Macroeconomic Effects Of Private Sector Participation In Latin America S Infrastructure
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Macroeconomic Effects Of Private Sector Participation In Latin America S Infrastructure
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Author : Lourdes Trujillo
language : en
Publisher:
Release Date : 2016
Macroeconomic Effects Of Private Sector Participation In Latin America S Infrastructure written by Lourdes Trujillo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Trujillo, Martiacute;n, Estache, and Campos provide empirical evidence on the impact that private participation in infrastructure has had on key macroeconomic variables in a sample of 21 Latin American countries from 1985-98. Specifically, they look at the effects on GDP per capita, current public expenditures, public investment, and private investment, controlling for country effects and institutional factors. The authors also investigate the relevance of the specific contractual form of private participation contracts on these variables and show differentiated effects according to contract types.The results suggest that:ʼn Private sector involvement in utilities and transport have some, but not impressive, positive effects on GDP per capita.ʼn There is some degree of crowding-out of private investment resulting from greenfield projects in utilities, and delayed crowding-in from concessions in transport.ʼn There is crowding-in of public investment by private participation in utilities, while there is crowding-out by increased private investment in transport.ʼn Private participation in utilities decreases recurrent expenditures, while in transport it results in an increase.The net effect on the public sector account is uncertain, but this uncertainty is a major risk. The revelation of this risk may be the main contribution of this paper since it is inconsistent with the fiscal gains expected by many policymakers as they engage in infrastructure privatization programs.This paper - a product of the Governance, Regulation, and Finance Division, World Bank Institute, and Finance, Private Sector, and Infrastructure Unit, Latin America and the Caribbean Region - is part of a larger effort in the Bank to increase understanding of infrastructure regulation.
Macroeconomic Effects Of Private Sector Participation In Latin America S Infrastructure
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Author : Lourdes Trujillo
language : en
Publisher: World Bank Publications
Release Date :
Macroeconomic Effects Of Private Sector Participation In Latin America S Infrastructure written by Lourdes Trujillo and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Abstract: Trujillo, Martín, Estache, and Campos provide empirical evidence on the impact that private participation in infrastructure has had on key macroeconomic variables in a sample of 21 Latin American countries from 1985-98. Specifically, they look at the effects on GDP per capita, current public expenditures, public investment, and private investment, controlling for country effects and institutional factors. The authors also investigate the relevance of the specific contractual form of private participation contracts on these variables and show differentiated effects according to contract types. The results suggest that: Private sector involvement in utilities and transport have some, but not impressive, positive effects on GDP per capita; There is some degree of crowding-out of private investment resulting from greenfield projects in utilities, and delayed crowding-in from concessions in transport. There is crowding-in of public investment by private participation in utilities, while there is crowding-out by increased private investment in transport; Private participation in utilities decreases recurrent expenditures, while in transport it results in an increase. The net effect on the public sector account is uncertain, but this uncertainty is a major risk. The revelation of this risk may be the main contribution of this paper since it is inconsistent with the fiscal gains expected by many policymakers as they engage in infrastructure privatization programs. This paper"a product of the Governance, Regulation, and Finance Division, World Bank Institute, and Finance, Private Sector, and Infrastructure Unit, Latin America and the Caribbean Region"is part of a larger effort in the Bank to increase understanding of infrastructure regulation.
Macroeconomic Effects Of Private Sector Participation In Latin America S Infrastructure
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Author :
language : en
Publisher:
Release Date : 2002
Macroeconomic Effects Of Private Sector Participation In Latin America S Infrastructure written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.
Macroeconomics Effects Of Private Sector Participation In Latin America S Infrastructure
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Author : Javier Campos
language : en
Publisher:
Release Date : 2002
Macroeconomics Effects Of Private Sector Participation In Latin America S Infrastructure written by Javier Campos and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.
The authors provide empirical evidence on the impact that private participation in infrastructure has had on key macroeconomic variables in a sample of 21 Latin American countries from 1985-98. Specifically, they look at the effects on GDP per capita, current public expenditures, public investment, and private investment, controlling for country effects and institutional factors. The authors also investigate the relevance of the specific contractual form of private participation contracts on these variables and show differentiated effects according to contract types. The results suggest that: 1) Private sector involvement in utilities and transport have some, but not impressive, positive effects on GDP per capita. 2) There is some degree of crowding-out of private investment resulting from greenfield projects in utilities, and delayed crowding-in from concessions in transport. 3) There is crowding-in of public investment by private participation in utilities, while there is crowding-out by increased private investment in transport. 4) Private participation in utilities decreases recurrent expenditures, while in transport it results in an increase. The net effect on the public sector account is uncertain, but this uncertainty is a major risk. The revelation of this risk may be the main contribution of this paper since it is inconsistent with the fiscal gains expected by many policymakers as they engage in infrastructure privatization programs.
The Limits Of Stabilization
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Author : William Easterly
language : en
Publisher: World Bank Publications
Release Date : 2003-10-01
The Limits Of Stabilization written by William Easterly and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-10-01 with Business & Economics categories.
Over the 1980s and 1990s, most Latin American countries witnessed a retrenchment of the public sector away from infrastructure provision and an opening up of infrastructure activities to the private sector. This book analyzes the consequences of these policy changes from two perspectives. First, it reviews in a comparative framework the major trends in infrastructure provision in Latin America over the last two decades. Second, it evaluates the implication of these trends for economic growth and public deficits in the region. The book shows that in most countries private participation did not fully offset the public sector retreat. The result was a slowdown in infrastructure accumulation, which entailed a significant growth cost and weakened the intended impact of the infrastructure spending cuts on public sector insolvency.
Accounting For Poverty In Infrastructure Reform
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Author : Antonio Estache
language : en
Publisher: World Bank Publications
Release Date : 2002
Accounting For Poverty In Infrastructure Reform written by Antonio Estache and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Political Science categories.
Annotation This book provides practical guidelines and options for infrastructure reform that result in access and affordability for the poor. It includes a new model for reform that consists of three main components - policies, regulation, and provision which when properly balanced minimize the risks associated with reform.
The Growth Return Of Infrastructure In Latin America
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Author : Mr.Sergi Lanau
language : en
Publisher: International Monetary Fund
Release Date : 2017-02-14
The Growth Return Of Infrastructure In Latin America written by Mr.Sergi Lanau and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-02-14 with Business & Economics categories.
This paper examines the effects of improvements in infrastrucutre on sectoral growth and firm-level investment, focusing on six Latin American countries. Exploiting the heterogeneity in the quality of infrastructure across countries and the intrinsic variation in the dependence of sectors on infrastructure, I find that better infrastructure raises growth and investment. Improved infrastructure could yield large economic benefits. For example, if the quality of infrastructure in Colombia increased to the sample median (Czech Republic), GDP growth would increase by about 0.1 percentage points.
Highways To Heaven
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Author : Ms.Valerie Cerra
language : en
Publisher: International Monetary Fund
Release Date : 2016-09-15
Highways To Heaven written by Ms.Valerie Cerra and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-15 with Business & Economics categories.
Inadequate infrastructure has been widely viewed as a principal barrier to growth and development in Latin America and the Caribbean. This paper provides a comprehensive overview of infrastructure in the region and highlights key areas in which infrastructure networks can be enhanced. The public and private sectors play complementary roles in improving the infrastructure network. Therefore, it is critical to strengthen public investment management processes as well as the regulatory framework, including to ensure an appropriate mix of financing and funding for projects and to address environmental concerns.
How Did Latin America S Infrastructure Fare In The Era Of Macroeconomic Crises
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Author : César Calderón
language : en
Publisher:
Release Date : 2002
How Did Latin America S Infrastructure Fare In The Era Of Macroeconomic Crises written by César Calderón and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Infrastructure (Economics) categories.
Infrastructure In Latin America
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Author : C??sar Calder??n
language : en
Publisher:
Release Date : 2012
Infrastructure In Latin America written by C??sar Calder??n and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
An adequate supply of infrastructure services has long been viewed by both academics and policy makers as a key ingredient for economic development. Over the past quarter-century, the retrenchment of Latin America's public sector from its dominant position in the provision of infrastructure, and the opening up of these industries to private participation, have renewed the debate on the role of infrastructure in the region's development. The focus of this paper is three-fold. First, it documents, in a comparative cross-regional perspective, the trends in Latin America's infrastructure development, as reflected in the quantity and quality of infrastructure services and the universality of their access. Overall, this suggests the emergence of an infrastructure gap vis-a-vis other industrial and developing regions. Second, it provides an empirical assessment of the contribution of infrastructure development to growth across Latin America. Third, it examines the trends in the financing of infrastructure investment -- documenting the changing roles of the public and private sectors -- and analyzes how they have been shaped by macroeconomic policy constraints.