Gómez-Ibáñez, José A.2017-08-282017-08-282008https://hdl.handle.net/10986/28019Beginning in the late 1980s many developing countries turned to the private sector to provide basic infrastructure and utility services, such as highways, railroads, water, wastewater, electricity, gas, and telecommunications. Recent studies suggest that private involvement often benefited customers and reduced government fiscal problems without harming employees or enriching private providers excessively. There were enough high-profile failures, however, to discredit this reform in many quarters. Private involvement is likely to be more successful if it generates real efficiency gains rather than simply transferring costs among parties, if the systems of regulating the private companies are politically sensitive as well as technically competent, if the costs and constraints of private capital are not excessive, and if we are willing to adopt more modest and gradual schemes in difficult circumstances.en-USCC BY 3.0 IGOACCESS LEVELSADVERSE EFFECTSAMOUNT OF CAPITALARBITRATIONAUCTIONBANKRUPTCIESBANKRUPTCYBASIC INFRASTRUCTUREBASIS POINTSBIDSBUDGETARY SUPPORTCAPITAL COSTSCAPITAL MARKETSCAPITAL STOCKSCLEAN WATERCOMPANYCOMPETITIVE BIDDINGCOMPETITIVE TENDERCONNECTION CHARGESCONTRACT COMPLIANCECONTRACT RENEGOTIATIONCOOPERATIVESCORPORATIONCORRUPTIONCOST OF CAPITALCOSTS OF CAPITALCOUNTRY RISKCROSS SUBSIDIESCUBIC METER OF WATERCURRENCYDEBTDEBTSDEPOSITORSDEREGULATIONDEVALUATIONDEVELOPING COUNTRIESDEVELOPING COUNTRYDEVELOPING ECONOMIESDEVELOPING ECONOMYDEVELOPMENT BANKDEVELOPMENT BANKSDIVIDENDDIVIDENDSDOMESTIC CAPITALDOMESTIC CAPITAL MARKETSDRINKING WATERDURABLEEARNINGSECONOMIC CRISISECONOMIC DEVELOPMENTECONOMIES OF SCALEEMPLOYEEEMPLOYMENTEQUITY MARKETEQUITY MARKETSEXCHANGE RATEEXPANSIONEXPENDITUREEXPENDITURESEXPROPRIATIONFAIR VALUEFARMERSFINANCIAL BURDENFINANCIAL CRISESFINANCIAL CRISISFINANCIAL RESOURCESFINANCIAL STATEMENTSFISCAL POLICIESFISCAL RESOURCESFIXED CHARGESFIXED RATESFLOATING RATESFOREIGN CAPITALFOREIGN CURRENCYFOREIGN EXCHANGEFOREIGN EXCHANGE RISKFOREIGN EXCHANGE RISKSFOREIGN FINANCINGFOREIGN FIRMFOREIGN INVESTMENTFOREIGN INVESTORSGOVERNMENT BUDGETSGOVERNMENT REGULATIONGOVERNMENT SUBSIDIESGUARANTEE AGENCYHOST COUNTRYHOST GOVERNMENTINCOMEINCOME LEVELSINFLATIONINFRASTRUCTURE BONDSINFRASTRUCTURE CONCESSIONINFRASTRUCTURE CONCESSIONSINFRASTRUCTURE INDUSTRIESINFRASTRUCTURE INVESTMENTSINFRASTRUCTURE PRIVATIZATIONINFRASTRUCTURE PROJECTSINSTITUTIONAL ENVIRONMENTINSURANCEINSURANCE COMPANIESINTEREST RATESINTERNATIONAL BANKINTERNATIONAL DEVELOPMENTINTERNATIONAL FINANCIAL INSTITUTIONSINVESTOR INTERESTSLARGE ENTERPRISESLAWSLEGAL PROTECTIONSLENDERSLIABILITYLOANLOCAL BANKSLOCAL CAPITAL MARKETSLOCAL CURRENCYLOCAL GOVERNMENTLOCAL MARKETSMACROECONOMIC STABILITYMARKET REFORMSMINORITY SHAREHOLDERSMONOPOLYMULTINATIONALORIGINAL CONTRACTSOUTPUTOUTPUTSPARENT COMPANIESPENSIONPENSION FUNDSPERPETUITYPOLITICAL RISKPOLITICAL RISK INSURANCEPOOR HOUSEHOLDSPRIVATE CAPITALPRIVATE COMPANIESPRIVATE COMPANYPRIVATE CONCESSIONAIRESPRIVATE DEBTPRIVATE ENTERPRISESPRIVATE FINANCEPRIVATE FIRMPRIVATE FIRMSPRIVATE INFRASTRUCTUREPRIVATE INVESTMENTPRIVATE INVESTMENT IN INFRASTRUCTUREPRIVATE INVESTMENT IN WATERPRIVATE INVESTORPRIVATE INVESTORSPRIVATE OPERATORSPRIVATE PARTIESPRIVATE PROPERTYPRIVATE UTILITIESPRIVATE WATERPRIVATE WATER COMPANIESPRIVATIZATIONPRIVATIZATION PROCESSPRIVATIZATION PROGRAMPRIVATIZATIONSPRODUCTIVITYPROFITABILITYPROVISION OF INFRASTRUCTUREPUBLIC ASSETSPUBLIC DEBTPUBLIC FINANCEPUBLIC INFRASTRUCTUREPUBLIC INVESTMENTSPUBLIC POLICYPUBLIC WATERQUALITY OF SERVICERAPID ECONOMIC GROWTHRATE OF INVESTMENTRATE OF RETURNREGIONAL BANKSREGULATORREGULATORSREGULATORY AGENCIESREGULATORY AGENCYREGULATORY SYSTEMREGULATORY SYSTEMSRENEGOTIATIONRENEGOTIATIONSREPAYMENTRETURNRETURN ON INVESTMENTRETURNSRIGHTS OF MINORITY SHAREHOLDERSRISK MANAGEMENTROADSSAVINGSSEIZURESERVICE QUALITYSERVICE TO CUSTOMERSSETTLEMENTSMALL COUNTRIESSMALL COUNTRYSOCIAL SERVICESSOVEREIGN DEBTSPONSORSSTATE ENTERPRISESSTRATEGIC INVESTORSSUBSIDIARYSWAPSTARIFF INCREASESTECHNOLOGICAL CHANGESTELECOMMUNICATIONSTELEPHONE SERVICETELEPHONE SERVICESTRADINGTRANSACTIONTRANSPORTTREATIESUNEMPLOYMENTURBAN WATERURBAN WATER SUPPLYUTILITY COMPANIESWATER BILLSWATER COMPANIESWATER CONNECTIONWATER ENTERPRISESWATER SERVICESWATER SHORTAGESWATER TARIFFSWATER TREATMENTWATER TREATMENT PLANTSWITHDRAWALWorking PaperWorld Bank10.1596/28019