Publication:
Public Money for Private Infrastructure : Deciding When to Offer Guarantees, Output-based Subsidies, and Other Fiscal Support

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dc.contributor.authorIrwin, Timothy
dc.date.accessioned2013-08-16T15:46:22Z
dc.date.available2013-08-16T15:46:22Z
dc.date.issued2003-08
dc.description.abstractWhen governments seek private investment in infrastructure projects, they usually find themselves asked to provide grants, guarantees, or other forms of fiscal support. Often they prefer to provide support in ways that limit immediate cash expenditure but sometimes generate large costs later. Seeking to provide support without any immediate spending of cash, for example, governments often agree to shoulder project risks and sometimes encounter fiscal problems later. For example, in the 1970s and 1980s in Spain, the government was obliged to pay $2.7 billion when the exchange-rate guarantees it had given private toll roads were called (Gomez-Ibanez 1993). More recently, the Indonesian government agreed to pay $260 million as a result of its agreements, through the electricity company it owns, to bear demand and foreign-exchange risks in private power projects. Yet even when governments have chosen to provide cash subsidies they have not always achieved their apparent goals: for example, over 80 percent of the Honduran government's "lifeline" electricity subsidies go to customers who aren't poor (Wodon et al. 2003). In still other cases, governments' decisions not to provide support may have caused problems.en
dc.identifierhttp://documents.worldbank.org/curated/en/2003/08/2492949/public-money-private-infrastructure-deciding-offer-guarantees-output-based-subsidies-other-fiscal-support
dc.identifier.doi10.1596/0-8213-5556-2
dc.identifier.isbn0-8213-5556-2
dc.identifier.urihttps://hdl.handle.net/10986/15117
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.relation.ispartofseriesWorld Bank Working Paper;No. 10
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectGUARANTEES
dc.subjectSUBSIDIES
dc.subjectFISCAL SUSTAINABILITY
dc.subjectFINANCING PROGRAMS
dc.subjectPOLITICAL RISKS
dc.subjectPOLITICAL CONSTRAINTS
dc.subjectGRANTS
dc.subjectCASH MANAGEMENT
dc.subjectTAX BREAKS
dc.subjectINFORMATION DISSEMINATION
dc.subjectFOREIGN EXCHANGE
dc.subjectSTATE OWNED ENTERPRISES
dc.subjectTARIFFS
dc.subjectPRIVATE OWNERSHIP
dc.subjectREGULATORY FRAMEWORK ACCOUNTABILITY
dc.subjectACCOUNTING PROCEDURES
dc.subjectACCRUAL ACCOUNTING
dc.subjectADVERSE SELECTION
dc.subjectAIRPORTS
dc.subjectBALANCE SHEET
dc.subjectBANKS
dc.subjectBARRIERS TO ENTRY
dc.subjectBENEFIT ANALYSIS
dc.subjectCASH FLOWS
dc.subjectCOMPETITIVE MARKETS
dc.subjectCOST OF CAPITAL
dc.subjectCOST-BENEFIT ANALYSES
dc.subjectDEBT
dc.subjectDISCLOSURE
dc.subjectDISCOUNT RATE
dc.subjectELECTRICITY
dc.subjectEXPECTED RETURNS
dc.subjectEXPENDITURES
dc.subjectEXTERNALITIES
dc.subjectEXTERNALITY
dc.subjectFINANCIAL MARKETS
dc.subjectFISCAL PROBLEMS
dc.subjectFISCAL TRANSPARENCY
dc.subjectGOVERNMENT GUARANTEES
dc.subjectINSURANCE
dc.subjectINTEREST RATE
dc.subjectINTEREST RATES
dc.subjectLICENSES
dc.subjectLIVING STANDARDS
dc.subjectMARKET PRICES
dc.subjectMARKET VALUE
dc.subjectMATURITIES
dc.subjectMORAL HAZARD
dc.subjectNET ASSETS
dc.subjectNET LOSS
dc.subjectOPPORTUNITY COST
dc.subjectPOLICY ENVIRONMENT
dc.subjectPOSITIVE EXTERNALITIES
dc.subjectPRESENT VALUE
dc.subjectPRICE INCREASES
dc.subjectPRIVATE SECTOR
dc.subjectPRIVATIZATION
dc.subjectPROFITABILITY
dc.subjectPROPERTY RIGHTS
dc.subjectPUBLIC RESOURCES
dc.subjectREVENUE GUARANTEES
dc.subjectROADS
dc.subjectTAX
dc.subjectTAX RATES
dc.subjectTAX REVENUE
dc.subjectTELECOMMUNICATIONS
dc.subjectTRADEOFFS
dc.subjectUTILITIES
dc.titlePublic Money for Private Infrastructure : Deciding When to Offer Guarantees, Output-based Subsidies, and Other Fiscal Supporten
dspace.entity.typePublication
okr.doctypePublications & Research::Publication
okr.doctypePublications & Research::Publication
okr.docurlhttp://documents.worldbank.org/curated/en/2003/08/2492949/public-money-private-infrastructure-deciding-offer-guarantees-output-based-subsidies-other-fiscal-support
okr.globalpracticeSocial, Urban, Rural and Resilience
okr.globalpracticeGovernance
okr.globalpracticeFinance and Markets
okr.guid488451468765857458
okr.identifier.doi10.1596/0-8213-5556-2
okr.identifier.externaldocumentum000094946_0308270401014
okr.identifier.internaldocumentum2492949
okr.identifier.report26601
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2003/09/06/000094946_0308270401014/Rendered/PDF/multi0page.pdfen
okr.topicEconomic Theory and Research
okr.topicBanks and Banking Reform
okr.topicEnvironmental Economics and Policies
okr.topicPublic Sector Economics and Finance
okr.topicUrban Development::Municipal Financial Management
okr.topicFinance and Financial Sector Development
okr.unitOffice of the Vice President (SDNVP)
okr.volume1
relation.isAuthorOfPublication4cdd14e3-d673-5b41-bfda-166d60c2e404
relation.isAuthorOfPublication.latestForDiscovery4cdd14e3-d673-5b41-bfda-166d60c2e404
relation.isSeriesOfPublication3e126efc-de2f-4a95-be5b-bd2e430a4843
relation.isSeriesOfPublication.latestForDiscovery3e126efc-de2f-4a95-be5b-bd2e430a4843
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