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Managing Risks in Cross Border Energy Projects in Emerging Markets

Author

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  • Hilmar Tór HILMARSSON

    (University of Akureyri, Iceland)

Abstract

Clean and renewable energy projects are increasingly important to meet the growing energy needs in the world. These projects are also critical for environmental reasons and as part of the battle against climate change. A large part of clean energy sources in the world are located in emerging market economies. Investors engaged in cross border investments to emerging markets are often faced with higher risks than those investing in high income OECD countries. Higher risks in turn reduce capital flows to emerging markets. At the same time clean energy projects tend to be large, capital intensive and long-term. An additional complication is that energy projects often require partnership between the public and the private sectors i.e. public private partnerships (PPPs). This article discusses PPPs in the energy sector in emerging market economies. The focus is on cross border investments from small states where Iceland is selected as a case for discussion.

Suggested Citation

  • Hilmar Tór HILMARSSON, 2012. "Managing Risks in Cross Border Energy Projects in Emerging Markets," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 13(5), pages 717-732, December.
    • Handle: RePEc:rom:rmcimn:v:13:y:2012:i:5:p:717-732
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    File URL: https://rmci.ase.ro/no13vol5/02.pdf
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    References listed on IDEAS

    as
    1. World Bank, 2009. "The World Bank Group Guarantee Instruments 1990-2007 : An Independent Evaluation," World Bank Publications - Books, The World Bank Group, number 2627.
    2. Graeme A. Hodge & Carsten Greve, 2009. "PPPs: THE PASSAGE OF TIME PERMITS A SOBER REFLECTION," Economic Affairs, Wiley Blackwell, vol. 29(1), pages 33-39, March.
    3. Hilmar HILMARSSON, 2011. "Managing Reform: How Can the Baltic States as Aid Donors Best Share their Transition Experience with Less Advanced Economies and what Lessons Can they Learn from the International Development Programs," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 12(4), pages 683-696, October.
    4. Trung Quang DINH & Hilmar Þor HILMARSSON, 2012. "Private Sector Export to Emerging Market Economies During Times of Crisis: How Can Export Credit Agencies Help?," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 13(1), pages 167-180, March.
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    More about this item

    Keywords

    Clean and renewable energy; emerging market economies; risks and risk mitigation instruments; public-private partnerships (PPPs);
    All these keywords.

    JEL classification:

    • F30 - International Economics - - International Finance - - - General
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • O22 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Project Analysis
    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General

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