Publication:
Key Drivers of PPPs in Electricity Generation in Developing Countries : Cross-Country Evidence of Switching between PPP Investment in Fossil Fuel and Renewable-Based Generation

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dc.contributor.authorVagliasindi, Maria
dc.date.accessioned2012-12-07T18:37:08Z
dc.date.available2012-12-07T18:37:08Z
dc.date.issued2012-07
dc.description.abstractThis paper presents new global evidence on the key determinants of public-private partnership investment in electricity generated by fossil fuels and renewable energy based on a panel data analysis for 105 developing countries over a period of 16 years from 1993 to 2008. It aims to identify the key factors affecting private investors' decision to enter electricity generation, through probit analysis, and the amount of investment sunk in this market segment, based on Heckman's sample selection analysis. The paper shows some evidence of switching from investment in fossil fuels to investment in hydro and renewables and within fossil fuels from oil to natural gas. An interesting result of the econometric analysis is that the likelihood of switching toward renewable investment is driven by long-run environmental factors, such as the increases in the price of oil and the introduction of the Kyoto protocol. Another interesting result is that sector governance support schemes, provided by feed-in tariffs, affect only the entry in renewable based electricity generation and have no impact in reducing the amount of investment in fossil fuel based generation. Economy-wide governance factors, including control for corruption and degree of political competition, are factored in by private investors only in the initial stage of the game when the decision to enter into the generation market is taken and not the amount of investment. This confirms that the first generations of independent power producers have been developed on the basis of long-term power purchase agreements guaranteeing a fixed rate of return, through take-or-pay clauses and/or government guarantees.en
dc.identifierhttp://documents.worldbank.org/curated/en/2012/07/16462671/key-drivers-ppps-electricity-generation-developing-countries-cross-country-evidence-switching-between-ppp-investment-fossil-fuel-renewable-based-generation
dc.identifier.doi10.1596/1813-9450-6118
dc.identifier.urihttps://hdl.handle.net/10986/11938
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 6118
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectALTERNATIVE ENERGY
dc.subjectALTERNATIVE ENERGY DEVELOPMENT
dc.subjectAPPROACH
dc.subjectBALANCE
dc.subjectBARRELS PER DAY
dc.subjectCARBON
dc.subjectCARBON EMISSIONS
dc.subjectCIVIL WAR
dc.subjectCLEAN FUELS
dc.subjectCLIMATE CHANGE
dc.subjectCOAL
dc.subjectCOAL INVESTMENT
dc.subjectCOMMODITY
dc.subjectCOMMODITY PRICES
dc.subjectCOMPETITION FOR ENERGY
dc.subjectCONVENTIONAL ELECTRICITY
dc.subjectCONVENTIONAL ELECTRICITY GENERATION
dc.subjectCOST OF ELECTRICITY
dc.subjectCREDITWORTHINESS
dc.subjectCRUDE OIL
dc.subjectCRUDE OIL MARKET
dc.subjectCRUDE OIL PRICE
dc.subjectCRUDE OIL PRICES
dc.subjectCRUDE OIL PRODUCTION
dc.subjectCRUDE PRICES
dc.subjectDEMAND GROWTH
dc.subjectDEMOCRACY
dc.subjectDEVELOPING COUNTRIES
dc.subjectDIESEL
dc.subjectDISTRIBUTION LOSSES
dc.subjectDRILLING
dc.subjectELECTRICITY
dc.subjectELECTRICITY GENERATION
dc.subjectELECTRICITY SECTOR
dc.subjectEMERGING ECONOMIES
dc.subjectENERGY DEMAND
dc.subjectENERGY EFFICIENCY
dc.subjectENERGY EFFICIENCY MEASURES
dc.subjectENERGY OUTLOOK
dc.subjectENERGY RESOURCES
dc.subjectENERGY SECURITY
dc.subjectENERGY SOURCE
dc.subjectENERGY SOURCES
dc.subjectENVIRONMENTAL FACTORS
dc.subjectENVIRONMENTAL SUSTAINABILITY
dc.subjectETHANOL
dc.subjectFEDERAL RESERVE
dc.subjectFEDERAL RESERVE BANK
dc.subjectFINANCIAL CRISES
dc.subjectFIXED RATE
dc.subjectFOSSIL
dc.subjectFOSSIL FUEL
dc.subjectFOSSIL FUEL PRICES
dc.subjectFOSSIL FUEL USE
dc.subjectFOSSIL FUELS
dc.subjectFUEL OIL
dc.subjectGAS PRICES
dc.subjectGAS SUPPLY
dc.subjectGLOBAL MARKET
dc.subjectGLOBAL OUTPUT
dc.subjectGOVERNANCE INDICATOR
dc.subjectGOVERNANCE INDICATORS
dc.subjectGOVERNMENT GUARANTEES
dc.subjectGROWTH IN ENERGY DEMAND
dc.subjectHEAT
dc.subjectHYDROPOWER
dc.subjectINCOME
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL ENERGY AGENCY
dc.subjectINVESTMENT IN COAL
dc.subjectKILOWATT-HOUR
dc.subjectLIGHTING
dc.subjectLNG
dc.subjectLNG TERMINALS
dc.subjectMARKET FAILURES
dc.subjectNATURAL GAS
dc.subjectNONRENEWABLE RESOURCES
dc.subjectNUCLEAR ENERGY
dc.subjectOIL
dc.subjectOIL ACCOUNTS
dc.subjectOIL CONSUMPTION
dc.subjectOIL DEMAND
dc.subjectOIL EXPORTS
dc.subjectOIL PRICES
dc.subjectOIL PRODUCERS
dc.subjectOIL PRODUCTION
dc.subjectOIL SHOCK
dc.subjectOIL SHOCKS
dc.subjectOIL SUPPLY
dc.subjectOILS
dc.subjectPEAK OIL
dc.subjectPETROLEUM
dc.subjectPETROLEUM EXPORTING COUNTRIES
dc.subjectPETROLEUM PRODUCTION
dc.subjectPOLITICAL ECONOMY
dc.subjectPOLITICAL SYSTEM
dc.subjectPOWER
dc.subjectPOWER CRISIS
dc.subjectPOWER GENERATION
dc.subjectPOWER OUTAGES
dc.subjectPOWER PLANT
dc.subjectPOWER PLANTS
dc.subjectPOWER PRODUCERS
dc.subjectPOWER PURCHASE AGREEMENTS
dc.subjectPOWER SECTOR
dc.subjectPOWER SYSTEM
dc.subjectPRICE ELASTICITY
dc.subjectPRICE OF OIL
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE INVESTOR
dc.subjectPRIVATE INVESTORS
dc.subjectPRODUCTION CAPACITY
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC-PRIVATE PARTNERSHIP
dc.subjectRAPID GROWTH
dc.subjectRATE OF RETURN
dc.subjectREGULATOR
dc.subjectRENEWABLE ENERGY
dc.subjectRENEWABLE ENERGY MARKET
dc.subjectRENEWABLE SOURCES
dc.subjectRENEWABLE SOURCES OF ENERGY
dc.subjectSECURITY CONCERNS
dc.subjectSOURCE OF ENERGY
dc.subjectSPECULATIVE BUBBLE
dc.subjectSUPPLY DISRUPTIONS
dc.subjectSUPPLY SHOCK
dc.subjectSUPPLY SHOCKS
dc.subjectSUSTAINABLE ENERGY
dc.subjectTECHNOLOGICAL CHANGE
dc.subjectTOTAL ELECTRICITY GENERATION
dc.subjectTRANSMISSION LINES
dc.subjectWASTE
dc.subjectWIND
dc.subjectWORLD DEVELOPMENT INDICATORS
dc.subjectWORLD ECONOMY
dc.subjectWORLD ENERGY
dc.subjectWORLD ENERGY OUTLOOK
dc.subjectWORLD OIL
dc.titleKey Drivers of PPPs in Electricity Generation in Developing Countries : Cross-Country Evidence of Switching between PPP Investment in Fossil Fuel and Renewable-Based Generationen
dspace.entity.typePublication
okr.crossref.titleKey Drivers of PPPs in Electricity Generation in Developing Countries: Cross-Country Evidence of Switching between PPP Investment in Fossil Fuel and Renewable-Based Generation
okr.date.disclosure2012-07-01
okr.date.doiregistration2025-04-10T10:55:19.854430Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2012/07/16462671/key-drivers-ppps-electricity-generation-developing-countries-cross-country-evidence-switching-between-ppp-investment-fossil-fuel-renewable-based-generation
okr.globalpracticeEnvironment and Natural Resources
okr.globalpracticeEnergy and Extractives
okr.globalpracticeTrade and Competitiveness
okr.globalpracticeEnergy and Extractives
okr.guid214201468162848953
okr.identifier.doi10.1596/1813-9450-6118
okr.identifier.externaldocumentum000158349_20120703101310
okr.identifier.internaldocumentum16462671
okr.identifier.reportWPS6118
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/07/03/000158349_20120703101310/Rendered/PDF/WPS6118.pdfen
okr.topicPrivate Sector Development::Emerging Markets
okr.topicEnergy::Energy and Environment
okr.topicEnergy::Energy Demand
okr.topicEnergy::Energy Production and Transportation
okr.topicEnvironment::Environment and Energy Efficiency
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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