Infrastructure policy: Basic design options
Vol 1, Issue 2, 2017
VIEWS - 1004 (Abstract) 495 (PDF)
Abstract
The paper lays out basic design options for infrastructure policy. It first sketches mechanisms to assess demand. Then it sets out a hierarchy of issues starting with choice of market structure followed by conduct regulation. Ownership options are largely a function of market structure choices. The implications for finance—the topic of much day-to-day discussion in infrastructure policy-making—follow from these various prior choices. The discussion naturally circumscribes the role for the so-called public-private partnerships, their uses and pitfalls.
Keywords
Full Text:
PDFReferences
Andres LA, Guasch JL, Haven T, et al. (2008). The impact of private sector participation in infrastructure: Lights, shadows, and the road ahead. Washington, DC, USA: The International Bank of Reconstruction and Development/The World Bank. doi: 10.1596/978-0-8213-7409-2.
Brook PJ and Irwin TC (2003). Infrastructure for poor people: Public policy for private provision. Washington, DC, USA: The International Bank of Reconstruction and Development/The World Bank.
Baumstark L, Ferry P, and Gollier C (2011). “Le calcul du risqué dans les investissements publics” (French) [The calculation of risk in public investment]. Paris, France: Centre d’Analyse Stratégique.
Cobb M (2002). International Development Consultants. http://www.idcworld.com/finance.htm.
Easterly WR (2001). The elusive quest for growth: Economists’ adventures and misadventures in the tropics. Cambridge, MA, USA: The MIT Press.
Engel EMRA, Fischer RD, and Galetovic A (2001). “Least-present-value-of-revenue auctions and highway franchising”. Journal of Political Economy, 109(5): 993–1020. doi: 10.1086/322832.
Galal A, Jones L, Tandon P, et al. (1994). Welfare consequences of selling public enterprises: An empirical analysis. Washington, DC, USA: The International Bank of Reconstruction and Development/The World Bank.
Gassner K, Popov A and Pushak N (2008). “Does the private sector deliver on its promises? Evidence from a global study in water and electricity”. Grid Lines, No 36. Washington, DC, USA: PPIAF.
GSMA (2014). “The Mobile Economy 2014.” London, UK: GSMA.
Guasch JL (2004). Granting and renegotiating infrastructure concessions: Doing it right. Washington, DC, USA: The International Bank of Reconstruction and Development/The World Bank. doi: 10.1596/0-8213-5792-1.
Hope R and Rouse M (2013). “Risks and responses to universal drinking water security”. Philosophical Transaction of the Royal Society A. Mathematical, Physical, and Engineering Sciences. 371(2002): 20120417. doi: 10.1098/rsta.2012.0417.
House of Commons Treasury Committee (2011). “Private finance initiative”. Seventeenth Report of Session 2010-12. London, UK: House of Commons.
Irwin T and Mokdad T (2010). “Managing contingent liabilities in public-private partnerships: Practice in Australia, Chile, and South Africa”. Working Paper. Washington, DC, USA: The International Bank of Reconstruction and Development/The World Bank. doi:10.1596/23187.
Kariuki M and Schwartz J (2005). Small-scale private service providers of water supply and electricity: A review of incidence, structure, pricing and operating characteristics. Washington, DC, USA: The World Bank. doi: 10.1596/1813-9450-3727.
Kessides IN (2004). Reforming infrastructure: Privatization, regulation and competition. Washington, DC, USA: The World Bank. doi: 10.1596/0-8213-5070-6.
Kirkpatrick C, Parker D and Zhang YF (2006). “State versus private provision of water services in Africa: An empirical analysis”. The World Bank Economic Review, 20(1): 143–163. doi: 10.1093/wber/lhj001.
Klein M (1997). “The risk premium for evaluating public projects”. Oxford Review of Economic Policy, 13(4): 29–42. doi: 10.1093/oxrep/13.4.29.
Komives K, Foster V, Halpern J, et al. (2005). Water, electricity and the poor: Who benefits from utility subsidies? Washington, DC, USA: The International Bank of Reconstruction and Development/The World Bank. doi: 10.1596/978-0-8213-6342-3.
Laffont JJ and Tirole J (1993). A theory of incentives in procurement and regulation. Cambridge, MA, USA: The MIT Press.
Li W and Xu LC (2004). “The impact of privatization and competition in the telecommunications sector around the world”. Journal of Law and Economics, 47(2): 395–430. doi: 10.1086/422984.
Nellis J (2012). The international experience with privatization: Its rapid rise, partial fall and uncertain future. SPP Research Paper Vol. 5 Issue 3. Calgary, Alberta, Canada: School of Public Policy, University of Calgary. doi: 10.2139/ssrn.1999098.
Nenova T and Harford T (2004). “Anarchy and invention: How does Somalia’s private sector cope without government?” Washington, DC, USA: The World Bank.
Newbery DM (1999). Privatization, restructuring and regulation of network utilities. Cambridge, MA, USA: The MIT Press.
Pollitt MG and Smith ASJ (2002). “The restructuring and privatization of British rail: Was it really that bad?”. Fiscal Studies, 23(4): 463–502. doi: 10.1111/j.1475-5890.2002.tb00069.x.
Smith A (1776). An inquiry into the nature and causes of the wealth of nations. 1976 ed. Chicago, Illinois, USA: University of Chicago Press.
Smith W (1997). “Utility regulators – The independence debate”. Public Policy for the Private Sector. Note No. 127. Washington, DC, USA: The World Bank.
Train KE (1991). Optimal regulation: The economic theory of natural monopoly. Cambridge, MA, USA: The MIT Press.
Winston C (1993). “Economic deregulation: Days of reckoning for microeconomists”. Journal of Economic Literature, 31(3): 1263–1289.
World Bank (1994). World Development Report 1994: Infrastructure for development. Washington, DC, USA: The International Bank for Reconstruction and Development/The World Bank.
Zhang YF, Parker D and Kirkpatrick C (2008). “Electricity sector reform in developing countries: An econometric assessment of the effects of privatization, competition and regulation”. Journal of Regulatory Economics, 33(2): 159–178. doi: 10.1007/s11149-007-9039-7.
DOI: https://doi.org/10.24294/jipd.v1i2.77
Refbacks
- There are currently no refbacks.
Copyright (c) 2017 Michael Klein
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
This site is licensed under a Creative Commons Attribution 4.0 International License.