Download or read book Creating Incentives for Private Infrastructure Companies to Become More Efficient written by Ian Alexander and published by . This book was released on 1997 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Creating Incentives for Private Infrastructure Companies to Become More Efficient written by Ian Alexander and published by . This book was released on 2016 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Certain factors can maximize the pressure on privatized infrastructure companies to be more efficient: the threat of bankruptcy, internal controls imposed by shareholders, and external disciplines (such as the threat of hostile takeover).The privatization of infrastructure companies is expected to bring about gains for customers by increasing the efficiency of the privatized company. Because many infrastructure industries are not competitive, attention has focused on the development of regulatory regimes that replicate the operation of competitive markets and so lead to the efficiency gains. Less attention, however, has been paid to other institutional factors that encourage firms to operate efficiently.Alexander and Mayer study three institutional factors that can, in general, encourage efficiency:deg; The threat of bankruptcy.deg; Internal controls brought about by executive remuneration schemes and the ability of shareholders to remove underperforming management.deg; External disciplines brought about by the operation of the market for corporate control and the threat of hostile takeover.Applying these three aspects of corporate governance to monopolistic infrastructure firms is not simple. Infrastructure regulation may allow privatized firms to avoid financial problems by raising prices, for example, thus sheltering them from the threat of bankruptcy. And shareholder control may be hindered by restrictions on the proportion of the shares that can be owned by any one shareholder.Alexander and Mayer offer examples of the ways in which different regulatory, institutional, and governance systems work in different countries, especially in relation to infrastructure companies and provide a checklist of options that should be considered when designing the involvement of the private sector in infrastructure position.This paper - a product of the Private Participation in Infrastructure Group, Private Sector Development Department - is part of a larger effort in the department to analyze issues relating to private participation in infrastructure.
Download or read book Creating Incentives for Private Infrastructure Companies to Become More Efficient written by Ian Alexander and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: March 1997 Certain factors can maximize the pressure on privatized infrastructure companies to be more efficient: the threat of bankruptcy, internal controls imposed by shareholders, and external disciplines (such as the threat of hostile takeover). The privatization of infrastructure companies is expected to bring about gains for customers by increasing the efficiency of the privatized company. Because many infrastructure industries are not competitive, attention has focused on the development of regulatory regimes that replicate the operation of competitive markets and so lead to the efficiency gains. Less attention, however, has been paid to other institutional factors that encourage firms to operate efficiently. Alexander and Mayer study three institutional factors that can, in general, encourage efficiency: * The threat of bankruptcy. * Internal controls brought about by executive remuneration schemes and the ability of shareholders to remove underperforming management. * External disciplines brought about by the operation of the market for corporate control and the threat of hostile takeover. Applying these three aspects of corporate governance to monopolistic infrastructure firms is not simple. Infrastructure regulation may allow privatized firms to avoid financial problems by raising prices, for example, thus sheltering them from the threat of bankruptcy. And shareholder control may be hindered by restrictions on the proportion of the shares that can be owned by any one shareholder. Alexander and Mayer offer examples of the ways in which different regulatory, institutional, and governance systems work in different countries, especially in relation to infrastructure companies and provide a checklist of options that should be considered when designing the involvement of the private sector in infrastructure position. This paper-a product of the Private Participation in Infrastructure Group, Private Sector Development Department-is part of a larger effort in the department to analyze issues relating to private participation in infrastructure.
Download or read book Creating Incentives for Private Infrastructure Company to Become More Efficient written by Ian Alexander and published by World Bank Publications. This book was released on 1997 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mastering the Risky Business of Public Private Partnerships in Infrastructure written by Manal Fouad and published by International Monetary Fund. This book was released on 2021-05-10 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investment in infrastructure can be a driving force of the economic recovery in the aftermath of the COVID-19 pandemic in the context of shrinking fiscal space. Public-private partnerships (PPP) bring a promise of efficiency when carefully designed and managed, to avoid creating unnecessary fiscal risks. But fiscal illusions prevent an understanding the sources of fiscal risks, which arise in all infrastructure projects, and that in PPPs present specific characteristics that need to be addressed. PPP contracts are also affected by implicit fiscal risks when they are poorly designed, particularly when a government signs a PPP contract for a project with no financial sustainability. This paper reviews the advantages and inconveniences of PPPs, discusses the fiscal illusions affecting them, identifies a diversity of fiscal risks, and presents the essentials of PPP fiscal risk management.
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.
Download or read book Can Capital Markets Create Incentives for Pollution Control written by Paul Lanoie and published by World Bank Publications. This book was released on 1997 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Private Finance for Development written by Hilary Devine and published by International Monetary Fund. This book was released on 2021-05-14 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Covid-19 pandemic has aggravated the tension between large development needs in infrastructure and scarce public resources. To alleviate this tension and promote a strong and job-rich recovery from the crisis, Africa needs to mobilize more financing from and to the private sector.
Download or read book Economic Analysis and Infrastructure Investment written by Edward L. Glaeser and published by University of Chicago Press. This book was released on 2021-11-11 with total page 479 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Policy-makers often call for expanding public spending on infrastructure, which includes a broad range of investments from roads and bridges to digital networks that will expand access to high-speed broadband. Some point to near-term macro-economic benefits and job creation, others focus on long-term effects on productivity and economic growth. This volume explores the links between infrastructure spending and economic outcomes, as well as key economic issues in the funding and management of infrastructure projects. It draws together research studies that describe the short-run stimulus effects of infrastructure spending, develop new estimates of the stock of U.S. infrastructure capital, and explore the incentive aspects of public-private partnerships (PPPs). A salient issue is the treatment of risk in evaluating publicly-funded infrastructure projects and in connection with PPPs. The goal of the volume is to provide a reference for researchers seeking to expand research on infrastructure issues, and for policy-makers tasked with determining the appropriate level of infrastructure spending"--
Download or read book From Global Savings Glut to Financing Infrastructure written by Mr.Rabah Arezki and published by International Monetary Fund. This book was released on 2016-02-09 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the emerging global landscape for public-private co-investments in infrastructure. The creation of the Asian Infrastructure Investment Bank and other so-called “infrastructure investment platforms” are an attempt to tap into the pool of both public and private long-term savings in order to channel the latter into much needed infrastructure projects. This paper puts these new initiatives into perspective by critically reviewing the literature and experience with public private partnerships in infrastructure. It concludes by identifying the main challenges policy makers and other actors will need to confront going forward and to turn infrastructure into an asset class of its own.
Download or read book Using Economic Policy to Improve Environmental Protection in Pakistan written by Rashid Faruqee and published by World Bank Publications. This book was released on 1997 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book World Development Report 1994 written by and published by World Bank Publications. This book was released on 1994 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: World Development Report 1994 examines the link between infrastructure and development and explores ways in which developing countries can improve both the provision and the quality of infrastructure services. In recent decades, developing countries have made substantial investments in infrastructure, achieving dramatic gains for households and producers by expanding their access to services such as safe water, sanitation, electric power, telecommunications, and transport. Even more infrastructure investment and expansion are needed in order to extend the reach of services - especially to people living in rural areas and to the poor. But as this report shows, the quantity of investment cannot be the exclusive focus of policy. Improving the quality of infrastructure service also is vital. Both quantity and quality improvements are essential to modernize and diversify production, help countries compete internationally, and accommodate rapid urbanization. The report identifies the basic cause of poor past performance as inadequate institutional incentives for improving the provision of infrastructure. To promote more efficient and responsive service delivery, incentives need to be changed through commercial management, competition, and user involvement. Several trends are helping to improve the performance of infrastructure. First, innovation in technology and in the regulatory management of markets makes more diversity possible in the supply of services. Second, an evaluation of the role of government is leading to a shift from direct government provision of services to increasing private sector provision and recent experience in many countries with public-private partnerships is highlighting new ways to increase efficiency and expand services. Third, increased concern about social and environmental sustainability has heightened public interest in infrastructure design and performance.
Download or read book Water Utility Regulation written by Andrei Jouravlev and published by . This book was released on 2000 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Moving to Greener Pastures written by Gunnar S. Eskeland and published by World Bank Publications. This book was released on 1997 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Safe and Sound Banking in Developing Countries written by Gerard Caprio and published by World Bank Publications. This book was released on 1997 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Introduction to Air Transport Economics written by Bijan Vasigh and published by Routledge. This book was released on 2017-11-30 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction to Air Transport Economics: From Theory to Applications uniquely merges the institutional and technical aspects of the aviation industry with their theoretical economic underpinnings. In one comprehensive textbook it applies economic theory to all aspects of the aviation industry, bringing together the numerous and informative articles and institutional developments that have characterized the field of airline economics in the last two decades as well as adding a number of areas original to an aviation text. Its integrative approach offers a fresh point of view that will find favor with many students of aviation. The book offers a self-contained theory and applications-oriented text for any individual intent on entering the aviation industry as a practicing professional in the management area. It will be of greatest relevance to undergraduate and graduate students interested in obtaining a more complete understanding of the economics of the aviation industry. It will also appeal to many professionals who seek an accessible and practical explanation of the underlying economic forces that shape the industry.
Download or read book How China s Government and State Enterprises Partitioned Property and Control Rights written by Lixin Colin Xu and published by World Bank Publications. This book was released on 1997 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
