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Ashoka Mody - Infrastructure Delivery: Private Initiative and the Public Good (Edi Development Studies)

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Technological change, advances in regulatory design, and the evolution of financial markets are prompting governments to move away from their domination of infrastructure delivery and allow greater opportunities for private enterprise. This volume explores the tensions that often exist between private initiative and the public interest. It draws on the lessons of experience with private delivery and emphasizes the importance of correctly assessing the competitive possibilities in different sectors, specifying the desired quality of service, and monitoring the actions of private providers. Modern developments in regulatory design and risk management have raised issues about the interface between the public and private sectors when governments provide guarantees to private investors and lenders. Several case studies describe current trends and highlight the roles of major private actors, as well as of official lenders, such as export credit agencies and multilateral development banks. While private finance and operation hold great promise for developing-country infrastructure, their success will depend upon the ability of governments to create new policies, institutions, and capabilities. This book carefully examines many of the prerequisites for success, including the design of regulation and the management of contingent liabilities. It merits a wide readership by all interested in the success of private-public partnerships.--Charles Frank, Jr., Executive Vice President and Director, General Electric Capital Corporation, Stanford, Connecticut Through case studies and several analytical examples, this book addresses the nuances of public policy in successfully attracting private capital to infrastructure sectors. I have benefited greatly from the exposition an dhave drawn extensively from the book in preparing a report on Indias options for private finance in infrastructure.--Rakesh Mohan, Director General, National Council of Applied Economic Research, New Delhi, India Table of Contents: Infrastructure Delivery: New Ideas, Big Gains, No Panaceas (Ashoka Mody) Chapter 1: No Single Path: Ownership and Financing of Infrastructure in the 19th and 20th Centuries (Charles D. Jacobson and Joel A. Tarr) Chapter 2: Exploiting New Market Opportunities in Telecommunications (Veronique Bishop, Ashoka Mody, and Mark Schankerman) Chapter 3: Principles of Regulatory Policy Design (David E. M. Sappington) Chapter 4: Financing Infrastructure in Developing Countries: Lessons from the Railway Age (Barry Eichengreen) Chapter 5: The Public Finance of Infrastructure: Issues and Options (Vinaya Swaroop) Chapter 6: The Role of Export Credit Agencies in the Foreign Financing of Infrastructure in Developing Countries (Ning S. Zhu) Chapter 7: Project Finance in Practice: The Case Studies (Thomas H. Pyle) Chapter 8: Methods of Loan Guarantee Valuation and Accounting (Ashoka Mody and Dilip Kumar Patro)

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title Infrastructure Delivery Private Initiative and the Public Good EDI - photo 1

title:Infrastructure Delivery : Private Initiative and the Public Good EDI Development Studies, 1020-105X
author:Mody, Ashoka.
publisher:World Bank
isbn10 | asin:0821335200
print isbn13:9780821335208
ebook isbn13:9780585236131
language:English
subjectInfrastructure (Economics) , Infrastructure (Economics)--Finance, Infrastructure (Economics)--Developing countries.
publication date:1996
lcc:HC79.C3I516 1996eb
ddc:363
subject:Infrastructure (Economics) , Infrastructure (Economics)--Finance, Infrastructure (Economics)--Developing countries.
Other EDI Development Studies
(In order of publication)
Trade, Technology, and International Competitiveness
Irfan ul Haque
Corporate Governance in Transitional Economies: Insider Control and the Role of Banks
Edited by Masahiko Aoki and Hyung-Ki Kim
Unemployment, Restructuring, and the Labor Market in Eastern Europe and Russia
Edited by Simon Commander and Fabrizio Coricelli
Monitoring and Evaluating Social Programs in Developing Countries: A Handbook for Policymakers, Managers, and Researchers
Joseph Valadez and Michael Bamberger
Agroindustrial Investment and Operations
James G. Brown with Deloitte & Touche
Labor Markets in an Era of Adjustment
Edited by Susan Horton, Ravi Kanbur, and Dipak Mazumdar
Vol. I. Issues Papers; Vol. 2. Case Studies
Does Privatization Deliver? Highlights from a World Bank Conference
Edited by Ahmed Galal and Mary Shirley
The Adaptive Economy: Adjustment Policies in Small, Low-Income Countries
Tony Killick
Financial Regulation: Changing the Rules of the Game
Edited by Dimitri Vittas
The Distribution of Income and Wealth in Korea
Danny Leipziger and others
Public Enterprise Reform: The Lessons of Experience
Mary Shirley and John Nellis
(Also available in French and Spanish)
Privatization and Control of State-Owned Enterprises
Edited by Ravi Ramamurti and Raymond Vernon
Finance at the Frontier: Debt Capacity and the Role of Credit in the Private Economy
J. D. Von Pischke
Page i
EDI Development Studies
Infrastructure Delivery
Private Initiative and the Public Good
Edited by
Ashoka Mody
Infrastructure Delivery Private Initiative and the Public Good Edi Development Studies - image 2
Page ii
Copyright 1996
The International Bank for Reconstruction and Development / The World Bank
1818 H Street, N.W.
Washington, D.C. 20433, U.S.A.
All rights reserved
Manufactured in the United States of America
First printing August 1996
The Economic Development Institute (EDI) was established by the World Bank in 1955 to train officials concerned with development planning, policymaking, investment analysis, and project implementation in member developing countries. At present the substance of the EDI's work emphasizes macroeconomic and sectoral economic policy analysis. Through a variety of courses, seminars, and workshops, most of which are given overseas in cooperation with local institutions, the EDI seeks to sharpen analytical skills used in policy analysis and to broaden understanding of the experience of individual countries with economic development. Although the EDI's publications are designed to support its training activities, many are of interest to a much broader audience. EDI materials, including any findings, interpretations, and conclusions, are entirely those of the authors and should not be attributed in any manner to the World Bank, to its affiliated organizations, or to members of its Board of Executive Directors or the countries they represent.
Because of the informality of this series and to make the publication available with the least possible delay, the manuscript has not been edited as fully as would be the case with a more formal document, and the World Bank accepts no responsibility for errors.
The material in this publication is copyrighted. Requests for permission to reproduce portions of it should be sent to the Office of the Publisher at the address shown in the copyright notice above. The World Bank encourages dissemination of its work and will normally give permission promptly and, when the reproduction is for noncommercial purposes, without asking a fee. Permission to photocopy portions for classroom use is granted through the Copyright Clearance Center, Inc., Suite 910, 222 Rosewood Drive, Danvers, Massachusetts 01923, U.S.A.
The complete backlist of publications from the World Bank is shown in the annual Index of Publications, which contains an alphabetical title list (with full ordering information) and indexes of subjects, authors, and countries and regions. The latest edition is available free of charge from the Distribution Unit, Office of the Publisher, The World Bank, 1818 H Street, N.W., Washington, D.C. 20433, U.S.A., or from Publications, Banque mondiale, 66, avenue d'Ina, 75116 Paris, France.
At the time of writing, Ashoka Mody was principal financial economist in the World Bank's Cofinancing and Project Finance Department.
Library of Congress Cataloging-in-Publication Data
Infrastructure delivery: private initiative and the public good /
edited by Ashoka Mody.
p. cm. (EDI development studies, ISSN 1020105X)
Includes bibliographical references and index.
ISBN 0821335200
1. Infrastructure (Economics) 2. Infrastructure (Economics)
Finance. 3. Infrastructure (Economics) Developing countries.
I. Mody, Ashoka. II. Series.
HC79.C31516 1996
363dc20 9539451
CIP
Page iii
Contents
Foreword
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