Infrastructure Delivery: Private Initiative and the Public Good (Edi Development Studies) PDF
01996·0.642 MB·English
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Technological change, advances in regulatory design, and the evolution of financial markets are prompting governments to move away from their domination of infrastructure delivery and allow greater opportunities for private enterprise. This volume explores the tensions that often exist between private initiative and the public interest. It draws on the lessons of experience with private delivery and emphasizes the importance of correctly assessing the competitive possibilities in different sectors, specifying the desired quality of service, and monitoring the actions of private providers. Modern developments in regulatory design and risk management have raised issues about the interface between the public and private sectors when governments provide guarantees to private investors and lenders. Several case studies describe current trends and highlight the roles of major private actors, as well as of official lenders, such as export credit agencies and multilateral development banks. While private finance and operation hold great promise for developing-country infrastructure, their success will depend upon the ability of governments to create new policies, institutions, and capabilities. This book carefully examines many of the prerequisites for success, including the design of regulation and the management of contingent liabilities. It merits a wide readership by all interested in the success of private-public partnerships.--Charles Frank, Jr., Executive Vice President and Director, General Electric Capital Corporation, Stanford, Connecticut Through case studies and several analytical examples, this book addresses the nuances of public policy in successfully attracting private capital to infrastructure sectors. I have benefited greatly from the exposition an dhave drawn extensively from the book in preparing a report on India's options for private finance in infrastructure.--Rakesh Mohan, Director General, National Council of Applied Economic Research, New Delhi, India Table of Contents: Infrastructure Delivery: New Ideas, Big Gains, No Panaceas (Ashoka Mody) Chapter 1: No Single Path: Ownership and Financing of Infrastructure in the 19th and 20th Centuries (Charles D. Jacobson and Joel A. Tarr) Chapter 2: Exploiting New Market Opportunities in Telecommunications (Veronique Bishop, Ashoka Mody, and Mark Schankerman) Chapter 3: Principles of Regulatory Policy Design (David E. M. Sappington) Chapter 4: Financing Infrastructure in Developing Countries: Lessons from the Railway Age (Barry Eichengreen) Chapter 5: The Public Finance of Infrastructure: Issues and Options (Vinaya Swaroop) Chapter 6: The Role of Export Credit Agencies in the Foreign Financing of Infrastructure in Developing Countries (Ning S. Zhu) Chapter 7: Project Finance in Practice: The Case Studies (Thomas H. Pyle) Chapter 8: Methods of Loan Guarantee Valuation and Accounting (Ashoka Mody and Dilip Kumar Patro)
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