IDEAS home Printed from https://ideas.repec.org/b/wbk/wbpubs/7333.html
   My bibliography  Save this book

Mobilizing Private Finance for Local Infrastructure in Europe and Central Asia : An Alternative Public Private Partnership Framework

Author

Listed:
  • Michel Noel
  • W. Jan Brzeski

Abstract

In recent years, the countries of Europe and Central Asia (ECA) have experienced a marked decline in investments by international private operators/investors in local infrastructure-much in line with the trend observed in other emerging markets. This decline has been particularly significant in the local water and energy sectors. In light of the increasingly tight fiscal constraints faced by governments across ECA, there is a strong need to develop alternative Public-Private Partnership frameworks that could attract private investors to the local infrastructure sector. The growing challenge is to identify and implement adequate financing frameworks and modalities of public support Public-Private Partnerships that would be sufficient to attract participation of private investors in local infrastructure without increasing the risk of moral hazard. The objective of this paper is to explore possible elements of an alternative PPP framework that could help governments in ECA to meet this challenge. The paper identifies key impediments to the development of Public-Private Partnerships in local infrastructure in ECA and discusses the elements of the proposed Public-Private Partnership framework.

Suggested Citation

  • Michel Noel & W. Jan Brzeski, 2005. "Mobilizing Private Finance for Local Infrastructure in Europe and Central Asia : An Alternative Public Private Partnership Framework," World Bank Publications - Books, The World Bank Group, number 7333.
    • Handle: RePEc:wbk:wbpubs:7333
    as

    Download full text from publisher

    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/7333/323380PAPER0Mobilizing0private0finance.pdf?sequence=1
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Penelope J. Brook & Suzanne M. Smith, 2001. "Contracting for Public Services : Output-based Aid and Its Applications," World Bank Publications - Books, The World Bank Group, number 13978.
    2. Klein, Michael, 1997. "Managing guarantee programs in support of infrastructure investment," Policy Research Working Paper Series 1812, The World Bank.
    3. Venkataraman Krishnaswamy & Gary Stuggins, 2003. "Private Sector Participation in the Power Sector in Europe and Central Asia : Lessons from the Last Decade," World Bank Publications - Books, The World Bank Group, number 15123.
    4. Mila Freire & John Petersen & Marcela Huertas & Miguel Valadez, 2004. "Subnational Capital Markets in Developing Countries : From Theory to Practice," World Bank Publications - Books, The World Bank Group, number 15044.
    5. Timothy Irwin, 2003. "Public Money for Private Infrastructure : Deciding When to Offer Guarantees, Output-based Subsidies, and Other Fiscal Support," World Bank Publications - Books, The World Bank Group, number 15117.
    6. Serra, Pablo, 2000. "Subsidies in Chilean public utilities," Policy Research Working Paper Series 2445, The World Bank.
    7. Clive Harris & John Hodges & Michael Schur, 2003. "Infrastructure Projects : A Review of Canceled Private Projects," World Bank Publications - Reports 11329, The World Bank Group.
    8. 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.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Michel Noel & Noritaka Akamatsu & W. Jan Brzeski & Carlo Segni, 2007. "The Polish Fixed-income Securities Market : Recent Developments and Selected Policy Challenges," World Bank Publications - Books, The World Bank Group, number 6634.
    2. World Bank, 2008. "Zambia Growth, Infrastructure, and Investments : Role for Public Private Partnership," World Bank Publications - Reports 19483, The World Bank Group.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. World Bank, 2006. "Approaches to Private Participation in Water Services : A Toolkit," World Bank Publications - Books, The World Bank Group, number 6982.
    2. Philippe Marin, 2009. "Public-Private Partnerships for Urban Water Utilities : A Review of Experiences in Developing Countries," World Bank Publications - Books, The World Bank Group, number 2703.
    3. 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.
    4. Carlos Contreras & Julio Angulo, 2017. "Valuing Governmental Support in Road PPPs," Hacienda Pública Española / Review of Public Economics, IEF, vol. 223(4), pages 37-66, December.
    5. 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.
    6. Abraham Park & Chen-Yu Chang, 2013. "Impacts of construction events on the project equity value of the Channel Tunnel project," Construction Management and Economics, Taylor & Francis Journals, vol. 31(3), pages 223-237, March.
    7. Mr. Alex Segura-Ubiergo & Miss Taline Koranchelian & Mr. Carlos Mulas-Granados, 2008. "Reforming Government Subsidies in the New Member States of the European Union," IMF Working Papers 2008/165, International Monetary Fund.
    8. Jicai Liu & Charles Cheah, 2009. "Real option application in PPP/PFI project negotiation," Construction Management and Economics, Taylor & Francis Journals, vol. 27(4), pages 331-342.
    9. repec:ces:ifodic:v:3:y:2005:i:1:p:14567528 is not listed on IDEAS
    10. Anupama Sen and Tooraj Jamasb, 2012. "Diversity in Unity: An Empirical Analysis of Electricity Deregulation in Indian States," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1).
    11. Stephen Gasteyer & Tahreer Araj, 2009. "Empowering Palestinian Community Water Management Capacity: Understanding the Intersection of Community Cultural, Political, Social, and Natural Capitals," Community Development, Taylor & Francis Journals, vol. 40(2), pages 199-219, June.
    12. Julian Lampietti, 2004. "Power's Promise : Electricity Reforms in Eastern Europe and Central Asia," World Bank Publications - Books, The World Bank Group, number 14936.
    13. Kirkpatrick, Colin & Parker, David, 2004. "Regulation and the Privatisation of Water Services in Developing Countries: Assessing the Impact of the General Agreement on Trade in Services (GATS)," Centre on Regulation and Competition (CRC) Working papers 30600, University of Manchester, Institute for Development Policy and Management (IDPM).
    14. Charles Cheah & Jicai Liu, 2006. "Valuing governmental support in infrastructure projects as real options using Monte Carlo simulation," Construction Management and Economics, Taylor & Francis Journals, vol. 24(5), pages 545-554.
    15. Blane Lewis, 2007. "On-Lending In Indonesia: Past Performance And Future Prospects," Bulletin of Indonesian Economic Studies, Taylor & Francis Journals, vol. 43(1), pages 35-58.
    16. Koopmann, Georg & Hoekstra, Ruth, 2010. "Aid for trade and the political economy of trade liberalization," HWWI Research Papers 2-22, Hamburg Institute of International Economics (HWWI).
    17. Argentino Pessoa, 2010. "Reviewing Public–Private Partnership Performance in Developing Economies," Chapters, in: Graeme A. Hodge & Carsten Greve & Anthony E. Boardman (ed.), International Handbook on Public–Private Partnerships, chapter 25, Edward Elgar Publishing.
    18. Buso, Marco & Moretto, Michele & Zormpas, Dimitrios, 2021. "Excess returns in Public-Private Partnerships: Do governments pay too much?," Economic Modelling, Elsevier, vol. 102(C).
    19. Pollitt, Michael, 2009. "Evaluating the evidence on electricity reform: Lessons for the South East Europe (SEE) market," Utilities Policy, Elsevier, vol. 17(1), pages 13-23, March.
    20. Erdogdu, Erkan, 2007. "Regulatory reform in Turkish energy industry: An analysis," Energy Policy, Elsevier, vol. 35(2), pages 984-993, February.
    21. Dražen Vrhovski & Bruna Földing & Sebastijan Prebanić, 2014. "Government subsidies efficiency analysis in the tourism sector in Croatia," Tourism and Hospitality Industry section3-2, University of Rijeka, Faculty of Tourism and Hospitality Management.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wbk:wbpubs:7333. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tal Ayalon (email available below). General contact details of provider: https://edirc.repec.org/data/dvewbus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.