Download or read book The Design of Asymmetric Information Contracts for Public Sector Projects with Private Sector Participation written by Renato E. Reside and published by . This book was released on 2002 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study uses a simple model to solve for the optimal contracts under a situation where the government has asymmetric information about the quality of investors in essential infrastructure goods and services. The analysis concludes that it is possible for the government to offer a set of incentive-compatible contracts to investors.
Download or read book Incentives in Contracts for Public Sector Projects with Private Sector Participation written by Renato E. Reside and published by . This book was released on 2003 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: With asymmetric information, investors are offered a pair of incentive-compatible contracts covering production, tariff and guarantee coverage. Both contracts offer identical production quantities, but the contract designed for high risk investors offers over-insurance and tariff below marginal cost, while the contract designed for low risk investors offers under-insurance with tariff above marginal cost. This benchmark outcome may motivate solutions to adverse selection, incentive and risk-sharing problems in contracts involving private sector participation in infrastructure development projects in the Philippines.
Download or read book The Governance of Infrastructure written by Kai Wegrich and published by Oxford University Press. This book was released on 2017-03-01 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: Infrastructure only tends to be noticed when it is absent, declining, or decrepit, or when enormous cost overruns, time delays, or citizen protests make the headlines. If infrastructure is indeed a fundamental driver of economic growth and social development, why is it so difficult to get right? In addressing this perennial question, this volume-the fourth edition in an annual series tackling different aspects of governance around the world-makes the case for a governance perspective on infrastructure. This implies moving beyond rational economic analysis of what should be done towards an analysis of the political, institutional, and societal mechanisms that shape decision-making about infrastructure investment, planning, and implementation. Engaging with theories from sociology, political science, and public administration, and drawing on empirical analyses bridging OECD and non-OECD countries, the contributions to this volume dissect the logics of infrastructure governance in a novel way, providing timely analyses that will enrich both scholarly and policy debates about how to get infrastructure governance right.
Download or read book Social Service Private Gain written by Jesse Hajer and published by University of Toronto Press. This book was released on 2021 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines Social Impact Bonds as a means to finance social services, and how mainstream and heterodox economic theory can help understand their existence and emergence.
Download or read book Rethinking Public Private Partnerships written by Lewis, Mervyn K. and published by Edward Elgar Publishing. This book was released on 2021-08-27 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public private partnerships (PPPs) have been a controversial approach to procuring public infrastructure services. Against a background of recent trenchant criticism of PPPs, Mervyn K. Lewis, a leading scholar in the area, re-examines their utility. He questions what PPPs can and cannot do, why governments choose this route and whether PPPs can ever be good value for money.
Download or read book Transnational Business Governance Interactions written by Stepan Wood and published by Edward Elgar Publishing. This book was released on 2019-12-27 with total page 413 pages. Available in PDF, EPUB and Kindle. Book excerpt: From agriculture to sport and from climate change to indigenous rights, transnational regulatory regimes and actors are multiplying and interacting with poorly understood effects. This interdisciplinary book investigates whether, how and by whom transnational business governance interactions (TBGIs) can be harnessed to improve the quality of transnational regulation and advance the interests of marginalized actors.
Download or read book Towards a Principal Agent Based Typology of Risks in Public Private Partnerships written by André De Palma and published by International Monetary Fund. This book was released on 2009-08 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a strong economic rationale for close cooperation between the public and private sectors. This has resulted in a significant increase in the demand for the provision of public services through instruments combining public and private money such as public-private partnerships (PPPs or P3s). We describe these arrangements and explore how they can be analyzed using standard tools in economics (incentives and principal-agent theory). We discuss the implications of our approach in terms of identifying risks that are often overlooked before turining to the optimal risk-sharing between the public and private partners, in particular with respect to information asymmetries in risk perceptions. This allows us to propose a typology of the risks associated with PPPs, where both internal risks (the risks associated with the contract) and external risks (those associated with the project) are considered.
Download or read book The Business of Water and Sustainable Development written by Jonathan Chenoweth and published by Routledge. This book was released on 2018-05-08 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: A renewed commitment to improved provision of water and sanitation emerged in the 2002 Johannesburg Declaration on Sustainable Development. Although many of the statements in the Declaration were vaguely worded, making it hard to measure progress or success, the Plan of Implementation of the Summit, agreed by the delegates to the conference, clearly stated that: "we agree to halve, by the year 2015, the proportion of people who are unable to reach or to afford safe drinking water and the proportion of people who do not have access to basic sanitation". Given the United Nations' predicted growth in global population from 6.1 billion in 2000 to 7.2 billion by 2015, this commitment will pose formidable challenges. To meet it, by the end of just a decade and half, approximately 6.6 billion people will need to have access to safe drinking water supplies. This is more than the current population of the world, and involves not only maintaining existing levels of supply but also providing new or upgraded services to 1.7 billion people. The challenge for sanitation is equally daunting: 5.8 billion people will need to be serviced, including new access provision for 2.1 billion. Even if these ambitious targets are met, representing a major achievement for the global community, there will still be approximately 650 million people in the world without access to safe drinking water and 1.4 billion without sanitation. What is clear is the magnitude of the problem facing the international community in terms of water supply and sanitation. Continuation of the status quo and the type of progress made during the 1990s will not permit the Johannesburg targets to be met. Instead it will be necessary to promote a combination of many different, new and innovative approaches, each of which will contribute towards the overall targets. These approaches must include technological advances that identify new sources and improve the quality of those already in use; managerial techniques that increase the efficiency and effectiveness of service delivery at both micro and macro scale; and fiscal approaches that tap into additional financial resources to make improvements affordable. In the past each of these aspects was seen as primarily the responsibility of government, which supported research into technology, managed supply and disposal systems and provided the funds to pay for them. This view has changed – beginning in the 1980s and increasing in the 1990s with growing moves towards privatisation of many aspects of the water sector. Underpinning this has been a shift away from seeing water as a public good that is essential for life, with subsidised supply provided as part of an overall welfare system, to a more market-oriented approach where the state, although still responsible for maintaining universal access to water services, uses market forces to meet this aim. The Business of Water and Sustainable Development aims to illustrate the range of approaches that will be necessary if the percentage of the global population having access to adequate and safe water and sanitation is to be increased in line with the brave assertions from Johannesburg World Summit on Sustainable Development. Some of approaches will be large-scale "Western-style" improvements involving the creation of new business models, their effectiveness assessed by traditional approaches of fiscal and social analysis. Such schemes may be instigated and partly funded by governments, but are increasingly turning to the private sector for money and expertise. In contrast, many smaller communities would be better served by following another path to improved water supply and sanitation. Because of their size, location or traditions they may achieve better results through the adoption of local small-scale solutions. Non-governmental organisations have been very active in this area, but to extend their operations many are seeking to adopt a more business-like model. All water supply and waste disposal agencies, large or small, need to support and encourage continued research into technological solutions that seek out better, more sustainable ways to use our increasingly scarce supplies of good-quality fresh water.
Download or read book Capital Management and Budgeting in the Public Sector written by Srithongrung, Arwiphawee and published by IGI Global. This book was released on 2019-01-11 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: To create an enhanced quality of life, attract business relocation, and enhance equity in access to public infrastructure, governmental bodies must take certain precautions with their money. Budgeting at such a high level requires careful evaluation and research that addresses every aspect of financial management. Capital Management and Budgeting in the Public Sector provides emerging research exploring the theoretical and practical aspects of long-term capital planning, annual capital budgeting, capital budget execution, and public spending evaluation. Featuring coverage on a broad range of topics such as fiscal federalism, political regime, and project execution management, this book is ideally designed for managers, accountants, professionals, practitioners, and researchers working in the areas of public finance and/or international development.
Download or read book Public Private Partnerships Capital Infrastructure Project Investments and Infrastructure Finance written by Jane Beckett-Camarata and published by Emerald Group Publishing. This book was released on 2020-10-20 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Through the introduction of a new lens through which to view infrastructure finance policy, this book analyses the role of Public Private Partnerships within the context of long-term capital investment and improvement planning, and as a critical aspect of effective long-term capital infrastructure finance policy.
Download or read book Introduction to Cost Benefit Analysis written by Ginés de Rus and published by Edward Elgar Publishing. This book was released on 2021-03-26 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thoroughly updated second edition incorporates key ideas and discussions on issues such as wider economic impacts, the treatment of risk, and the importance of institutional arrangements in ensuring the correct use of technique. Ginés de Rus considers whether public decisions, such as investing in high-speed rail links, privatizing a public enterprise or protecting a natural area, may improve social welfare.
Download or read book Bringing PPPs into the Sunlight written by Marcos Siqueira and published by Inter-American Development Bank. This book was released on 2018-08-03 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication covers PPPs with a focus on the implications for public finances in developing economies. Chapter 1 seeks to answer the question of whether PPPs are the “genie in the bottle” for governments seeking to plug the infrastructure gap: do they solve more problems than they create? This discussion lays the groundwork for further analysis. Chapter 2 explores the underlying reasons for the expansion of PPPs, the definitions and scope of PPPs in different contexts, and the historical trajectory of PPPs throughout the world, highlighting the common factors that have led to their current popularity. Chapter 3 details the multitude of institutional frameworks built to accommodate PPPs. It highlights the frameworks for national and subnational entities commissioning PPPs and deals with the involvement of state-owned enterprises. It also introduces fiscal frameworks for PPPs. Chapter 4 considers the fiscal and budgetary implications of PPPs from various perspectives. Chapter 5 covers the multiple forms of government financial support extended to PPPs and the practical implications of various countries’ experiences with direct, indirect, explicit, and implicit forms of project support. Finally, Chapter 6 discusses unsolicited PPP proposals coming directly from private-sector firms that hope to service them. The publication concludes with a brief summation of the outlook for PPPs as well as concise policy recommendations.
Download or read book Proceedings of the 24th International Symposium on Advancement of Construction Management and Real Estate written by Gui Ye and published by Springer Nature. This book was released on 2021-06-07 with total page 2252 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers various current and emerging topics in construction management and real estate. Papers selected in this book cover a wide variety of topics such as new-type urbanization, planning and construction of smart city and eco-city, urban–rural infrastructure development, land use and development, housing market and housing policy, new theory and practice of construction project management, big data application, smart construction and BIM, international construction (i.e., belt and road project), green building, off-site prefabrication, rural rejuvenation and eco-civilization and other topics related to construction management and real estate. These papers provide useful references to both scholars and practitioners. This book is the documentation of “The 24th International Symposium on Advancement of Construction Management and Real Estate,” which was held in Chongqing, China.
Download or read book Global Developments in Public Infrastructure Procurement written by Darrin Grimsey and published by Edward Elgar Publishing. This book was released on 2017-11-24 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is widespread acceptance of the importance of infrastructure, but less agreement about how it should be funded and procured. While most public infrastructure is still provided in-house or by traditional procurement methods – with well-researched strengths and weaknesses – the development of service concession arrangements has seen a greater emphasis on lifecycle costing, risk assessment and asset design as featured in a variety of public private partnership (PPP) delivery models. This book examines the various procurement approaches, and provides a framework for comparing their advantages and disadvantages. Drawing on international experience, it considers some of the best and worst examples of PPPs, and infrastructure projects generally, along with the lessons for improving infrastructure procurement processes.
Download or read book Fiscal Regimes for Extractive Industries Design and Implementation written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2012-08-16 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Better designed and implemented fiscal regimes for oil, gas, and mining can make a substantial contribution to the revenue needs of many developing countries while ensuring an attractive return for investors, according to a new policy paper from the International Monetary Fund. Revenues from extractive industries (EIs) have major macroeconomic implications. The EIs account for over half of government revenues in many petroleum-rich countries, and for over 20 percent in mining countries. About one-third of IMF member countries find (or could find) resource revenues “macro-critical” – especially with large numbers of recent new discoveries and planned oil, gas, and mining developments. IMF policy advice and technical assistance in the field has massively expanded in recent years – driven by demand from member countries and supported by increased donor finance. The paper sets out the analytical framework underpinning, and key elements of, the country-specific advice given. Also available in Arabic: ????? ??????? ?????? ???????? ???????????: ??????? ???????? Also available in French: Régimes fiscaux des industries extractives: conception et application Also available in Spanish: Regímenes fiscales de las industrias extractivas: Diseño y aplicación
Download or read book Government Guarantees written by Timothy Irwin and published by World Bank Publications. This book was released on 2007 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book considers when governments should give guarantees to private investors. After describing the history of guarantees, and the challenges the politics and psychology create for good decisions, the book sets out a principles for allocating risk (and therefore guarantees), techniques for valuing guarantees, and rules to encourage good decisions.
Download or read book Reforming Infrastructure written by Ioannis Nicolaos Kessides and published by World Bank Publications. This book was released on 2004 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electricity, natural gas, telecommunications, railways, and water supply, are often vertically and horizontally integrated state monopolies. This results in weak services, especially in developing and transition economies, and for poor people. Common problems include low productivity, high costs, bad quality, insufficient revenue, and investment shortfalls. Many countries over the past two decades have restructured, privatized and regulated their infrastructure. This report identifies the challenges involved in this massive policy redirection. It also assesses the outcomes of these changes, as well as their distributional consequences for poor households and other disadvantaged groups. It recommends directions for future reforms and research to improve infrastructure performance, identifying pricing policies that strike a balance between economic efficiency and social equity, suggesting rules governing access to bottleneck infrastructure facilities, and proposing ways to increase poor people's access to these crucial services.
