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Una nueva estructura de garantías para los bonos chilenos de infraestructura

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  • Werner Kristjanpoller Rodríguez
  • John Díaz Antillanca

Abstract

El sistema chileno de concesiones ha sido uno de los fundamentos del desarrollo del país y ha creado una fuerte relación entre el sector público y el sector privado para financiar grandes obras. La reciente crisis financiera destruyó la confianza en las compañías de seguros “monolínea”, las cuales aseguran los bonos de infraestructura de Chile aumentando su calificación de riesgo a AAA a nivel internacional. En este contexto es necesario estudiar nuevas estructuras de garantías para estos bonos, en particular para proyectos superiores a 200 millones de dólares. Se proponen dos alternativas: una Sociedad de Garantía y garantías de contratos de concesión con cobertura privada.

Suggested Citation

  • Werner Kristjanpoller Rodríguez & John Díaz Antillanca, 2011. "Una nueva estructura de garantías para los bonos chilenos de infraestructura," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 13(25), pages 275-295, July-Dece.
    • Handle: RePEc:rei:ecoins:v:13:y:2011:i:25:p:275-295
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    File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/werner25.pdf
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    References listed on IDEAS

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    1. Guasch, J. Luis & Laffont, Jean-Jacques & Straub, Stéphane, 2008. "Renegotiation of concession contracts in Latin America: Evidence from the water and transport sectors," International Journal of Industrial Organization, Elsevier, vol. 26(2), pages 421-442, March.
    2. J. Luis Guasch & Jean-Jacques Laffont & Stéphane Straub, 2007. "Concessions of infrastructure in Latin America: Government-led renegotiation," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 22(7), pages 1267-1294.
    3. J. Luis Guasch & Jean-Jacques Laffont & Stephane Straub, 2003. "Renegotiation of Concession Contracts in Latin America," Edinburgh School of Economics Discussion Paper Series 103, Edinburgh School of Economics, University of Edinburgh.
    4. J. Luis Guasch & Stéphane Straub, 2006. "Renegotiation Of Infrastructure Concessions: An Overview," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 77(4), pages 479-493, December.
    5. Sirtaine, Sophie & Pinglo, Maria Elena & Guasch, J. Luis & Foster, Vivien, 2005. "How profitable are private infrastructure concessions in Latin America?: Empirical evidence and regulatory implications," The Quarterly Review of Economics and Finance, Elsevier, vol. 45(2-3), pages 380-402, May.
    6. Clive Harris, 2003. "Private Participation in Infrastructure in Developing Countries : Trends, Impacts, and Policy Lessons," World Bank Publications - Books, The World Bank Group, number 15124.
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    More about this item

    Keywords

    concesiones; monolínea; bonos de infraestructura; bonos asegurados;
    All these keywords.

    JEL classification:

    • 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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