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Renegotiation of Concession Contracts: Empiricla Evidence for Public Transport Infrastructure in Peru

Author

Listed:
  • Jorge Montecinos C.

    (OSINERGMIN Perú)

  • Eduardo Saavedra P.

    (ILADES – Universidad Alberto Hurtado)

Abstract

This paper identifies the determinants of renegotiation of concession contracts in transport infrastructure for public use in Peru. Based on the literature of concession contracts, this paper uses a probit model to estimate the probability of renegotiating these contracts. The results indicated that the probability of renegotiate these concession contracts depends on the number of bidders who participated in the bidding process for each concession, the competition factor (decision variable) that determines the winner of the bid; the bidder's previous experience on other concession contracts; the percentage of land given to the operator at the beginning of the concession; the regulatory mechanism; the degree of autonomy of the regulator (in terms of experience and financial resources), and the exchange rate.

Suggested Citation

  • Jorge Montecinos C. & Eduardo Saavedra P., 2014. "Renegotiation of Concession Contracts: Empiricla Evidence for Public Transport Infrastructure in Peru," ILADES-UAH Working Papers inv302, Universidad Alberto Hurtado/School of Economics and Business.
    • Handle: RePEc:ila:ilades:inv302
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    Cited by:

    1. Athena Roumboutsos & Alenka Temeljotov-Salaj & Iosif Karousos, 2020. "Indicators for Sustainable Demand Risk Allocation in Transport Infrastructure Projects," Sustainability, MDPI, vol. 12(22), pages 1-23, November.

    More about this item

    Keywords

    Concessions; Renegotiation; Infrastructure; Transport; Peru;
    All these keywords.

    JEL classification:

    • K41 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Litigation Process
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • L91 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Transportation: General
    • Y - Miscellaneous Categories
    • L98 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Government Policy

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