Publication:
Infrastructure Privatization and Regulation : Promises and Perils

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dc.contributor.authorKessides, Ioannis N.
dc.date.accessioned2013-12-19T19:39:07Z
dc.date.available2013-12-19T19:39:07Z
dc.date.issued2005-03-01
dc.description.abstractInfrastructure is crucial for generating growth, alleviating poverty, and increasing international competitiveness. For much of the twentieth century and in most countries, the network utilities that delivered infrastructure services such as electricity, natural gas, telecommunications, railroads, and water supply were vertically and horizontally integrated state monopolies. But this approach often resulted in extremely weak services, especially in developing and transition economies and especially for poor people. Common problems included low productivity, high costs, bad quality, insufficient revenue, and shortfalls in investment. Over the past two decades many countries have implemented far-reaching institutional reforms restructuring, privatizing, and establishing new approaches to regulation. This article identifies the challenges involved in this massive policy redirection within the historical, economic, and institutional context of developing and transition economies. It also reviews the outcomes of these policy changes, including their distributional consequences especially for poor households and other disadvantaged groups. Drawing on a range of international experiences and empirical studies, it recommends directions for future reforms and research to improve infrastructure performance.en
dc.identifierhttp://documents.worldbank.org/curated/en/2005/03/17591908/infrastructure-privatization-regulation-promises-perils
dc.identifier.citationWorld Bank Research Observer
dc.identifier.doi10.1596/16404
dc.identifier.otherdoi:10.1093/wbro/lki003
dc.identifier.urihttps://hdl.handle.net/10986/16404
dc.languageEnglish
dc.language.isoen_US
dc.publisherOxford University Press on behalf of the World Bank
dc.relation.ispartofseriesWorld Bank Research Observer
dc.rightsCC BY-NC-ND 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/igo/
dc.subjectACCOUNTABILITY
dc.subjectACCOUNTING
dc.subjectADVANCED ECONOMIES
dc.subjectAIRPORT
dc.subjectAUDITING
dc.subjectAUTONOMY
dc.subjectBANKING SECTOR
dc.subjectBANKRUPTCY
dc.subjectBUDGET DEFICITS
dc.subjectCIVIL SERVICE
dc.subjectCODES OF CONDUCT
dc.subjectCOLLUSION
dc.subjectCOMPARATIVE ADVANTAGE
dc.subjectCOMPETITIVE MARKET
dc.subjectCOMPETITIVE MARKETS
dc.subjectCOMPETITIVENESS
dc.subjectCONSUMERS
dc.subjectCROSS SUBSIDIES
dc.subjectDEBT
dc.subjectDEREGULATION
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING ECONOMIES
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDISTRIBUTIONAL EQUITY
dc.subjectECONOMIC ANALYSIS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC EFFICIENCY
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC IMPLICATIONS
dc.subjectECONOMIC REFORM
dc.subjectECONOMIC REFORMS
dc.subjectECONOMIC SHOCKS
dc.subjectECONOMIC THEORY
dc.subjectELECTRICITY
dc.subjectEMPLOYMENT
dc.subjectEXCESS DEMAND
dc.subjectEXTERNALITIES
dc.subjectFINANCIAL CONSTRAINTS
dc.subjectFINANCIAL CRISES
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL PERFORMANCE
dc.subjectFINANCING OF INFRASTRUCTURE
dc.subjectFIXED ASSETS
dc.subjectFOREIGN INVESTMENT
dc.subjectFREE MARKETS
dc.subjectFREIGHT
dc.subjectFREIGHT TRAFFIC
dc.subjectGLOBAL MARKET
dc.subjectGOVERNMENT INTERVENTION
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHORIZONTAL INTEGRATION
dc.subjectINCOME
dc.subjectINCOME DISTRIBUTION
dc.subjectINCOME GROUPS
dc.subjectINCOME LEVELS
dc.subjectINCOME TAXES
dc.subjectINCOMES
dc.subjectINDUSTRIAL COUNTRIES
dc.subjectINDUSTRIAL ECONOMIES
dc.subjectINEFFICIENCY
dc.subjectINFLATION
dc.subjectINFLATION TAX
dc.subjectINFLATION TAXES
dc.subjectINFORMATION ASYMMETRIES
dc.subjectINFRASTRUCTURE INVESTMENT
dc.subjectINFRASTRUCTURE INVESTMENTS
dc.subjectINFRASTRUCTURE PRIVATIZATION
dc.subjectINFRASTRUCTURE PROJECTS
dc.subjectINFRASTRUCTURE REFORM
dc.subjectINFRASTRUCTURE REGULATION
dc.subjectINSTITUTION BUILDING
dc.subjectINSTITUTIONAL CAPACITY
dc.subjectJURISDICTIONS
dc.subjectLEGISLATION
dc.subjectLIBERALIZATION
dc.subjectLOCAL GOVERNMENT
dc.subjectLONG-DISTANCE
dc.subjectLOW-INCOME COUNTRIES
dc.subjectMANDATES
dc.subjectMARGINAL COSTS
dc.subjectMARKET ECONOMY
dc.subjectMARKET SHARE
dc.subjectMARKET SHARES
dc.subjectMIDDLE-INCOME COUNTRIES
dc.subjectMINISTRY OF TRANSPORT
dc.subjectMONOPOLIES
dc.subjectMONOPOLY
dc.subjectNATURAL MONOPOLIES
dc.subjectNATURAL MONOPOLY
dc.subjectNET ASSETS
dc.subjectOPERATING EFFICIENCY
dc.subjectOUTPUT
dc.subjectPENALTIES
dc.subjectPORT AUTHORITY
dc.subjectPORT INFRASTRUCTURE
dc.subjectPORTS
dc.subjectPOST OFFICES
dc.subjectPOTENTIAL INVESTORS
dc.subjectPOWER OUTAGES
dc.subjectPRICE CHANGES
dc.subjectPRICE INCREASES
dc.subjectPRICE RISKS
dc.subjectPRIVATE CAPITAL
dc.subjectPRIVATE ENTITIES
dc.subjectPRIVATE INFRASTRUCTURE
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE INVESTORS
dc.subjectPRIVATE SECTOR
dc.subjectPRIVATE SECTOR DEVELOPMENT
dc.subjectPRIVATIZATION
dc.subjectPRIVATIZATIONS
dc.subjectPRODUCTIVITY
dc.subjectPROFITABILITY
dc.subjectPROPERTY RIGHTS
dc.subjectPUBLIC
dc.subjectPUBLIC DEFICITS
dc.subjectPUBLIC ENTERPRISES
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC FUNDS
dc.subjectPUBLIC GOOD
dc.subjectPUBLIC INFRASTRUCTURE
dc.subjectPUBLIC POLICY
dc.subjectPUBLIC RESOURCES
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SERVICES
dc.subjectPUBLIC UTILITIES
dc.subjectPUBLIC UTILITY
dc.subjectRAIL
dc.subjectRAIL INDUSTRY
dc.subjectRAIL SYSTEMS
dc.subjectRAIL TRACK
dc.subjectRAIL USERS
dc.subjectRAILROAD
dc.subjectRAILROADS
dc.subjectRAILWAY
dc.subjectRAILWAYS
dc.subjectRATE OF RETURN
dc.subjectREFORM PROGRAM
dc.subjectREGULATOR
dc.subjectREGULATORS
dc.subjectREGULATORY AGENCIES
dc.subjectREGULATORY AGENCY
dc.subjectREGULATORY AUTHORITY
dc.subjectREGULATORY BODIES
dc.subjectREGULATORY FRAMEWORK
dc.subjectREGULATORY FRAMEWORKS
dc.subjectREGULATORY OVERSIGHT
dc.subjectREGULATORY REGIMES
dc.subjectREGULATORY SYSTEM
dc.subjectREGULATORY SYSTEMS
dc.subjectREORGANIZATION
dc.subjectRETURN ON EQUITY
dc.subjectREVENUE ADEQUACY
dc.subjectRISK PREMIUMS
dc.subjectROUTE
dc.subjectSAFETY
dc.subjectSAFETY NETS
dc.subjectSANITATION
dc.subjectSAVINGS
dc.subjectSCANDALS
dc.subjectSEWAGE
dc.subjectSOCIAL WELFARE
dc.subjectSTATE ENTERPRISES
dc.subjectSTOCK MARKET
dc.subjectSTOCK MARKET COLLAPSES
dc.subjectTAX
dc.subjectTAX REVENUE
dc.subjectTAX REVENUES
dc.subjectTAX SYSTEM
dc.subjectTAX SYSTEMS
dc.subjectTAXATION
dc.subjectTECHNICAL ASSISTANCE
dc.subjectTECHNOLOGICAL CHANGES
dc.subjectTELECOMMUNICATIONS
dc.subjectTELECOMMUNICATIONS REFORM
dc.subjectTELECOMMUNICATIONS REGULATION
dc.subjectTELEPHONE SERVICES
dc.subjectTRAFFIC GROWTH
dc.subjectTRANSACTION COSTS
dc.subjectTRANSITION ECONOMIES
dc.subjectTRANSITION ECONOMY
dc.subjectTRANSPARENCY
dc.subjectTRANSPORT
dc.subjectTRANSPORT COSTS
dc.subjectTRANSPORT INFRASTRUCTURE
dc.subjectTRANSPORT MODES
dc.subjectTRANSPORT NETWORK
dc.subjectTRANSPORTATION
dc.subjectTRUE
dc.subjectVALUE ADDED
dc.subjectVERTICAL INTEGRATION
dc.subjectWATER SUPPLY
dc.subjectWHOLESALE PRICES
dc.titleInfrastructure Privatization and Regulation : Promises and Perilsen
dc.typeJournal Articleen
dc.typeArticle de journalfr
dc.typeArtículo de revistaes
dspace.entity.typePublication
okr.date.disclosure2013-04-17
okr.date.doiregistration2025-05-06T11:15:01.931044Z
okr.doctypePublications & Research::Journal Article
okr.doctypePublications & Research::Journal Article
okr.docurlhttp://documents.worldbank.org/curated/en/2005/03/17591908/infrastructure-privatization-regulation-promises-perils
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeTransport and ICT
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.globalpracticeTrade and Competitiveness
okr.guid579381468330292841
okr.identifier.doi10.1093/wbro/lki003
okr.identifier.externaldocumentum000442464_20130417151240
okr.identifier.internaldocumentum17591908
okr.identifier.report76747
okr.journal.nbpages81-108
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/04/17/000442464_20130417151240/Rendered/PDF/767470JRN0WBRO00Box374387B00PUBLIC0.pdfen
okr.peerreviewAcademic Peer Review
okr.topicPublic Sector Economics
okr.topicBanks and Banking Reform
okr.topicPrivate Sector Development::Emerging Markets
okr.topicEconomic Theory and Research
okr.topicTransport Economics Policy and Planning
okr.topicFinance and Financial Sector Development
okr.topicMacroeconomics and Economic Growth
okr.topicPublic Sector Development
okr.topicTransport
okr.unitDECRG: Environment & Energy (DECEE)
okr.volume20(2)
relation.isJournalIssueOfPublication4b537f93-f9d5-4d07-a54e-9d4b87b0c1fd
relation.isJournalIssueOfPublication.latestForDiscovery4b537f93-f9d5-4d07-a54e-9d4b87b0c1fd
relation.isJournalOfPublication9e5fbe82-492f-4142-8378-17d50245d9de
relation.isJournalVolumeOfPublication96f1febc-1dcd-48bc-850c-3804a39b99b1
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