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Financing infrastructure – International trends

Author

Listed:
  • Raffaele Della Croce
  • Stefano Gatti

Abstract

The infrastructure financing market has gone through a process of radical transformation starting from the mid-2000s. Different reasons – including a changed macroeconomic environment, more stringent regulations on financial intermediaries, and a modified appetite for long-term asset investments – have led to a reallocation of flows from the banking sector to the institutional investors sector. This article provides an overview of international trends in infrastructure finance. It proposes a map of the different investment channels that private investors can use to access the infrastructure investment on the equity and debt side, highlighting the historical evolution of these segments in the past few years. Recently designed financial structures, such as different forms of partnership between banks and institutional investors, securitisation models and debt/credit fund vehicles, are also taken into consideration. JEL classification: E2, G1, G11, G2, G3, H44, H54, H81 Keywords: infrastructure financing, long-term investment, institutional investors, public-private partnerships, bank institutional investors partnerships, syndicated loans, project bonds, securitisation, debt/credit fund vehicles, financial market regulation

Suggested Citation

  • Raffaele Della Croce & Stefano Gatti, 2014. "Financing infrastructure – International trends," OECD Journal: Financial Market Trends, OECD Publishing, vol. 2014(1), pages 123-138.
    • Handle: RePEc:oec:dafkad:5jxvpb4jfrf1
    DOI: 10.1787/fmt-2014-5jxvpb4jfrf1
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    Cited by:

    1. Athanasios A. Pallis & Francesco Parola & Giovanni Satta & Theo E. Notteboom, 2018. "Private entry in cruise terminal operations in the Mediterranean Sea," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 20(1), pages 1-28, March.
    2. Juan David González-Ruiz & Sergio Botero-Botero & Eduardo Duque-Grisales, 2018. "Financial Eco-Innovation as a Mechanism for Fostering the Development of Sustainable Infrastructure Systems," Sustainability, MDPI, vol. 10(12), pages 1-19, November.
    3. Ncedo Cameron Xhala & Juraj Nemec & Kahilu Kajimo-Shakantu, 2017. "The Breadth of Success and Failure Factors with PPPs Implementation," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2017(2), pages 5-16.
    4. Latino, Carmelo & Pelizzon, Loriana & Riedel, Max, 2023. "How to green the European Auto ABS market? A literature survey," SAFE Working Paper Series 391, Leibniz Institute for Financial Research SAFE.

    More about this item

    Keywords

    infrastructure financing; long-term investment; institutional investors; public-private partnerships; bank institutional investors partnerships; syndicated loans; project bonds; securitisation; debt/credit fund vehicles; financial market regulation;
    All these keywords.

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • G1 - Financial Economics - - General Financial Markets
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G2 - Financial Economics - - Financial Institutions and Services
    • G3 - Financial Economics - - Corporate Finance and Governance
    • H44 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Goods: Mixed Markets
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts

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