Publication:
Infrastructure Concessions in Latin America : Government-led Renegotiations

dc.contributor.author Guasch, J. Luis
dc.contributor.author Straub, Stéphane
dc.date.accessioned 2012-06-20T15:46:27Z
dc.date.available 2012-06-20T15:46:27Z
dc.date.issued 2005-10
dc.description.abstract 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. en
dc.identifier http://documents.worldbank.org/curated/en/2005/10/6330949/infrastructure-concessions-latin-america-government-led-renegotiations
dc.identifier.uri http://hdl.handle.net/10986/8525
dc.language English
dc.publisher World Bank, Washington, DC
dc.relation.ispartofseries Policy Research Working Paper; No. 3749
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo/
dc.title Infrastructure Concessions in Latin America : Government-led Renegotiations en
dspace.entity.type Publication
okr.doctype Publications & Research
okr.doctype Publications & Research :: Policy Research Working Paper
okr.docurl http://documents.worldbank.org/curated/en/2005/10/6330949/infrastructure-concessions-latin-america-government-led-renegotiations
okr.identifier.doi 10.1596/1813-9450-3749
okr.identifier.externaldocumentum 000016406_20051007095135
okr.identifier.internaldocumentum 6330949
okr.identifier.report WPS3749
okr.language.supported en
okr.pdfurl http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2005/10/07/000016406_20051007095135/Rendered/PDF/wps3749.pdf en
okr.region.administrative Latin America & Caribbean
okr.unit Development Research Group (DECRG)
okr.volume 1 of 1
relation.isAuthorOfPublication 4cc9b022-436f-51a0-b40d-6c4438bbced2
relation.isSeriesOfPublication 26e071dc-b0bf-409c-b982-df2970295c87
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