products -safari, coastal, cultural/heritage and business and conference - while protecting the very assets these products celebrate. -
Publication
How to Revitalize Infrastructure Investments in Brazil : Public Policies for Better Private Participation, Volume 1. Main Report
(Washington, DC, 2007-01)Amid a shifting policymaking environment from private to public, volume one of this report discusses how public policies could attract more and better private investments. In attracting back private capital, this report argues that Brazil must do three things. First, it must eliminate remaining regulatory bottlenecks and policy uncertainties in selected sectors. Secondly, design infrastructure concessions to avoid "excessive" renegotiations while simultaneously guaranteeing an adequate rate of return for investors and protecting consumers' welfare. And finally, strengthen the quality of the regulators for technically sound and coherent decision-making processes. Volume two is the background report and looks at infrastructure statistics in Brazil and international benchmarks, regulatory policy issues, contract negotiations, and gives conclusions and policy implications on these topics. -
Publication
How to Revitalize Infrastructure Investments in Brazil : Public Policies for Better Private Participation, Volume 2. Background Report
(Washington, DC, 2007-01)Amid a shifting policymaking environment from private to public, volume one of this report discusses how public policies could attract more and better private investments. In attracting back private capital, this report argues that Brazil must do three things. First, it must eliminate remaining regulatory bottlenecks and policy uncertainties in selected sectors. Secondly, design infrastructure concessions to avoid "excessive" renegotiations while simultaneously guaranteeing an adequate rate of return for investors and protecting consumers' welfare. And finally, strengthen the quality of the regulators for technically sound and coherent decision-making processes. Volume two is the background report and looks at infrastructure statistics in Brazil and international benchmarks, regulatory policy issues, contract negotiations, and gives conclusions and policy implications on these topics. -
Publication
The Cost of Doing Business in Africa : Evidence from the World Bank’s Investment Climate Data
(Washington, DC, 2005-11)This paper looks at firm-level evidence on the African business environment from surveys undertaken for Investment Climate Assessments by the World Bank in 2000-2004. These surveys confirm a pattern of generally low "factory-floor" productivity, and show that this is partly due to business environment-related losses. The surveys also show the importance of high indirect costs in further depressing the "net" productivity of African firms relative to those in other regions. Reforms are moving forward but more slowly than is needed to accelerate growth; this raises the possibility that countries settle into a low-level political equilibrium sustained partly by structural and ethnic cleavages. -
Publication
Infrastructure in Latin America : Recent Developments and Key Challenges, Volume 1
(Washington, DC, 2005-08)In the last decade, most countries in Latin America and the Caribbean (LAC) have not spent enough on infrastructure. Total investment has fallen as a percentage of GDP, as public infrastructure expenditure has borne the brunt of fiscal adjustment, and private investment has failed to take up the slack. Most infrastructure services have therefore lagged behind East Asian comparators, middle income countries in general and China, in terms of both coverage and quality, despite the generally positive impacts of private sector involvement. This lackluster performance has slowed the LAC region's economic growth and progress in poverty reduction. Countries of the region therefore need to focus on upgrading their infrastructure, as this can yield great dividends in terms of growth, competitiveness and poverty reduction, as well as improving the quality of life of their citizens. Catching up requires significant new investment. But first, measures need to be taken to ensure that infrastructure spending produces higher returns, both economic and social. Both these tasks involve multiple challenges. The first section of the main report reviews progress made in infrastructure coverage and quality and discusses the impacts this has had on growth, competitiveness and the fight against poverty. The second section argues that the main issue has been that there has not been enough improvement in the management of resources, which have been insufficient anyway, and also reviews the region's experiences with private participation in infrastructure. The third section builds on the lessons of the last decade to tackle the key challenges: improving social and economic returns from infrastructure, managing private participation in infrastructure better and raising new finance for infrastructure.